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Guidence Needed_SBT car loan

Discussion in 'Insurance & Loan Reviews' started by Xufer, Aug 29, 2010.

  1. Xufer

    Xufer

    Messages:
    7
    Chennai
    Hi Pals,

    On 21 August, Saturday I have applied for a Car loan From SBT, Alwarpet, chennai branch submitting all the necessary documents.

    I have already availed a car Loan from SBT for my Wagon R (it got dispersed in 5 days :clap )
    so i have clean track record of my previous loan which i have already preclosed .

    Till now i haven't received any communications from the bank,
    i visited the bank twice in this week but the senior manager replied that the documents are in processing ,
    he can't even tell how much time it will take for the loan dispersement :shocked .

    Now I am on pressure from the car dealer :sadblue .


    After some serious survey i came to know that the loan process of all the branches have been centralised and linked with SBI.


    Would like to hear from those who has availed SBT Car loans recently as to how long did it take for you to get it approved ?

    How to escalate the branch & proceed?

    shall i apply with some other bank(seriously no private / foreign bank/ Private finance)?
  2. royj

    royj Esperto

    Messages:
    1,306
    Trivandrum
    I got the loan for Punto from SBI, they have everything centralized. It took about 7-8 days in my case including the holidays in between. When I heard nothing from them after 5 days, I followed up with the branch where I had submitted the application. The manager there was helpful, she made some calls to the centralized loan processing center and traced out my application, then gave me the contact of the person to meet there. Then I went to the loan processing center, followed up with the person and got everything cleared in two days time. In my case the person who received my application had gone on leave for two days without handing them over to the next person in charge. So my papers were safely locked up in his shelf until he returned.
  3. Buying a car in india is a circus indeed .... Bank or the dealer someone makes fuss and keeps us away from our beloved cars for a long time .. i faced exactly opposite situation .. bank guy was pressurising me to disburse amount but car wasn't ready ...I got my loan from HDFC and i did not have to go to their branch or call anyone .. i have salary account there so no fuss with documents too.. you can check HDFC out, my experience with them has been very good.. btw what interest did you get the loan for ?

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