I’m an existing home loan customer of IDBI Bank from Thane branch.
Things were good till the expiry of fixed rate.
Shock came at the applicable floating rate, IDBI charges 11.25%.
SBI however is charging 10.5% on the balance outstanding even to its existing customers, by paying an additional fee of 1%.
If you transfer the IDBI home loan, you would be asked for penalty of 2-3%. Plus on transfer other bank would charge 10000+ ST to transfer your loan.
In effect you are STUCK big time.
Also would like to highlight their pathetic customer service either at Thane branch, Online or Toll free.
Its been two weeks since I’ve been following up to correct my outstanding balance amount, which till date is not yet resolved.
Suddenly the EMIs are not been credited automatically from my savings account.