Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance


Closed Thread
 
Thread Tools Search this Thread
Old 30th July 2007, 07:42   #16
BHPian
 
Join Date: Jan 2007
Location: Pune
Posts: 258
Thanked: 26 Times
Default

I would also advise you to take a look at LIC for your loan.
subscrive is offline  
Old 30th July 2007, 08:07   #17
Senior - BHPian
 
akroy's Avatar
 
Join Date: Feb 2006
Location: San Francisco, CA, USA
Posts: 2,414
Thanked: 29 Times
Default

Quote:
Originally Posted by desideep View Post
Hmm my dad is Scale 3 Officer for state bank of india have seen the way the people use to work there since child hood... it have come a long way... i beleive that state bank is the best.. my dad usually says


Quote:
Nai Bahu Ka to sabhi ko SHAUK hota hai But kam to PURANI WALI HI KARTI HAI...
Good One, much like what are familiar with, "OLD IS GOLD "

Abhi
akroy is offline  
Old 30th July 2007, 09:13   #18
Senior - BHPian
 
madan80's Avatar
 
Join Date: Jan 2006
Location: Santa Clara, CA
Posts: 1,356
Thanked: 73 Times
Default

well, i had a wonderful experience with SBI while taking a loan for my car. they were very polite and courteous. Heard some horror stories about friends and families taking loans from other private sector banks. My loan was approved in two days- a person came home and collected the papers - on that Saturday i took the papers for verification - Tuesday a perosn came to my office for verification - wednesday loan was approved - friday the cheque was given to me - sat I got my car. No running around - no extra tension.
madan80 is offline  
Old 30th July 2007, 09:23   #19
BHPian
 
Join Date: Mar 2006
Location: Chennai
Posts: 111
Thanked: 12 Times
Default

Guys,

Here is my experience with SBI. I'd taken a credit card with them. I was expecting a Master card and I got a Visa. Apart from that My credit limit was set at 1 Lakh. When I enquired was told that they are not giving master card at all, whereas their website says that indeed they give.
When asked about the credit limit, was told that every 3-6 months they increase, and wanted me to wait it out. Hmmm.... I checked with other private bank HSBC. Know what they also said they will give me only a Visa card!!

On credit limit the private banks do give me larger amounts.

On summary I'm still with SBI. The reason is that there is transperancy all through. What I expect is what I get. Nothing is hidden.

Regards,

lsjey
lsjey is offline  
Old 30th July 2007, 09:51   #20
Senior - BHPian
 
esteem_lover's Avatar
 
Join Date: Jul 2006
Location: Madras/Py
Posts: 7,554
Thanked: 445 Times
Default

One more reason to stick with the nationalised banks is that Private banks are ruthless in dealing with a default in payment. within 24 hours you will receive a call from a rude person & within 24hrs of that someone will be calling on you at office or at home. They do not give their customers even breathing space. Imagine a person who has a genuine problem & he could not pay his monthly due, he will be made to regret that.
esteem_lover is offline  
Old 30th July 2007, 10:13   #21
BHPian
 
xbox360's Avatar
 
Join Date: Mar 2007
Location: Hyderabad
Posts: 226
Thanked: 76 Times
Default

Quote:
Originally Posted by desideep View Post
Nai Bahu Ka to sabhi ko SHAUK hota hai But kam to PURANI WALI HI KARTI HAI...
great quotes ++;

Not just car loans, i found SBI to be the best in terms of product and service when applying for a Home loan a year or so back. The managers and staff at SBI were always patient and approachable unlike the dumb and sometimes downright illiterate staff at ICICI and HDFC. The only issue with SBI is that being a Govt undertaking they probably don't bend the rules or work around hurdles like the Pvt banks.
xbox360 is offline  
Old 30th July 2007, 10:28   #22
Senior - BHPian
 
esteem_lover's Avatar
 
Join Date: Jul 2006
Location: Madras/Py
Posts: 7,554
Thanked: 445 Times
Default

Quote:
Originally Posted by subscrive View Post
I would also advise you to take a look at LIC for your loan.
Could someone post a translation for this one please ?
esteem_lover is offline  
Old 30th July 2007, 10:37   #23
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,748
Thanked: 89,395 Times
Default

Most of the businessmen from our community bank with either SBI or UBI. The charges and bank fees charged by these are a fraction of what the money-monger ICICI's of the world bill you for. The customer service received at SBI / UBI is actually far better for us, since more often than not, its a personal rapport with the manager. And they allow a LOT of flexibility.

We really dont think too much of the MNC banks.
GTO is offline  
Old 30th July 2007, 10:52   #24
Newbie
 
Join Date: Jan 2006
Location: Bangalore
Posts: 23
Thanked: 0 Times
Default

Right Said guys.. SBI is seriously far better than many other banks Here.. Now a days they have picked up speed in a Great way making inroads of the business of ICICI and other Banks.. Even though ICICI flaunts they are the second largest bank.. the difference between SBI and ICICI is really huge.. Both the Customet point of view and the asset they own. Its really good to hear SBI is doing Good job...
FAst 'n furious is offline  
Old 30th July 2007, 10:53   #25
Senior - BHPian
 
lurker's Avatar
 
Join Date: Jun 2006
Location: Tura
Posts: 1,308
Thanked: 641 Times
Default

SBI officers and employees have to clear the SBI bank officers exam equivalent to any PSC exam to gain employment and usually these people have a higher IQ and smarts than the avg ICICI/HDFC employee.

ICICI/HDFC in banking and BSES in Power Supply have been the horror stories of privatization in India. Just goes to show that monopolizing by private players is usually disastrous with the only honorable exeption being the TATA group.
lurker is offline  
Old 30th July 2007, 11:06   #26
BHPian
 
ad75's Avatar
 
Join Date: Feb 2007
Location: Chennai
Posts: 265
Thanked: 20 Times
Default SBI requires Guarantor

SBI does ask for a guarantor even a car loan of few lakhs.
thats why i went for a pvt bank for my car loan.

everything else is good about SBI.
ad75 is offline  
Old 30th July 2007, 11:20   #27
BHPian
 
WhiteKnight's Avatar
 
Join Date: Mar 2006
Location: Bangalore
Posts: 828
Thanked: 73 Times
Default

Quote:
Originally Posted by narayan View Post
IMHO - lets report our bad experiences in this forum...but lets not pass sweeping judgements unless we know the bigger picture.....
Sounds okay.

But for me, the big picture doesn't matter. What matters is how my bank is treating me. I don't take pride in telling everyone that I bank with "xyz". What I want is trouble-free banking, and I think many would agree with me on that.

Everyday, I get unsolicited calls from banks (pity, the banks' whose credit card I already hold, also call me for the same!!). And every time, I had a problem, I found the key people at my MNC bank going "missing" and call center changes to "we can't provide the contact info" or" it is against our policy" blah blah.

Atleast I don't get call from american/Japanese carmakers yet

SBI and other public-sector banks are indeed the balancing factor in the industry. I wonder what would have happend to us, if they were not there.

Quote:
Originally Posted by GTO View Post
We really dont think too much of the MNC banks.
Wo don't think high about MNC banks either. The writing is on the wall for MNC Banks-for those who wish to see
WhiteKnight is offline  
Old 30th July 2007, 11:49   #28
Senior - BHPian
 
rahul_intlad's Avatar
 
Join Date: Aug 2006
Location: Pune
Posts: 1,577
Thanked: 2 Times
Default

Quote:
SBI does ask for a guarantor even a car loan of few lakhs
I took a loan just recently from SBI,they did not ask for a guarantor.

Quote:
And they allow a LOT of flexibility.
That is the key word,you can be surprised as to how flexible they can get for their customers.
rahul_intlad is offline  
Old 30th July 2007, 11:54   #29
Senior - BHPian
 
narayan's Avatar
 
Join Date: Aug 2006
Location: Singapore
Posts: 2,772
Thanked: 1,166 Times
Default

Quote:
Originally Posted by Sam Kapasi View Post
I know for a fact that government employees are paid through SBI. That the people in all 3 defense services are paid through SBI. That the municipalities are paid through SBI. That the provident fund is maintained with them. That pension accounts of retired govt and defense employees are maintained with them.

In fact I am told that the finance minister and prime minister of this country (and all other ministers) draws his salary from an SBI central government account.

I'm no finance and banking wizard, but that seems like pretty basic foundational stuff to me.


See, I don't even know what that means, but it seems very important at a foundational level.

It may not be running the country but these facts are more foundational than a Deutsche Bank or Barclay's Platinum card. And that is my solitary point.

I may be wrong. I can't count properly, leave alone having an argument at this level with you, a trained banking professional.

sam - a lot of things u mentioned on the govt a/cs are true - but my point is that does not equate to holding the fundamentals of the economy....

see its easy for u to say that u dont want to have an "argument" properly..but then thats the whole idea of the forum - i feel....when i dont know anything about ICE- u mite be the first person i would seek advice from....

net net - my point is - its always more likely that one reports good experiences with a nationalised bank than good experiences with a foreign/pvt bank bcos thats what we expect of them...
this is a perception issue and im doing my bit to put in some facts ....
narayan is offline  
Old 30th July 2007, 13:31   #30
LLL
BHPian
 
Join Date: Mar 2005
Location: Delhi
Posts: 634
Thanked: 2 Times
Default

Quote:
Originally Posted by lsjey View Post
Guys,

Here is my experience with SBI. I'd taken a credit card with them. I was expecting a Master card and I got a Visa. Apart from that My credit limit was set at 1 Lakh. When I enquired was told that they are not giving master card at all, whereas their website says that indeed they give.
When asked about the credit limit, was told that every 3-6 months they increase, and wanted me to wait it out. Hmmm.... I checked with other private bank HSBC. Know what they also said they will give me only a Visa card!!

On credit limit the private banks do give me larger amounts.

On summary I'm still with SBI. The reason is that there is transperancy all through. What I expect is what I get. Nothing is hidden.

Regards,

lsjey
other side of the coin - my friend got the credit card from SBI, it would get declined wherever he tried to use it. He tried calling SBI call center and as usual they had no clue. They ended up sending him a new card which finally started working. So not all is hunky dory.

My 2 other experiences with SBI -

1. Went to Malviya nagar branch in Delhi to open a new account. Form clearly said i only needed address proof and govt id OR Nomiation from existing account holder. Despite having both govt id and address proof, i was told to get a nomination. When i got the nomination, i was told i couldnt open an account as i didnt live in the jurisdiction of their branch.

2. I went to Noida Sec-2 branch which is walking distance from my office. Same thing - was told i cant open the account there as i didnt live in their jusridiction. IMagine in this age if internet banking......

So not all is hunky dory with SBI or other govt banks like OBC.

my experience with OBC - i have an acct in mumbai with them. Wanted to open an acct in delhi so i thought i will get it transferred to delhi. OBC told me i will have to close that account myself and they will open a new account for me. WTH, why would i open an account with them if i wanted to open a new account?

Compare this with HDFC - they told me to give them a letter, they will themselves work with mumbai branch and close the account there and open a new one here. Just 1 visit and all work was taken care of.
LLL is offline  
Closed Thread


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Buy car in state or out of state (Major price difference) autoenthusiast The Indian Car Scene 49 14th July 2017 01:21
Where should I sell the car: State of Registration or Current State? m_upreti The Indian Car Scene 50 12th July 2016 17:38
Buying a CV from State A and registering in State B Aravindpn Commercial Vehicles 7 30th November 2010 15:04


All times are GMT +5.5. The time now is 17:40.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks