Though this bank is the largest private sector bank in India, I would say this has the worst service than the Public Sector Banks. I closed all my accounts at this bank recently. I took Home Loan from this bank and still repaying the EMI.
This bank is the first to increase the interest rates as and when RBI announces the interest rate hike but will NEVER decrease the rates when the RBI decreases the rates. There is no point is taking loan with floating rate interest. Here we can understand that the only motto is to loot customer.
The bank attracts its customers with some features like
a. Less documentation
b. Less Rate of Interest(only to new customers)
c. Quick Disbursement of Loan
I was attracted by the above points. When submitting the application form, I had enquired whether there will be a decrease in Interest Rate when RBI announces and they said’YES’ and it never happened. Even I had called customer care and they say they are unaware’why the bank does not decrease the interest rate’.
Those reading this review be aware and think twice before approaching for Home Loan or any kind of Loan from this bank.