tuhin
TF Premier
Think before applying for a loan from the Bank of Baroda. They simply cheated me & deducted my hard-earned money without giving any proper disbursement. Let me elaborate on my issue here:
I approached my BOB Branch to apply for a home loan on 12th Sept'24. Initially, BM asked me to share my PAN & Aadhar details over WhatsApp for further processing. After that, she enquired about my CIBIL without getting any written confirmation from me. One day after BOB Spoc contacted me to collect some more documents. I already raised concern over such CIBIL enquiry & SPOC assured me that no further enquiry will be taken from the BOB Side for processing this loan. BM & SPOC also promised that this loan would be sanctioned by 31st Sept'24 without any delay so I applied for this loan & confirmed the same over email on 15th Sept'24 for 18 months of Moratorium Period as well as 30 years of Loan Tenure. Initially, both of them agreed to my proposal & assured me of a quick sanction on my request. Unfortunately, the process went along unexpectedly & I enquired about the status continuously. Till then, they didn't share any other terms for this loan disbursement. I didn't hold my patience after passing the 1st of Oct'24 so I asked them to cancel the process or expedite it as I had to pay my developer as the instalment mentioned in the agreement. After a few days, SPOC came to me & told me that this loan couldn't be sanctioned if I couldn't provide an old deed which was not present in the RERA site as BOB had the clause of searching 30 years of documents for the property. I managed the deed after a few days on 3rd Oct'24 & SPOC promised me that this loan would be sanctioned within 2 days i.e. 5th Oct'24. Till then, neither I received any official communication from the bank through letter or sms or email regarding the loan process & application but they deducted Rs 5900 as the legal charges on 16th Oct'24. I lost my patience after that & raised one complaint against BOB on 17th Oct'24. After raising this complaint BM contacted me & she assured me that this loan would be sanctioned by the Bank's end within the same week. After that one loan manager from BOB contacted me & he described all the terms including a few new ones like I needed to register my agreement after getting the sanction letter. This clause was new to me & I agreed on it initially. Then, the loan manager confirmed to me that this loan couldn't be sanctioned for 30 years tenure instead they could only provide 24.7 years. I rejected this new proposal & asked him to cancel & refund my money. Then, I requested my branch as well as reached Nodal Officers to get the money but the bank denied my proposal every time. Now, I feel cheated from BOB's end every time. Neither they have provided me with the loan with the promised tenure nor they have mentioned any official application/loan number for this process but they deducted my money unlawfully. Even, they hit my CIBIL 2 times for single loan processing to damage my score to some extent. Surprisingly, SPOC contacted me on 22nd Dec'24 once again over Whatsapp to push me to consider the term insurance from the Bank's end to get the loan for a 30-year tenure. Now, this is also violating the regulatory guidelines for such cases. I never expect such a scenario from a leading PSB like BOB.
I approached my BOB Branch to apply for a home loan on 12th Sept'24. Initially, BM asked me to share my PAN & Aadhar details over WhatsApp for further processing. After that, she enquired about my CIBIL without getting any written confirmation from me. One day after BOB Spoc contacted me to collect some more documents. I already raised concern over such CIBIL enquiry & SPOC assured me that no further enquiry will be taken from the BOB Side for processing this loan. BM & SPOC also promised that this loan would be sanctioned by 31st Sept'24 without any delay so I applied for this loan & confirmed the same over email on 15th Sept'24 for 18 months of Moratorium Period as well as 30 years of Loan Tenure. Initially, both of them agreed to my proposal & assured me of a quick sanction on my request. Unfortunately, the process went along unexpectedly & I enquired about the status continuously. Till then, they didn't share any other terms for this loan disbursement. I didn't hold my patience after passing the 1st of Oct'24 so I asked them to cancel the process or expedite it as I had to pay my developer as the instalment mentioned in the agreement. After a few days, SPOC came to me & told me that this loan couldn't be sanctioned if I couldn't provide an old deed which was not present in the RERA site as BOB had the clause of searching 30 years of documents for the property. I managed the deed after a few days on 3rd Oct'24 & SPOC promised me that this loan would be sanctioned within 2 days i.e. 5th Oct'24. Till then, neither I received any official communication from the bank through letter or sms or email regarding the loan process & application but they deducted Rs 5900 as the legal charges on 16th Oct'24. I lost my patience after that & raised one complaint against BOB on 17th Oct'24. After raising this complaint BM contacted me & she assured me that this loan would be sanctioned by the Bank's end within the same week. After that one loan manager from BOB contacted me & he described all the terms including a few new ones like I needed to register my agreement after getting the sanction letter. This clause was new to me & I agreed on it initially. Then, the loan manager confirmed to me that this loan couldn't be sanctioned for 30 years tenure instead they could only provide 24.7 years. I rejected this new proposal & asked him to cancel & refund my money. Then, I requested my branch as well as reached Nodal Officers to get the money but the bank denied my proposal every time. Now, I feel cheated from BOB's end every time. Neither they have provided me with the loan with the promised tenure nor they have mentioned any official application/loan number for this process but they deducted my money unlawfully. Even, they hit my CIBIL 2 times for single loan processing to damage my score to some extent. Surprisingly, SPOC contacted me on 22nd Dec'24 once again over Whatsapp to push me to consider the term insurance from the Bank's end to get the loan for a 30-year tenure. Now, this is also violating the regulatory guidelines for such cases. I never expect such a scenario from a leading PSB like BOB.
