EMI Repayment : SBI insists on ECS from salary account and not Standing Instruction from sbi account

POSTED BY roshan ON April 28, 2014 7:05 pm ONE COMMENT

I am in the process in shifting my home loan to SBI. In my previous bank a standing instruction was created to move funds from savings a/c to loan a/c. However in SBI they are insisting only on ECS from my salaried account for emi payment. Is this true for everyone who has taken loan from sbi here?

One reply on this article “EMI Repayment : SBI insists on ECS from salary account and not Standing Instruction from sbi account”

  1. ashalanshu says:

    Dear Roshan, earlier SBI was allowing EMI payment from non salary account. Due to rising NPAs, it seems a new condition inserted in past few months. My own Max Gain EMI is from SBI SB account which is a non Salary account.

    Thanks

    Ashal

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