Car Loan Transfer to Other Bank from BOB.

[Darthvader]

I have taken a Car loan from BOB year ago, the bank had created a savings account just for loan purpose, for auto debit process of loan from BOB SB.
Almost a year over there are several issues with this BOB bank.

- Every time i pay my monthly EMI precisely right amount, they are calling and asking for more as its a penalty. i do not understand what is this penalty for what ? Its a auto debit which happens on time. Last time 300 they asked more for debit card charges, since its of no use i blocked it and didn't reorder again.

- The Bank has a pathetic customer support, the agents are so rude that they have no clue. They keep saying go to bank where loan you have availed . Even to give the bank branch number also they suck big time.

- They had given me login creds for net banking but the portal says debit card invalid, number and email not registered. Its just crazy that i have a debit card but its is not recognized . (Before blocking tried).

I am fed up of these issues, hence i want to know can i transfer car loan to any other banks (axis,icici) ? If you have done/ have any idea on this please let me know.

 

[V360]

Looks like OP did not get a response on this.

I am about to take a car loan from BOB - do you think the service has improved after your post - they have offered both fixed and floating ROI.

No foreclosure charges too.

Others do comment if you have a POV.

 

[Darthvader]

Looks like OP did not get a response on this.

I am about to take a car loan from BOB - do you think the service has improved after your post - they have offered both fixed and floating ROI.

No foreclosure charges too.

Others do comment if you have a POV.

i emailed Regional head and it got solved later but they suck big time.

 

[V360]

i emailed Regional head and it got solved later but they suck big time.

Ohh- wish I had read this post earlier - now there is a loan enquiry on my CIBIL and the loan is approved too.

Let me see if I can explore any other option.

Thanks for the update Bro

 

[Darthvader]

Ohh- wish I had read this post earlier - now there is a loan enquiry on my CIBIL and the loan is approved too.

Let me see if I can explore any other option.

Thanks for the update Bro

Just see if they can do ECS from your existing account rather than opening a new savings account just for loan purpose and then put useless charges.

 

[V360]

Just see if they can do ECS from your existing account rather than opening a new savings account just for loan purpose and then put useless charges.

Sure - will check. Thanks

 

[Suspicious Activity]

Ohh- wish I had read this post earlier - now there is a loan enquiry on my CIBIL and the loan is approved too.

Let me see if I can explore any other option.

Thanks for the update Bro

What is the interest rate you have been offered

 

[V360]

What is the interest rate you have been offered

9.2 floating

 

[Suspicious Activity]

9.2 floating

What's your CIBIL score?

 

[V360]

What's your CIBIL score?

Brother itna details toh main Bank ko bhi nahi deta 😂

Are you taking loan from BOB?

 

[Suspicious Activity]

Brother itna details toh main Bank ko bhi nahi deta 😂

Are you taking loan from BOB?

Asked coz interest seems to be a bit on the higher side.. am a banker in the retail segment, so just asked out of general curiosity. Sorry if the questions were intrusive😂

 

[V360]

Asked coz interest seems to be a bit on the higher side.. am a banker in the retail segment, so just asked out of general curiosity. Sorry if the questions were intrusive😂

No no m fine taking these questions on DM.

Yes I agree ROI is on the higher side but BOB is offering no prepayment/part payment charges from Day 1. So I am fine shelling out few extra bucks as I will close the loan by end of this year.

 

[deep@vie]

I have taken a Car loan from BOB year ago, the bank had created a savings account just for loan purpose, for auto debit process of loan from BOB SB.
Almost a year over there are several issues with this BOB bank.

- Every time i pay my monthly EMI precisely right amount, they are calling and asking for more as its a penalty. i do not understand what is this penalty for what ? Its a auto debit which happens on time. Last time 300 they asked more for debit card charges, since its of no use i blocked it and didn't reorder again.

- The Bank has a pathetic customer support, the agents are so rude that they have no clue. They keep saying go to bank where loan you have availed . Even to give the bank branch number also they suck big time.

- They had given me login creds for net banking but the portal says debit card invalid, number and email not registered. Its just crazy that i have a debit card but its is not recognized . (Before blocking tried).

I am fed up of these issues, hence i want to know can i transfer car loan to any other banks (axis,icici) ? If you have done/ have any idea on this please let me know.

Auto loan transfer isn't possible

 

[anilkrsh]

No no m fine taking these questions on DM.

Yes I agree ROI is on the higher side but BOB is offering no prepayment/part payment charges from Day 1. So I am fine shelling out few extra bucks as I will close the loan by end of this year.

Ho do you prepay principal? When I try to prepay, it shows my future emis will be adjusted. Please help.

 

[V360]

Ho do you prepay principal? When I try to prepay, it shows my future emis will be adjusted. Please help.

For me BM has shared following current account details in below format:

For partpayment/prepayment account details:

Ac no:XXXXXXXXXXXXXXXXXXXXXX

Ac name: SUNDRY DEPOSIT RTGS OUTWARD MESSAGES

Type of account: Current