Worst experience with IDBI. Being a NRI I’m going thru hell to either to contact them thru email or thru phone calls. they never respond and never picks up their phones. They have been collecting only interest payments for the past one year and they don’t have answers why they don’t want to start EMI payments. Above that the stupid people are so corrupted and wants money to release the loan amount. What kind of bank is this.NRI be ware when you go thru IDBI. If you go thru them you will be spending more money on making international calls trying to talk to them. They are so lazy and they talk something while applying for loan and ones you applied they make you to go thru hell to get the loan amount released. After the amount is released then you have to go thru this again to make your monthly payments. They never start EMI payments. they only collect interest. Not sure how long are they going to do this. Having said all that about the bank a little history about my experience. I’ve appiled for a loan with IDBI bank Hyderbad branch last year. I submitted all my paper work and got NRI home loan pre approved for 100% and then I went in search of properties. Even before making the deal I made sure the bank officals or their concerned officals look at the property and the papers, and went thru the deal ones I got the verification from the bank . As said by many other reviews regarding their 100% loan they came up at the last moment and said they can only release 80% and to even released the amount I was asked to pay a bribe of 1 lakh to get amount released. I paid the bribe got the some amount released and the remaining amount that they were supposed to release based on the progress of construction I have to go thru hell. I was really annoyed about their attitude and finally I’ve asked the bank officals to make that 90% what they released so far from the loan amount as the total loan and told them to start my EMI payments. This is been happening for almost 6 months so far they haven’t started my EMI payments and I have been paying only intereset payments for the past one year.
Being a NRI and living outside the country I’m going thru hell with this bank, they never respond to emails nor they pick up the phones. If they pickup they say the concerned person is not there. I even went and posted a complaint on their website no response from them.
So guy’s/gal’s beware before you go with this bank (IDBI) for any house loans...