Axis Bank - Processing fee not refunded on rejection of loan

Hi Sir,

I’m Philip Alexander from Saravanampatti, Coimbatore.

I had applied for a loan against property in AXIS bank on *-September ****. The loan reference number is ********. The executive who visited my house and collected all the documents was Mr. Muralidharan (Mobile:**********) who works at the below address of your bank at Coimbatore. Dr R, Magnum Towers, No ***, *nd Flr, Dr Nanjappa Rd, Gandhipuram, Tamil Nadu ******

I inquired him whether this loan will be approved because my personal loan application got rejected by AXIS Bank * months ago. I told him there were two reasons due to which the previous loan application was rejected. There was an overdue loan from India Bulls and credit card settlement with SBI. Listening to this he and said there would be no problem in getting the loan as it is a loan against property and he assured me that he would get it approved. After which he asked for a cheque for Rs.****/- towards processing fee. I asked him whether the processing fee would be refunded in case of rejection. To which he replied no. But still promised that he will get the loan approved. Believing him I handed him the cheque No.****** Drawn on HDFC Bank for the said amount.

After two days the amount got debited from my account. Then we followed up with him regarding the status of our loan application. He replied that I need to get him the NOC for the overdue loan from India Bulls. It took me a week’s time to get it and send it to him. After that there was no update from him and when we followed up again he informed that our loan application was rejected due to the overdue loan for which I gave him the NOC.

I asked him why he took the cheque from me despite knowing the overdue loan. But he denies the fact that I informed him before hand about the loan from India Bulls. I tried many times over phone to understand from him why he took the cheque knowingly. But he keeps repeating the same story as if he has been well trained by someone from inside.

This guy doesn’t seem to know the norms of loan approval and yet he convinced me to pay the processing fee upfront. When my loan is rejected he doesn’t want to take responsibility but ignores my calls.

Before taking the cheque he should have known that the loan application would be rejected in case of overdue in the CIBIL report and also should have informed the same to me. He failed to do it.

Despite that I gave him the details about the overdue loan from India Bulls and the credit card settlement with SBI. Still he convinced me that the loan would be approved and promised me that he would see to it.

You can clearly see that this is a mistake by the bank employee and I’m suffering the loss.

I requested the bank to refund my money. But, they refuse to do it. Herewith I have attached their response for your reference.

I will be grateful if you could look into this and help me get back my money.

Regards,
Philip