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Idbi Bank / Home Loan / Multiple EMIs deposited in the same month!

1 India Review updated:

I have taken a home Loan from IDBI Bank and have had a horrible customer experience right through my association since January 2006.

In the last incident the Bank deposited two posted EMI cheques in the same month i.e. in the month of March 2007 instead of one and as a result the second cheque bounced due to insufficient amount due to no fault of mine. I as a result have incurred a penal charge and moreover my financial rating with my Savings Bank is marred.

On complaints to the collection agencies I have not had any response nor any redressal.


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  • Na
      29th of May, 2009
    0 Votes

    Dear Sirs,

    Ref : Home Loan Account No : 194675100000824 – Sanction Letter
    No:HL/LE/1681 - DT: 19th Feb ‘09
    Sub : Clarification Required – Regarding

    This has reference to the above cited that, you have sanctioned an amount of Rs.20, 00, 000/- (Rupees Twenty Lacks only) for us to construct a house at Kattupakkam, Chennai. From the day first you (IDBI) have not disclosed any thing clearly about the loan and disbursement of sanctioned amount to us. Being a Nationalised Bank, IDBI fails to give required information to the customer like us for sanctioned of huge amount i.e. two million. The reason behind us to approach IDBI, because IDBI is Nationalised Bank none other reason. But we are having a feeling that we are dealing with private and proprietorship firm. In my personal experience with IDBI, the bank is not interested to satisfy the customer needs on time.

    As per the sanction letter, we no need to pay the Commitment Charges, Processing fee and Administration fee. But before issuing the sanction letter to us, you have collected Rs.12, 000/- as administration and processing charges from us. The other confusion is Homesurance. Your representatives have not clearly disclosed the terms and conditions of the insurance instead they forced us to opt the same because the Homesurance (life insurance) is mandatory.

    When we contacted IDBI customer care to know about the same, they replied that the Homesurance is not mandatory also they suggest us to give a letter for cancel the policy after returning the original policy to IDBI. At last we have decided to continue the same. Still the premium amount levied not clear. As per the Insurance premium receipt an amount of (Rs.30, 842/- and 23, 090/-) Rs.53, 934/- should be debited from the sanctioned loan amount as one time premium. But there is a surprise that, the bank deducted Rs.55, 215/- from our sanctioned loan amount without our knowledge. This makes us to very big confusion because the IDBI levied invisible charges like private financiers, though the IDBI is a Nationalised Bank.

    Presently the bank requesting us to pay the interest difference amount Rs.531/- for pre EMI interest for the month of April ’09 even we have given blank post dated cheque to IDBI.

    In this regards, we have contacted IDBI customer care many time that has not yielded any result but in vain. Hence we request you to submit the clarification about the sanctioned amount, Insurance Premium and Subsequent disbursement details with immediate effect for us to make clear about our Loan Sanctioned and Disbursement.

    Loan Sanctioned Letter Issued By :
    Mr. Manoj Kumar (EIN 633720) :
    Asst. Manager – Credit :
    IDBI Ltd :
    Commercial Banking SBU :
    Murugesa Naicker Complex – 3rd Floor :
    68 Greams Road :
    Chennai – 600 006 :

    M. Shanthi
    P.N. Nachiappan

    "Success Will Not Come To Us, We Have To Go To It"

  • Hi
      22nd of Sep, 2009
    0 Votes

    Complaint is genuine and should be addressed properly by the bank.

  • Av
      16th of Nov, 2010
    0 Votes

    My name is Avinash Padmakar Repal & My Home loan account no is 250/250675100000709.I am requesting to you to send amorpization on my e-mail id

  • Av
      16th of Nov, 2010
    0 Votes

    I am Avinash Padmakar Repal, My Home loan account no 250/2506751000000709, Please send amorpization on my email id

  • An
      9th of Dec, 2010
    0 Votes

    I'm totally agreed that IDBI bank is not serious about the customer. Even I send so many emails to show the Floating interest rate on customer account website page but I'. quite surpise why such imortant information is not showing by IDBI bank.

  • Vi
      22nd of Mar, 2011
    0 Votes

    I'm totally agreed that IDBI bank is not serious about the customer

  • Ks
      6th of May, 2011
    0 Votes

    I completely agree with this IDBI Bank is not taking care of their customer's need and forced all their services and charges unlike it is necessary or not to customer

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