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raj dhule (it manager)     28 July 2011

Refusal to issue me NOC to take home loan from other Bank.

Hi All,

    Plz. guide me as our bank's General Manager refuse to issue me NOC to take home loan from Nationalized Bank.

  I am working for a co-op. scheduled bank since last 21 years. I have very clean service record. I have taken a staff loan for my Vasai (Dist. Thane , Maharashtra) flat from my bank in my single name and as on today the loan a/c is regular. Now I have purchase one more flat in Borivali (Mumbai) in my and my spouse name. I went to State Bank for loan they are ready to sanctioned me the loan considering my and my wife's salary jointly.        I have told them about my existing loan. They are ready to sanctioned me the loan, but as per all bank's practice SBI  asked me for NOC from my bank where am working.

     When I request  to my bank for a NOC to take home loan from SBI our General Manager told me that you are enjoying a staff home loan facility then you can not take any other home loan to purchase a flat. If you want NOC from us then you need to close the existing staff loan.

     Then I told this to SBI officials, they replied me that there are so many other bankers who have taken loan from their bank and from SBI also for another flat. Their bank has given NOC to them.

So I request you all plz. Guide me how to find solution to this?

Can I challenge our General Manager for this?

Piz. guide me as early as possible.




 5 Replies

pervez (adviser)     30 July 2011

See yr internal guidelines... generally, there is no bar on acquiring more than two properties, howvere IT exemption is availbale on only two self acquired property... You have not stated clear grounds for refusal of NOC.. it can not be on whims and fancy of top boss.. there has to be clear guidelines to this effect.. which I feel would be there.... request in writing and ask for quick reply... u can also write to top management regarding this.... but u have to keep one thing in mind yr assets should communsurate with yr / yrs wife's earning...


raj dhule (it manager)     30 July 2011


Dear Sir,

           I have already asked for NOC to our GM in writing. He told me your staff loan is on confessional rate  of interest offered to staff by bank and even your second loan is base on your and yours wife income there is a banking law which doesn't allow any one taking loan with confessional rate will take a out side loan for flat purchase. I got this remark on my NOC request letter addressee to him.

        Plz. guide.


Thanks and Regards,



advbharathase@yahoo.co.in (advbharathase@yahoo.co.in)     31 July 2011

Mr. Raj u can again ask your bank to disburse forsecond home loan including income of your wife.and/or sbi, and to show your repaying capacity. 

raj dhule (it manager)     01 August 2011

Dear Sir,


Our bank has maximum limit for staff loan. i.e. 15,00,000/- and i have already enjoying this limit.

Our GM's remark on my request to NOC is that i can not take another housing loan for my new flat  as I am enjoying a staff housing loan for my old flat. Irrespective of any other things like my and my wife's annual income etc.




RAJU O.F., (Advocate)     01 August 2011

My best advise would be to wait till your present staff loan could be closed, for availing of another housing loan from your own employer or from outside.  Quarreling with your General Manager may cost your present job, or atleast blackmark on your service record.  Each organisation would have its own norms.  Having availed one housing loan and during its subsistence, employers do not encourage another housing loan from different bank.

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