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Old 18th September 2018, 20:52   #166
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Default Re: SBI Car Loan - My Experience

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Now My SBI Loan started deducting 2950 Per month as RC copy charges. Paid a visit to the metro branch Bangalore and checked it up with them. Accountants have changed multiple times and my RC details was not updated. Got it all done, and the charges reversed by the branch after multiple rounds of follow up. I thought all was well.

Last month from the back end all the reversals are being charged back again. I visited the branch today to be told wait indefinitely for backend to be sorted out, and it cannot be done from the branch.

Branch Manager is on leave till Monday. Let me talk to her before the next cause of action.

Already two days of visits and multiple round of emails and phone calls are over.
If anything goes wrong, their govt work attitude just shows up. The accountant almost made me feel the problem was non existent and I am making some fuss for loose change


Anybody out here who can help me out with this?
Finally yesterday the issue was sorted out. On visiting the bank, the newly appointed Branch Manager understood the blunder of double deduction, and immediately gave the credit note in my favor.

The way the accountant messed up the whole stuff, and the arrogance in which the accountant and Branch manager defended the blunder was nerve wracking. Finally when we did a class of simple addition and subtraction, they understood double subtraction is not what a good banker or one who is good at math does.

They were too headstrong to accept their mistakes, anyways my job done. Wished them many more mathematical days and came back.
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Old 2nd June 2019, 19:51   #167
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Default Re: SBI Car Loan - My Experience

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the blunder of double deduction,
They were too headstrong to accept their mistakes,
I have been through a similar double deduction from my account, only my cheque was used to take EMI for some other person. Here was my ordeal with them.

SBI error (SBI Car Loan - My Experience)

A very funny incident happened on 23/05/2019, I had visited the SBI Chembur branch for loan closure by pre paying the balance amount. To my shock the wise lady who is supposedly the loan processing officer asks me "To pre-close the loan, you might have to produce proof of income or bank statement and a letter explaining how have I procured this amount" (the balance loan amount being Rs. 216800 )

I asked her again if I was hearing it right and to that she again repeated the above line. Very calmly I asked her to show me the protocol of asking such absurd question before foreclosing the loan and in a very polite manner I sat there asking the manager to come out and explain me this procedure.

The manager quickly apologized and the whole procedure was done in 5 mins flat.

I paid the balance amount via cheque, they took the amount till 28/05/2019 whereas the amount got deducted from my account on 23/05/2019. Still I didn't mind it and asked them to give me the NOC and Form 35 asap.

Got the NOC and form 35 on 27/05/2019 and submitted the same to RTO for Hypothecation cancellation. Now I only hope they don't deduct the EMI again on the 15th.

Also note the SBI 0% prepayment charges scheme has been withdrawn.

Last edited by The Great : 2nd June 2019 at 19:52.
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