Getting back documents submitted for loan requisition

POSTED BY Chethan S ON November 5, 2012 9:07 pm COMMENTS (5)

Recently one of my colleagues applied for a housing loan with a nationalized bank. He had submitted all necessary documents – PAN, salary slips, IT returns etc. along with the application. Later as he learnt about the complications associated with the property he abandoned his plans. As a regular reader of Jagoinvestor, I had read about the possibility of financial document misuse here and I feel he has to get back his documents at the earliest. He hasn’t approached the bank yet and I’m trying to convince him to do so! My questions here are:

  1. Is it necessary to get back all those documents submitted during application process?
  2. In case he approaches the bank and they say no need to worry without returning the documents what can be his next step in getting them? Whom can he approach?

5 replies on this article “Getting back documents submitted for loan requisition”

  1. Chethan S says:

    Hi forum members, sorry for not giving details of what happened later.

    My friend took my suggestion but due to issues with property he decided to let it go. Meantime the loan was also provisionally sanctioned. After some days bank (it was SBI) called him and asked him to take a decision on accepting the loan or take the documents back. He was told by bank officials that they can’t keep documents unless a loan is taken from them. Later he took his documents back.

    Thanks for all your guidance and thanks Ashal for reminding me!

  2. Dear chethan, what’s the update now from your side or should I say from your friend’s side?

    Thanks

    Ashal

  3. you should ask the bank to give it back , If bank says nothing to worry , insist on still getting it back citing that the documents can be misused and as its a nationalised bank , you can always file a RTI , asking the rules regaridng returning back the documents incase the process does not go through .

    Manish

    1. Chethan S. says:

      Thanks Manish! I have forwarded this link to my colleague. Trust he will be convinced now!

  4. Biswa Singh says:

    If you are concerned than ideally you ask the bank to provide all the documents.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.