Dear Sir
I have submitted the application dully filled with all requisite documents to State Bank of India for taking over my ongoing home with HDFC. A month has gone and till date SBI could only do to obtain a legal search report and valuation of property, and deducted an amount of Rs 4800 for these two reports.
When I inquired the status of my case after getting a call from RACPC home loan cell of SBI, few days ago they informed me that the valuation of the property is not enough for taking over the existing loan. I asked them to show me the valuation report but they refused and said that its a confidential matter. Anyhow, I got the details of the valuation and to my surprize I got to know that the valuer did the valuation on the basis of Govt. Registry Rates, and not on the basis of fair market rates. I contacted the valuer personally and discussed the matter and he admitted that he did a mistake. Now the valuer is ready to revise the valuation report.I informed the AGM of the SBI of the situation and requested him to send the report to the valuer for review. He promised me to do so, but after many reminders the valuer is still waiting to be asked by SBI for reviewing the report. I also requested SBI officials to take a second opinion from some other panel valuer, but nobody is listening.

My queries are :-

1. The SBI charged me Rs 4800 for search and valuation reports. It means I have rights to see and ask
copies of these reports as I have paid for them. Then, how could SBI deny me for so?
2. SBI personnels are continuously harrassing me on my requests to send the valuation report either for
review or for second opinion. They promised me to do so whenever I contacted them, but they did
nothing and 15 days have been passed.
3. I am tired and sick of such an attitude of SBI personnels. One of the SBI official who is dealing my case
was earlier transferred from the cell to elsewhere due to similar complaints of harassment, but he was
posted again there on deputation due to sudden increase in take over cases.
4. As I pursued the case a lot, it also seems that even after disposal of this valuation issue, SBI officials may
harass me raising other objection.

Kindly guide / advise me what to do in such a scenario. Such SBI officials are defying me to take benefits of recently launched home loan rate cut schemes of SBI. Kindly give me e-mails of some senior SBI officer to whom I may complain.

Anil Kumar
(hello_betu@yahoo.com)

Also, if SBI refuses to sanction me the loan due to some objection, then will SBI refund me Rs 4800 which SBI deducted from my Account for search and valuation reports?

Kindly answer my queries.
Thanks !

Anil

i want my home loan to take over by any psb is the valver has to evaluate it again and if the property rate has fallen then what
thank you
aruna

Dear Sir/Madam,

I availed house building loan from HDFC Bank against loan account no. 471071823 in 2005-06 and subsequently development loan against the same property against loan account no. 474311098. Based on my application to SBI to take over the loan, Rs 11,10,501/- was paid as a balance principle against both the loans to HDFC in Feb/Mar, 2009 by SBI. In addition to this, HDFC has also charged 3 % of this money as a prepayment charges. At the time of availing loan from HDFC, they said they would charge 2 % if the loan is taken over by another bank. Recently I got it know that as per RBI guidelines no bank should charge prepayment fee from any of the customers. Even if the total amoount cann't be refunded, atleast the excess amount of 1 % chrged may please be refunded along with the interest to me.
Thanking you,
Peddina Satyanarayana

Hi All

SBI Home Loan procedure is really a mess and no one has any clue of what is the real procedure and getting an application signed with SBI means getting into a trap like anyother home loan banks.

The interest rate might be attractive but the service is pathetic and no professionalism.

No respect.. Nothing u can expect..

The process is so horrible and messy that end of the day you will find that to be same as any other bank even though the other banks offer higher rate of interest. Please consider your time and effort involved when going to SBI.. obviously it plays a important factor for me..

Initially you would be given a standard checklist which most of us can fulfill but later that checklist will run into pages which most of use would not be able to adhere to.. unnecessary time waste had it been known at the first instance.

The most important thing is the entire process will go to months..

HI ALL,

I have a Home loan with Gruh Finance(Subsidary of HDFC), which I wanted to transfer with SBI. So two month back I have visited one of the chembur Branch of SBI for the loan Take over, the officer taking my case have investigated my papers and has confirm me that my papers are fine and my homeloan will be takenover with SBI, howeve after two months of continous followup with them, by the end of two months they inform me that SBI do not takeover loan from GRUH Finance, but SBI has not provided and proper explanation why they do not takeover loan from Gruh Finance. So despite having my very good Track record of Homeloan payment with Gruh Finance, SBI has rejected my appliaction. So can anyone guide me what further action I should take to transfer my loan to SBI.

dear anil kumar,
the rule in banking law clearly states the bank should 1st access and then only advice the prospective loan applicant whether the matter can be moved forward and the loan can be sanctioned.
The valuation-service charge, processing fee can be deducted from the loan availed.
TAKING MONEY Before sanctioning a loan states there is some pilferage and underhand operation at the banks employees side.The person needs to be investigated.Also it is comman untold practise in many banks ., that the bankers of today expect that a prospective loan applicant needs to keep in mind. The valuer if paid a bribe underhand and also the credit manager by this gets a portion for himself actually sanctions the loan.this is the practical scenario in the corrupt world of today.
for legal assistance contact: dr.soans
at : 09245201687

Good Morning..
I am having two HDFC loan; one is through ECS and 2nd through PDC.
In 1st loan where there is ECS debit from my account in SBI and two installment deducted. On third installment dedcution, SBI asked from HDFC for User No (or utility no) is also required along with ECS mendate to ensure regular cutting of instalment. Due to this reason, My a/c was debited little late & HDFC imposed penality for RS 275 for late deposit of installment which actually was fault on part of HDFC that they have not submitted User No (or utility no) to SBI along with ECS mendate whisch i submitted to HDFC.
In 2nd Loan, i made a prepayment of 200000 with 6 days simple interest on 05.04.11 at vaishali ghaziabad branch and told the dealing officer that KIndly tell me the next amount of PDC after considering prepayment and resulted outstanding on that day. She told me that your installment has reduced to 6350 from 9599 and submit your PDCs. I did the same. After that i got two calls from chandigarh branch from where loan was sanctioned and disbursed that there is outstanding installment for RS 9599 & penal interest of Rs 201 for march 11. Then i explained the facts regarding pre payment made by me. Which she agreed that dealing officer at ghaziabad branch has made wrong calculations. Then i said why you charged penality of Rs 201 on me for the mistake done by your officer at different branch.
Pls help giving your suggestions
bbkashyap@gmail.com
9968282302