State Bank Of India Ranked #1 of 1 Loan Companies

4.5 from 2 reviews

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  1. Pammu ....Welcome to the forum , beautifully craved out in words ... illustrive approach in explaining things
    I was not totally aware SBI have this concept of topping up the insurance plan alongside the car loan without the customers
    consent ,hindside its good to know people can opt out of it - relieved !
    We in mumbai have a different concept ...time is almost everything but our (Mine) patience definately would have ran out with SBI (one year back)
    when COncorde offered me a plan with them...But the Sweet part of your review should change that image hopefully...rightfully so,
    SBI has the edge over others!

    I hope your car deal is the best thing you could have experienced so far while owning a FIAT Drive

    Regards
    TND
  2. pammuluvcars

    pammuluvcars Regolare

    Messages:
    262
    IN
    thank u torquey

  3. HAHAHA ... ::D
    Mate,
    I m sure that wasnt a Good state to Be, while your file went Pooooof... !
    and return back to you ...delaying your excitement just a tad bit

    Regards
    TND
  4. shree

    shree

    Messages:
    21
    Bangalore
    I talked to SBI branch manager wrt insurance cover from SBI-life over phone and he asked me send the request over email with cover I already have. Within 15 minutes he replied saying that he will take care of it. Just couldn't believe that we could do business with SBI over phone/emails ( I was resigned to the idea of visiting SBI :)) . I guess only managers know that it can be waived, because person who was handling the loan papers continued to say that insurance from SBI life is mandatory. Thanks pammuluvcars for putting in your review
  5. pammuluvcars

    pammuluvcars Regolare

    Messages:
    262
    IN
    Shree, actually the guy who did the documentation only told me that its not mandatory. He was very cooperative. He was a gentleman. You went to the car loan department on lavelle road?
  6. redbull

    redbull

    Messages:
    292
    Bangalore
    Oh! I did not know that! The way the loan processing guy was telling that it was mandatory, I thought it is better to take it and get the loan through. Anyway I can comfort myself now that if something untoward happens, the asset is still protected for the family to sell/hire etc. For me the SBI people took 10 days and a good number of phone calls. Best part is that to make things easy (for themselves) they put the ECS on my SBI account and not the salary account. They just advised me to put a monthly standing instruction from the salary account to the SBI account. Last time I took SBI car loan, they made me run to my bank to get the ECS mandate signed.
  7. kr_vasudev

    kr_vasudev Superiore

    Messages:
    611
    Bangalore
    I too applied for car loan at SBI. I have a different experience. I must tell you, SBI is one big white elephant. I have not seen such type of lazy employees anywhere else.

    I applied for loan on Feb 7th and they promised to release the payment before 18th of Feb so that my car registration process can happen smoothly.

    I have visited twice to the branch and twice at the dealer location regarding the loan processing. On 10th Feb SBI loan officer told me that chief manager has undergone operation and they will be available on 17th and my application will get cleared on 17th.

    To my surprise when i approached them yesterday, they are yet to process my application. I sat at the branch for about 3 hours and ensured that my application is in final stage. At 3 PM officer told they will reach out to chief manager residence and get the approval done. I left the bank happily.

    Today morning called up loan officer and he gives me nonsense. He says, he is yet to visit manager residence for approval and i might get sanction letter tomorrow or on Monday, i just said thank you very much sir and kept the phone.

    I cannot take anymore of this, called dealer and started with , deduct my cancellation charges and pay me the balance, i do not want my car. Immediately dealer says, sir we will ensure that loan gets sanctioned today and you pay the balance today itself so registration can be done tomorrow and i can take the delivery on 20th Feb.

    I agreed to the above and told them, get the sanction letter and give me a call. I have to pay some 3.5L balance and will be paying by cash upon the receipt of Sanction letter from Bank.

    I am just waiting waiting waiting :evilsmile

    Thanks
    Vasu
  8. pammuluvcars

    pammuluvcars Regolare

    Messages:
    262
    IN
    Vasu, which branch of SBI car loans you had been to?
  9. kr_vasudev

    kr_vasudev Superiore

    Messages:
    611
    Bangalore
    Mahadevapura - Whitefield branch. Since the start i had doubt on the efficiency of employees. I had raised my concern with the dealer.

    Let me see how it ends :)
  10. pammuluvcars

    pammuluvcars Regolare

    Messages:
    262
    IN
    I had been to the Lavelle road branch. The office as well as employees were very professional in their approach and dealings. I received the DD on the same day i had the interview. In 3 hours.....!!!

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