A sense of lethargy, taking their position for granted is clearly seen on all staff’s faces, whichever branch you go to. If they were to compete in open market with private banks, they would have got wiped out with such laidback staff.
No doubt they are a leading bank when it comes to home loans with very competitive rates. They afford it owing to their size. Their sales staff in home loans is somewhat alright as compared to rest of the staff.
They force you to open a savings a/c if you want loan, although there is no such rule in the banking industry. But read on to know what they would do with your account to siphon out money silently.
Secondly, when providing EMI mandate they refused to accept any other bank’s mandate and said we must pay the EMI through their account only. Another compulsion that is illegal. Even HDFC Bank made me do that though many other banks don’t force this.
Here is the icing on the cake: Without any consent of mine, they started deducting insurance premium from my savings account. Asking them over phone drew this response "This is mandatory, we are deducting on every borrower’s account". Worse, on visiting the branch asked to sign a paper saying, just sign here as your consent for deduction of these insurance charges.