Complaint against State Bank of India, RACPC2 – Madhapur, Hyderabad

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3 responses to “Complaint against State Bank of India, RACPC2 – Madhapur, Hyderabad”

1. 

   Ram

   October 22, 2014

   Absolutely right. SBI playing smart by attracting with low interest rates and pleading ignorance about not updating the interest rates by their software and debiting the loan accounts with huge amount after 5 /6 years. Same thing happened to many including me. Its nothing but cheating the customers with huge penalties for their mistake. I sincerely advise not to go for home loans with SBI. End of the day you have to more interest to SBI than any other bank.
2. 

   M K Roy

   September 2, 2015

   Dear Sir/Madam,

   My Home Loan A/C number is 30957608199 which is with Navghar Branch (Branch code – 2184). I made the entire payment of the loan. So, from 25th August 2015, I do not owe Bank any money for this Home Loan.

   Bank officials (Manager and Senior Manager of the Navghar-Bassein Road branch, asked my father to get a Power Attorney from me so that my Father can take the original Flat Agreement copy and also get the Foreclosure, ECS closure and Loan Closure documents.

   I am currently located in San Francisco, California, USA on a project. Hence I took the SBI format of Power of Attorney and got it Notarised from Local Notary officer and then got it apostilled from the State Capitol in California. After all these I took the Power of Attorney to The Indian Embassy in San Francisco and got it authenticated by them as well. Then I couriered the Power of Attorney to my Father in India; now Bank is telling that this Power of Attorney will not work as:

   1. Notary was not done in all the pages of the Power of Attorney (3 pages)
   – In USA, Notary is done only in 1 page of the entire document

   2. Indian Embassy did not authenticate the Power of Attorney in all the 3 pages
   – In USA, the authenication stamp for any document is not done for all the pages. It is done in one location for the entire document.

   My problem:

   After making a BIG payment of Rs. 18,50,000 INR, my Father is not getting the Original Flat agreement documents.

   This is absolute injustice.

   PLEASE HELP
   PLEASE HELP
   PLEASE HELP

   Contact – M K Roy
   +91-8446582238
3. 

   Aniket Fulari

   June 23, 2017

   same issue with mee
   I have taken a Home Loan from State Bank of India Housing loan principal amount 9,50,000/- (My loan Account Number 11615026464) in 2007. The Home Loan EMI is 9100/- in sanction latter intrest rate is 8% per year (floating),my Savings Bank Account number (11614937070). Even after paying loan 11 years my Principal Amount for the Loan wasn’t coming down.and goes higher than principal amount goes to 11,92,729 AT 31 Jul 2016 ,According to my loan payment slip calculation i have paid 11,60,00 till 17 june 2017
   Recently (Nov 2017) I went to SBI – (AKOT, MAHARASHTRA ) to find out why my Principal Amount was so high even after paying Loan for 11 years now. The officer, I talked to, checked my account and mentioned I was intrest rate in 2008 year 12.75%per year and outstanding amount is 10 lakhs in 2008 suppose my outstanding amount is 10 lakhs in 2008 and my rate of interest is 12.75% i paid emi emi 9100 as given in sanction letter my loan amount not closure in lifetime and my will goes higher than principal amount i have checked calculation on emi calculator i was surprised as in the last 11 years SBI never sent any communication to me stating that my EMI was low or present interest and about outstanding amount
   After this I generated the complete history of the account to see what was happening. I was shocked to see that for a couple of months the interest charged for the month was more than my EMI and the difference was being added to my Principal Amount. During the last 11 years the Bank neither sent me any communication about my EMI being low compared to what I need to pay nor communicated to me that they kept on increasing my principal amount. Because of this I incurred double loss: 1. All my EMI was going towards the interest part of the Loan due to which the duration for the Loan increased 2. My principal amount increased because the interest amount beyond the EMI was added to the Principal All other banks that provide Home loans either increase the EMI amount or increase the duration of the loan when the Home Loan interest rates increase. . I have checked with many other friends who have availed Home Loans from different Banks too and they said the same too. I strongly believe that it is the Bank’s duty to notify the customers when anything related to the account changes. Like in this case the Interest Rate changed. It is very unfair on SBI’s part to just keep charging interest and add the delta amount (interest more than the EMI amount) to the Principal amount. Note that even when I went to the bank in 2017 to enquire about my Home Loan, no one from SBI told me that the EMI I was paying was less compared to what it was supposed to be. I strongly believe that I should not be penalized for the mistake on the Bank’s part.
   I feel cheated by SBI and have lost trust in them. I request you to look into the issue and provide justice to me by asking SBI to deduct the additional amount they added to the Principal amount of my loan and the Interest charged because of the additional Principal amount. Below are the details of the EMI where the Interest charged was more than the EMI amount.
   Home Loan Principal amount has been increased because of Higher part period interest than my EMI amount i am not sure SBI Calculate my emi and rate of interest on that time so i am suffering from this situation Request your help in providing me justice.
   i was surprised as in the last 11 years SBI never sent any communication to me stating that my EMI was low or present interest rate and about outstanding amount
   Details of the Complainant: ARUN NAGORAO FULARI Shrikrupa Colony plot no 18 Akola Road Akot AKOT,MAHARASHTRA,444101 India Email: [email protected]
   Complaint against: State Bank of India