I have been a customer of IDBI for the last 13 years by way of Home loan and I have noticed that when RBI announces PLR rate hike, IDBI Home loan interest rates go up automatically and when the PLR rates come down IDBI kept my interest rate higher. Currently they were charging me 11.25% when all banks had automatically reduced to 9.75 or 9.5%.
Last few years I have not been even getting any communication from their end. Since 2009 they have been fooling me and extracting higher interest rates. When contacted they said I have to pay some money and request in a form to reduce the rate(can you imagine?). Most unethical way of making money from gullible people. Just like any other Govt. department, they believe in extracting money from poor people and fool them at every instance.
Stay away from this bank!