Shameless Self Promotion ;-) ™ © ℠ ®

Recently SBI slashed rate of interest for car loans. Just 10%. Enough for anyone to own a car. I too get tempted and gathered all my documents, ITRs, bank account statements, residence IDs, Form16/17/18/19…, and 2 passport size photographs(why do they call a postage stamp size photographs passport size photographs) and landed in SBI. They looked at my salary slips and were like OMG , your loan will be disbursed this weekend. I was surprised too , this a sarkari setup and how the hell they can process a loan within 3-4 days. But then I said to myself, mainnu kee, and was happy and rejoicing. I called up the dealer and enquired if the black color was in stock or not? My friends started to plan a party and I was dreaming…

…and then one day…

Your loan has been rejected because:

• Credit score is not sufficient
• You don’t own a property

What the f###???

I banged at Assistant Manager’s door and here are her explainations:

•  You are a software professional

That’s it. All other things were linked to me being a software professional. My job is not stable, blame it on recession. Attrition ratio is higher in IT industry. I even don’t own a property coz I am not stable at one place, I was in Chandigarh, then Chennai, then N0Id34 and GAWD knows where I will be after one month. Dil ke armaan ansuo me beh gaye. Ham wafa kar ke bhi tanha reh gaye. The only good thing she found in my file was a good salary and that was not sufficient for me to repay a loan.

Unfortunately, there are no clear guidelines from RBI in this regard. I did a lot of Googling and didn’t find proper answer. By end of the day, I heard this, “Rehne do aap, aap se kuch nahi ho sakta”