Don’t trust the number of days they promise. By the way they do promise 21 days. They actually mean 15 weeks.
The Branch Manager is an out and out lair. If the head is like that what can you expect from the rest of the people( but the other employees in the branch were nice people).
A BIG SUGGESTION TO ANYONE who plans to take loan from SBI: Get everything in writing. Whatever they say, write a letter on your own saying, as per our coversation(dated; xyz) you claimed this. etc.
and get it signed by them.example: if they say it will happen in 21 days, write 28 days but get it written. IF it doesn’t happen mail it to the higher authority. That’s the fastest way to make them move.
I learnt it the hard way after loosing 3 weeks, but this is exactly how I did it later and results were much more smoother.
- Keep Following up and nag them. They are too slow for a great experience.
Only good thing is that their interest rates are comparatively low. Though their processing charge is much higher than the rest(approx 10K for others and 20K for them). Interest rate is about 0.5% less, so for a 40 Lakh loan you save around 1300 per month.
But take a call if you want to take the added headache with that or not.