I had availed a auto loan from Axis bank in 2007. I choose Axis bank as they said there is not processing fees. They were very co-operative during processing of the loan. After the loan got sanctioned, I did not receive the welcome letter or any communication from them. After much follow up they sent me the loan statement after one year. I wanted the interest paid statement for my tax purpose, I have to go several times to their branch to collect it. When I call the customer care they take a request for these letters but the letters are not sent at all. Now I have preclosed the loan, they said they will give me the NOC letter in one weeks time. I haven’t received the NOC letter even after one month. They do not respond to my calls, their customer service people are arrogant and rude.
I had another car loan from a nationalised bank. There were some hassles for getting the loan sanctioned as they were asking for too many documents. Once the loan was approved we had no problem with them. we could get any kind of letter from them easily. After closing the loan they gave the NOC within 3 working days. It was a amazing service.
My suggestion to people is do not go with the private banks, they cheat people, they change their attitude as soon as you become the customer and their managers are useless.