I am no loan adviser, neither claim that I know everything about banks, interest calculations etc , but one thing I know for sure is that Private banks such as HSBC,Standard Charted,HDFC (except for home loans), Citibank and others, they all have only one thing in common. Promise to give quick loans to people and make most out of it.

People tend to believe the banks and go blindly with whatever they say. So they overlook so many things while going in for a loan or indulging in some transaction with the private banks.

The private banks say that they will process the loan request fast and promise to get your loans sanctioned within a day or tow. I’ll tell you that this a myth. In reality, the actual process of verification and sanction of the loans take somewhere between 7 days to 15 days, except in the case of pre-approved loans.

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