I have burnt my fingers with 3 well known Private Banks - Kotak Mahindra, HDFC and ICICI. People say that Nationalized Banks’ staff are slow and poor in response and what not. These all negative talks about The Great Nationalised Banks is by all these Private Banks’s marketing team.
Private Banks’ all so called MBA(Muje Bahot Aata Hai) staff works fast with sugar coated words when they need money from your account to their target account, but when time comes to get you service and your own money then you face sleepless nights. Hidden charges, end less errors of back offices and Net Banking issues and what not!.
When I opened my account with HDFC, Abu Dhabi their staff checked form as if checking a board exam’s answer sheet. Even for a very small mark of pen ink leak he took signature of correction and what all drama he did not shown to us. Finally when account was opened it was total mess. Endless mistakes and wrong data than those filled in the form. When we brought it to their notice they said please come to Bank and submit forms for correction. Don’t you feel OMG! Don’t worry I shown them power of Customer and made them correcting their own mistakes without a single action by me. Since than I hardly operate HDFC accounts. Still HDFC is much better than Kotak Mahindra Bank and ICICI.
My worst ever experience with ICICI blessed me with a wonderful, Excellent Housing Loan Experience from SBI. Nothing more to say.
On My experience with Kotak Mahindra Bank, I am planning to submit nomination for Guinness Book of World Record. Since after my account opened in 2009 NONE OF THE OPERATIONS BY Kotak M Bank went easy and error free. Every time for everything their back office, RMs make endless mistakes and takes their own time for correction. Even today my Net Banking is not working good. Once when I logged in to my Net Banking it shown me lacs of rupees of Liability and Acount Balance in few thousands where as I had much more money in my account. I was shocked. So I gone in to depth and found that for my CRN due to their IT glitch it was linked to some one else. I immediately took screen shots of various pages and sent to Sh. Uday Kotak. TILL DATE HE IS SILENT WITH NO REPLY!
Me and my sons don’t buy that many new cloths in a year than number of New Relationship Managers from Kotak M Bank are changed for me since 2009. Once I sent a list of my RMs to thier VP-NRE Business and he did nto replied back to me. Unfortunately I have few investments linked to Kotak Bank’s account and hence forcefully I have continued this account. Wish I can close this account ASAP.
I am customer of SBI since my job at Anu Shakti Nagar, Mumbai in 1991 and then transferred to SBI, Andheri East Branch. SBI services and staff are THE BEST among all other Private Banks.
A small level of dis-satisfaction should not make a negative opinion for such Banks. I pray God that SBI kind of Banks shall only operate in India and Govt shall close troublesome Private Banks who fools Indians and make money for others. Private Banks never ever found working for Public.
My operations with Bank of Baroda is also really wonderful and excellent.
Though very short and less, same is the case of sweet experience with Bank of India.
Private Banks’ policy of fluent English speaking marketing reps fools our Indian Citizens. Be safe from such Banking reps. Protect your hard earned money.
Good Luck.