I would like to highlight the following points to entrepreneurs or MSE who are planning to take any facility from this Bank.
1) They will promise you the heaven and earth, give you the lowest rate so that you fall for their bait thereafter in the subsequent years they will fleece you and make you feel sorry for what you did.
2) They have all kinds of hidden charges, they do not bother to inform you before they deduct these charges from your account.
3) Also, when they takeover your account from another Bank they will not include any clauses that will raise an alarm, lateron when they do the annual renewal of the sanctions they will slip-in charges such as Pre-payment penalties on facilities such as Cash Credit limit which is unheard of and that to at a rate as high as 2.5% of your CC limits. Now, imagine you moved from another bank to this bank, you paid all kinds of money to get your property evaluated by their valuers, processing charges, stamping charges and the whole nine yards. Now after couple of years they force you to accept the pre-payment penalty after that they will start increasing the interest rates such that you are left with no choice but to move to another Bank.
Now, you won’t be in a position to do so because of the exorbitant unjustified and unreasonable pre-payment penalty they will charge if you move. This is what I feel is a Blackmail in plain simple language. They are Pathans and not Bankers!!
4) Their LCs are not discounted by any of the Banks
5) Their Buyers Credit facility related charges are the worst in the Industry.
So, beware of this Bank. You would be better off with any Nationalize Bank or a ethical private Bank.