a) ECS maintenance is a problem, I had run pillar to post but to no avail and was told to get the utility code maintained. In no financial company have I heard customer doing all of it and nobody helping the customer when he wants to pay his EMI and to ensure that his track doesn’t get impacted. I have been charged due to ECS not getting presented.
b) critical approval (Fix-o-floating)maintenance is a problem ,and customer is asked to furnish it. I am not maintained on 8.9% since the booking of the loan. I have the approval mail from the Area Manager
c) full EMI for 50 lakhs starts with the disbursement of 12.19 lakhs although the customer had clearly instructed for a pre-EMI,
d) customer is not told before the loan disbursement that pre EMI is ONLY for a year and that it does not have a system like HDFC where principal is also being repaid along with interest during pre-EMI,
e) disbursement is a problem and needs to be followed up, false promises are given on time line of disbursement/sanction.
f) fee is being wrongly quoted by sales executives(gross misselling is happening on this front- I was told much lesser fee initially and later at the time of sanction was told something else by the same executive who got my loan disbursed- when I took this up with him and the Area Manager, the sales executive told me he would give me back the required money from his commission which he has NOT DONE YET- clear case of cheating ).
g) Customers are being told that life insurance policy is mandatory for loan disbursement. The first sales executive Mr. Subhash Chaudhary had told me this and withheld my critical property papers for a very long time when I said that I do not want to go for a loan if buying life insurance was mandatory.