I’ve taken a Home loan from IDBI Bangalore branch and the service is one of the worse available in banking sector. They will be very nice with you till you enter a relationship with the bank and once u are in their hands, they will take you for a ride of worse service.
(once u take a Home Loan, especially for construction, the dispersal of amounts will be according to the progress and u are latterly trapped with IDBI procedure since all ur property document will be with the bank and u cannot go to any other bank at the moment, at list till completing it)
Once IDBI got ur document, means your loan is confirms (more specifically u are in there hands), they will latterly ask you to BUG In front of them to complete the procedure till final dispersal. Every dispersal of my above loan was a nightmare and they will come out with lot of nonsense to waste your time and the customers should not commit any payment date to there vendors based on Bank’s committed date. (As they can change there words in split seconds with no shame).
Most of the nonsense terms & conditions will be forcefully enforced on you which won’t even understandable for a person with common sense. Here are some examples:
1.My whole property documents are with this bank from the day one of the property registration (as like any other Home loan ) and Bank is asking for document copies from me, even for an enhancement of 5 Lakh on top of existing 20 Lakh.
They will have more procedure than a fresh loan for any enhancement of existing loan and behaves the customers as like criminals at police station.
2.It took 2 months(52 days exactly) for the bank to give me an enhancement approval of 5 Lakh (on the existing loan of 20 Lakh) with no explanation of delay.
3.All the part dispersal (of loan amount for construction)are literally a fight venue as it will never come on time .. they will take there on sweet time to release the amount and IDBI will consider no value for a customer’s time and effort to follow-up.
4.I’ve also taken an insurance coverage for this same loan through IDBI itself as it was organized by IDBI officials and no news about the policy for the same even after 9 month, but charged me a processing fees of Rs.3, 000/- and premium of amount RS.31, 000/- (These was agreed to reverse after a lot of effort of direct interaction with bank officials )
I would say this is the worse service in the industry as IDBI (especially Bangalore office) has got a team of people who work typically like a Govt: officials and No value for time and customer respect is something they never heard in their whole life.