[Gordon]

Originally Posted by hserus

Get net banking access for your loan account.

You can see all credits to it just fine.

That may involve opening an sb account with sbi under the same CIF (customer ID)

My guess is you’re scheduling the transfer for just when it is due and their sms reminder system hasn’t caught onto the fact that transfer is done. So they anyway add a disclaimer in the sms like please ignore if already paid.

The date for my ECS is 15th of every month. A day prior I'll receive SMS asking to keep funds ready. A day later and another a week later I receive SMS saying the payment is pending and charges would be applied.

I do not have a SBI account. I do have my CIF number and have tried registering. But the "smart" app keeps giving errors.

Also, seems there are multiple apps. Which app do I need?

[hserus]

Just walk into your branch and open the account there under the same cif.

The yono app is decent.

[feluda86]

I wanted to part pay my loan with SBI. Do I need any document apart from the account number? Will I be given an option to reduce EMI or duration of the loan when I pre-pay?

[hserus]

Originally Posted by feluda86

I wanted to part pay my loan with SBI. Do I need any document apart from the account number? Will I be given an option to reduce EMI or duration of the loan when I pre-pay?

Just do a neft transfer to your loan account number and your name at the ifsc code of your branch.

The loan is on a reducing balance basis so if your emi stays the same the duration will automatically reduce itself, ceasing once your loan amount becomes zero.

[PrideRed]

My experience with SBI is pretty bad. First they did not honor ECS. Next they forced me to open as SB account with them and maintain 5K balance. A debit card was not given for SB account. Every time I go to bank, there is a huge queue.

[feluda86]

Originally Posted by hserus

Just do a neft transfer to your loan account number and your name at the ifsc code of your branch.



The loan is on a reducing balance basis so if your emi stays the same the duration will automatically reduce itself, ceasing once your loan amount becomes zero.

Thanks for the suggestion. Just one question. When I add the account for NEFT what will the account be added as - savings, current etc.

[NPX]

Originally Posted by PrideRed

A debit card was not given for SB account. Every time I go to bank, there is a huge queue.

You can order debit card through internet banking aka INB of SBI (no need to visit branch for INB, register directly from their website) or you can get debit card on the spot with your photograph on it at SBI intouch branch (that machine should be working when you visit )

[The Great]

Originally Posted by Gordon

I've taken a 3L loan for the Celerio. The process was smooth. However, the only issue I see is that even though my payments (ECS) are going out in time, I keep receiving SMS saying that the payment is not done and to pay immediately, else charges will be applied. Checked with my branch who asked me to ignore these messages. He sent me a screenshot of the statement showing that no charges had been applied and the account is in order.

Still skeptical though.

I have faced the exact same issue which I had also mentioned earlier in the thread sir. My ECS date was changed due to their error and the sms keeps coming in the older date.

Do not worry sir, I am getting these messages every month since 1 year. To make sure I checked my Cibil score and it is not affected at all since my EMI's go in time on the newer date.

Also I was never asked to open any account for the same and my Emi's are linked to ICICI bank.

[PrideRed]

Originally Posted by NPX

You can order debit card through internet banking aka INB of SBI (no need to visit branch for INB, register directly from their website) or you can get debit card on the spot with your photograph on it at SBI intouch branch (that machine should be working when you visit )

I did manage to get a debit card after placing a separate request. But should not one get it by default while opening an savings account?

[NPX]

Originally Posted by PrideRed

I did manage to get a debit card after placing a separate request. But should not one get it by default while opening an savings account?

yes, one should. But debit card is delivered by India Post, so sometimes it may get lost in transit.

[chaudh2s]

Is it mandatory to submit blank, signed form 29 & 30 to the SBI before the bank provides the DO to the dealer. I was made to submit these 2 vehicle ownership transfer forms, on the pretext that in case I fail to pay back loan, the bank can transfer the vehicle to themselves. They assured the forms would be returned back, once I close my loan. Is it a scam or something unscrupulous here, or is it normal procedure. Please advise.

[hserus]

Originally Posted by chaudh2s

Is it mandatory to submit blank, signed form 29 & 30 to the SBI before the bank provides the DO to the dealer. I was made to submit these 2 vehicle ownership transfer forms, on the pretext that in case I fail to pay back loan, the bank can transfer the vehicle to themselves. They assured the forms would be returned back, once I close my loan. Is it a scam or something unscrupulous here, or is it normal procedure. Please advise.

Did you give these directly to the bank or to an agent? Normally the bank's hypothecation agreement allows them to seize the car without any issues if you don't meet your EMI deadlines.

[chaudh2s]

Originally Posted by hserus

Did you give these directly to the bank or to an agent? Normally the bank's hypothecation agreement allows them to seize the car without any issues if you don't meet your EMI deadlines.

I gave them directly to the bank manager, who was getting my signatures on all loan documents before disbursal of loan. Is it a standard practice? Can these signed forms leak out of the file and be misused?

[laluks]

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?

[aneeshtn]

I had faced similar issue, but i was able to sort it out via a phone call and sending RC copy via email. They reversed the charges after that.