If you ask me which is the worst bank in India in terms of providing services to customer, I would immediately respond it’s IDBI Bank. This bank neither respond to customer nor pay any attention to customer problems. They pretend to be very nice in the beginning to sell their services but once sold it is very difficult to catch hold the bank staff for their support in case customer faces any problems or request any services.

While whole country is trying to become digital as much as possible, this bank is still keen on following long and lengthy manual process with all the control kept in their hand so that they can make customer dancing around their services. I am still wondering how they are even getting any customers with the kind of services they are providing.

IDBI Bank: One of the worst bank in terms of providing services to customer

Also Read: Worst Onboarding of Citi India user in Axis Bank [My Personal Experience]

I am pretty sure many of you might be encountering the same problem but let me explain the problem I am facing with this bank so that it will help lot of other people as well who are planning to use IDBI banking services. Few days back, I took composite loan from IDBI Bank where it has been told that entire process will be nice and smooth and all the concerns will be swiftly resolved. But in reality after taking the loan, I was shocked to see so many charges i had to pay which i  have also explained in detail in article Why You Should Never Take Composite Loan from IDBI Bank.

The hardship does not stop here. If you would like to reduce your principal amount, then ideally we can make part payment few times in a year to reduce it but the process to pay part payment is itself not clear due to lack of responsibility and accountability. As per the bank process, we have given an email id to contact for any queries or requests or the other option is that you have to travel everytime to the loan branch location to make any request.

Now it sounds very cool that for any request either we can send an email to the given email id or contact the bank directly but in reality neither of them would be reachable for any help. Probably you have to try 100 times then may be if you are lucky, one time you might get some response. But never think about getting any response quickly as it is almost a sin to keep that expectation with this bank.

I have been trying to reach out over the email id as well as over the phone to the bank staff from past few days but so far no response received. I did managed to call my past few contacts from bank who helped initially in processing the composite loan but after that whenever i call him, he always redirect me to contact the given email id or the bank itself. I understood from his response that once their job is done they are neither responsible nor interested in solving customer issues.

This is especially a problem if you have taken loan from bank and now you can’t pay back some principal amount directly to reduce your total loan amount because it is not allowed. You always have to contact the given email id to deduct the part payment for the composite loan taken. This clearly tells how this bank is more interested in coughing out more money from customer in the form of pre interest (which basically is a type of interest without reducing the principal amount) every month rather than solving customer problems.

There is no mechanism given where customer is allowed to pay the principal amount by themselves like what we have in SBI. The whole process in controlled by the bank as per their convenience. Customer just have to keep paying the money as and when asked. There are lot of people who does not have time to follow up with bank for everything everyday so it has almost becomes a nightmare for me to keep requesting bank to deduct part payment for my loan account. Till now, there is no response.

I wonder if RBI is looking into all this and does auditing regularly to understand the pain a customer has to go through with this kind of bank. After too much of frustration, I have finally decided to transfer my loan from IDBI to SBI Bank and vowed to never look back at this bank irrespective of the conditions and requirements.

I would rather suggest you all to go to SBI Bank for taking any kind of loan. Their service is far better and much improved with respect to IDBI Bank. You won’t face all these challenges there as customer is totally free to pay back the principal amount by themselves as and when they want. Hopefully this helped you understand the ground reality of this bank and you are now in better position to take any decision.