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Axis Bank Home Loan — Horrible experience with axis bank's home loan...

Dear Sirs,

This is Deepak from Bangalore . I restricted myself for a long time from writing this mail to you. But, when I didn't see any response and accountability from Axis Bank, I could no longer wait.

This all started sometime in March this year. I booked a flat in an apartment in Bangalore and was given the contact of Mr. Amit Sharma ([protected]) from Analytical Investments (for AXIS BANK) by the builder. Mr. Amit met me and I explained him my salary, expenses and other expense details, based on which, he confirmed me that I have the eligibility of 23 lacs. Since this amount was sufficient for me to go ahead, I proceeded with an understanding that eligibility is already assessed. Amit told me that one of his colleague will come to take the documents and cheque for processing fee for this home loan. Then, I was approached by Mr. Murugesh ([protected]), who came and collected my documents as well as the cheque of Rs. 5618 for the processing fee. I didn’t hesitate in giving the cheque since Mr. Amit had already confirmed me about my eligibility. Mr. Murugesh took all these and went back. The verification process started and I waited for long time thinking that everything is going on well. Within a couple of days, I saw that my bank account was debited with the cheque that I provided to AXIS Bank for Rs. 5618. This gave me more confidence that everything is going on well.

Suddenly, one day I got a letter at my home address stating that AXIS Bank can’t provide the loan to me. This was a shock. There was no reason mentioned in the letter. I called AXIS Bank’s office and talked to Ms. Renu ([protected], landline –[protected]. She said that the letter was sent by mistake and they are still working on the loan process. Later, she called me up and to my surprise; she said that my eligibility is not there for the loan. I was taken aback. This comment came from AXIS Bank even though Mr. Amit had already told me that I had eligibility of 23 lacs, after the address and other verification process were done, after the processing fee amount was taken from my account and after waiting for such a long time. I argued with Renu about how could then Mr. Amit tell that I had the eligibility. If I didn’t have the eligibility, I am not a fool to proceed with the loan process and waste my Rs. 5618. She again told me that she will work with her manager and come back to me. She called again a couple of days but, all of them to say that nothing could be done and my eligibility is not there and the loan can’t be sanctioned. I got annoyed and asked her to return back my processing fee amount. She said the policy is not there to return the amount. I understood from HDFC and ICICI Bank that if they don’t sanction the loan, all the documents along with the amount is returned back to the customer. But here, neither did I get back my documents till date, neither the amount.

When I saw nothing is yielding results, I asked Renu to give her manager’s number. She gave the number (sorry, I don't remember his name) and when I called, he was driving and said that he would call me back. I waited for a couple of days for his call. One fine day, one Ms. Indu (I think this was the name) called me and said that her manager wanted to know why I had called him a few days back. I explained her whole story but, she heard and told me the same thing – the processing fee can’t be returned. When I requested her again, she said that she will talk to her manager and call me back. This never happened. To follow up, when I called and talk to her, she said her manager is out of station and she doesn’t know when he will be back. Today, after more than a week, I am still waiting for the manager’s call.

Sir, as you see, this is a horrible experience. I was told that a panel has evaluated AXIS Bank as the best bank. I don’t know how. At least, I would never say that. You can see that they have given false information on the eligibility, collected the documents, taken the processing fee and then reverted back saying that eligibility is an issue. Till date, they have not returned the documents or the amount. Eligibility is the first thing that a customer takes care before giving any processing fee. But, AXIS Bank has cheated in this respect and has made some money out of this. I am not sure how many people would have experienced this with AXIS Bank. This looks like a good business for them. I don't think they have any business Ethics. How can they give false information to the customers and make money?

Sir, I would hence request you to please look into this matter urgently and help safeguard the customers’ rights. You help will definitely ensure that AXIS Bank doesn't repeat such cases down the line with any other customer.

Thanks much for your valuable time!!!

Regards,

Deepak Kumar Singh.
Complaint comments  96 Comments     Updated: Share0Tweet0

Comments

Yes, This is 100% right statement on Axis Bank. I am suffering the same thing with axis bank at pune branch. I request to all people dont go with axis bank home loan proposals. They dont have any link with each others, always give false commitment. I really fed up this things.

Concern Person
Ajit Lokhande (Regional Manager Pune Pride house location)
Yogesh Mutha (Home Loan Sales Manager)

UTI Bank — Worst banking!

Axis Bank,
Main Branch
Begumpet
Hyderabad.

Dear Sir,

I have issued checkes for payments, some of that is cleared and 2 checkes are bounced due to late submitting by the bearer and no balance on the exact day of clearing.

THE BANK IS CHARGES TO ME RS.394 + 394 = 788 FOR 2 NO.S OF CHEQUE BOUNCING. I COMPLETE DIS-AGREE WITH THIS RULE OF BANK.

I HAVE ACCOUNT IN STATE BANK OF INDIA SINCE 5 YEARS, THEN NEVER CHARGED TO ME THIS MUCH OF FINE.

I LIKE TO INFORM THE AXIS BANK NOT TO DEDUCT THE MONEY FROM MY ACCOUNT AND REQUEST TO CHARGE THE MINIMUM AMOUNT.

ALSO INFORM YOU THAT IF IT IS STRICT RULE OF CHECQUE BOUNCING PENALITY, KINDLY CLOSE MY BANK ACCOUNT IMMEDIATELY.

( DUE TO 3 DAYS DIWAL FESTIVAL HOLIDAY'S AND WORK BUSY CASH DEPOSITING IS NOT DONE, AND I AM COMPLETELY NOT SATISFIED WITH THIS BECUASE THE AMOUNT VALUE IS VERY PRECIOUS)

KINDLY TAKE NECESSARY ACTIONA.

THANKING YOU,

REGARDS

P.HANUMANTHU
A/C NO. [protected]
8-2-596/F/44/A,
2ND FLOOR,
ROAD NO.10,
BANJARA HILLS,
HYDERABAD-500034 (INDIA)

Axis Bank — very worst bank

Irresponsible in axis customer care people. When were I try to call they always busy busy busy . I tried many times in a week but still not yet I talk with there people. Very very worst bank.

AXIS BANK HOUSING LOAN — Customer treatment

My housing loan account number is [protected]. From last one week, I am continuously receiving phone from your Bombay branch regarding my outstanding balance. Initially they told me that one of my installment is pending. So when I checked my bank statement, all checked submitted by UTI are found cleared. Then in next call they told me that some interest money is outstanding, where as till today nobody sent any letter to me. I have not even received any email or phone.
Now I want to know how you treat you customer? From last one year I had paid all my EMI in time. Then what is this interest amount & why I should pay after one year, where as no such letter or verbal intimation from you is done with me. If loan intereset is increased then why this is not intimated to me. How I should know what EMI I should pay after change in rate of interest until you should inform me.
I request you people to give me details immediately. Yesterday even your person came to my house for collecting outstanding. This is horrible. Please treat this mail urgently & give response to me
Regards,
Shirish Kulkarni
I did n't get Credit card statement regularly.I tried to call lot of time to customer service... always they are busy.busy busy...no other bank will treat customer in this way... how can i pay for my credit card bill?

Axis Bank Home Loan — LOAN AGREEMENT NOT PROVIDED

Hi,
I and my wife went for a joint loan with UTI BANK ( now AXIS BANK)
We have been querring for our Loan Agreement but Bank is not responding.

Please advise, Where should we go for redressal.

Rohit

personal loan documents — still not get any feedback after submitting documents last 20 days back

i am BAHSKR REDDY, H R EXECUTIVE, AT ROYAL ORCHID CENTRAL, A UNIT OF ICON HOSPITALITY PVT LTD, #47/1, dickenson road, manipal centre.am submitting my documennts on 19.06.08 for persnal loan with your executive D RAJ his mobile no [protected]. he came to my office at Manipal centre, dickenson road, bangalore 42 and collectted my documents i, e. two passport size photos, 6 months bank statement, 5 blank chques in favour of icici personal loans, pancard photocopy, identity card photocopy, ration card, appiontment letter, increment letter photocopy, service certificates, address proof certificate from company.
befrore we submit documents every day 10 to 20times we get cals but after submitting documents no cal or intimation.i want know my loan status. plse do needfull
sir
i want to fixed deposit amount on your Naraina Branch but they are saying first of all you ve to open account and maintain 5000Rs quertly.i said no problem but zero balance a/c can also open but they are not agree!i m software developer in delhi .can u help me in this regard?
I very much agree with this. and not to mention Axis Bank is the worst bank of all time. I think you should take this up with the consumer court and get your money back. This is not a fair deal from the bank, or else ask them to give a clear written explanation of why your loan was not processed and the processing fee taken..
I am too a very unhappy customer with Axis bank, only because my company has a corporate account with them. And we employees are forced to use their server, of which almost 80% of the time their ATMs dont work...

Axis Bank — Money deduction without Loan taken

To summarize for you, I had applied for personal loan of 3.5 Lakh from Axis bank in month of March 08 but due to some situation, my needs got changed and I didn't accept any cheque later on. I had informed bank SPOC at time but this info didn't convey further to Bank. In the applying of loan, I had applied for ECS from ICICI bank which is being struck continuously from last 3 months of 8050/- per month.

ICICI informed me that I need to inform Axis bank and only they can revert ECS and can return money back which has been deducted from my account. I am continously following up Axis Bank from last 2 months and even reached to COO but of no avail. I am hoping to get any resolution of this by writing here.

Regards,
Vishal Bansal

Axis Bank — Wrong Refund Procedures

We wanted to open a current account in Axis Bank and issued a cheque of Rs5000/-.
Axis Bank Kormangala branch initially said yes to all our questions and got the money transferred to their bank. Now they have come up with the idea of not opening an account for us and have issued a cheque which has no account itself. We are wondering how we are going to get our money back. They refuse to give us a check in any other name and have denied to transfer it back to the account they withdrew it from.
Its about a month and we have visited Axis bank several times and the gentle man there was polite enough to say we cant help you and you don’t teach us how banking is done.

When AXIS BANK cannot open a current account they why did they take money from our account in the first place, they should have checked and got the paper work ready and only then got the amount transferred.

To add to the fire:
They also were asking us to make investments in their plans and schemes.

We not have only lost hope in AXIS services but have come to realize how they operate and trick the new walk in customers to invest in their bank.

We hope some action is taken about this and we have our money awarded back to us.

Lima Sekhose
[protected]@gmail.com

CONSUMER LOAN — not received original papers

sir, my contact no is 91=[protected]
i have recently completed the loan for consumer products. i have purchased videocone television from desai sales agencies anand dist anand gujarat with finance from your finance company. i have completed the loan but when i approach to get my documents ie. xerox of the id proof resident proof officer at anand branch answer me that company did not return such documents as per company policy. hereby i would like to know who will mbe responsible for the miss use of such papers. and when will i get it back.

ICICI Bank Home Loan — Not Giving the Home Loan Original Documents

I have taken the home loan from ICICI approx 2.5 Years Bank and now i have repaid all the amount almost one month back and since then waiting for the Original Documents of my house, Finally after 3 weeks ICICI came up with the photocopy of all the original papers and was trying to handover it to me saying that this is the only papers bank is having for your property.

I denied from accepting the papers and still i have no news from the ICICI Bank about the original documents.

Please be aware with the ICICI Bank,
I see so many complaints regarding issues with ICICIbank . If all these affected parties can coordinate with one law firm and channelise all actions through them, is easy to take legal SOLUTION for all of issues rather than undergo agony individually.

If any of the law firms or law students who are looking for good visibility or show their skills out there if they are interested i can set up a group to coordinate them through a common website .

Message to the law firms new lawyerslaw students

This is a excellent oppourtinity to show your skills. This issue is spread across India .I[censored] are able to solve this issue then you will get visibility all around india. Think about it !!
Dear Sir,

I am having a custome of AXIS BANK LTD, for home loan taking since last 8 month, Please let us know about How can I trace my home loan account in internet and rate of interest fluctuation status.

Thnaking you,

PRAVIN PRAJAPATI

ICICI, ICICI Home finance — Giving processing fees back to me as then never given home loan.

Dear Sir,

I had SANCTIONED the loan from ICICI in month May 2008 by paying Rs 4214 on date 08/04/2008 having cheque number 799963 as processing fees but then was never able to disburse it as we unable to produce completion letter for a property and also we didn't find any other suitable property (House).

Details are -

Letter for loan vide app. no[protected]
(Franchisee Code - I - Channel Kalyan (Josh) HL)

Relationship officer Neeta Verma - [protected]

ICICI Home finance, 1 E, Ramkrishnar Nagar Society, Murbad Road, Nr. Hero Honda Showroom, Kalyan West, Maharashtra - 421301

As they never given any home loan then processing fees should be get back to me.

They are not giving processing fees of Rs. 4214 back.

Regards
Sandip Patil

homeloan — pre-payment but not receiving the documents

Deaar Sir.
Namaste!
My homeloan A/c. No. is LBNDD[protected], I paid Rs. 187, 626/67 on 9/1/2009. according to your Ahmedabad branch I paid it with my January instalment. I am vaiting for my documents which I submit to you at the time of applying the same loan. so pl. check my documents are relised or not, if delivered still I not get it. So pl. inqire properly and answer me.
Awaiting for your early response. Thanking you,
Afiyaben I Chirsitain

Axis Bank — cutting of rupees 67/-three times

i am having a/c [protected] in axix bank Ihave converted it in joint a/c but bank have cut 67/- three times wuthout any reason.
TAKE HOME LOAN FROM AXIS BANK AND " GHUM TE REH JAO GE ON THE AXIS "

WE HAVE UNFORTUNATELY TAKEN A HOME LOAN FROM THE AXIS BANK WAY BACK IN SEP / OCT 2006. HOME LOAN ACCOUNT NO [protected]

WE HAVE A NUMBER OF OUTSTANDING ISSUES REGARDING MY HOME LOAN WHICH I HAVE ASKED THE BANK FOR REDRESS THROUGH PERSONAL REPRESENTATION IN THE OFFICE OF MR MANISH GUPTA, AXIS BANK [HOME LOAN DEPT], BHANDARKAR ROAD, PUNE IN DEC 2007 AND THROUGH REPEATED EMAILS TO - AXIS RAC <Customercare.[protected]@axisbank.com>; ANIL DIGHE <anil.[protected]@axisbank.com>; Manish.[protected]@axisbank.com; SINCE THE EARLY 2008. TILL DATE NO RESPONSE HAS BEEN FORTHCOMING !

THE ISSUES ARE ENUMERATED BELOW

NO RESPONSE FROM AXIS BANK, HOME LOAN DEPARTMENT, ON THE ISSUE OF : -

A> WRONG CALCULATION OF INTEREST ON HOME LOAN - THE CALCULATION SPREAD SHEET WAS GIVEN BY ME ON TWO OCCASIONS TO MR MANISH GUPTA - I PERSONALLY LOADED ON HIS COMPUTER ONCE.

B> WRONGLY ROUNDING OFF OF DECIMAL PLACES AND CLAIMING IT TO BE A RBI DIRECTIVE. THE COPY OF THE DIRECTIVES WAS REQUESTED - BUT TILL DATE THAT HAS NOT BEEN GIVEN.
AND THE SAME ISSUE WAS CHECKED WITH THE AXIS BANK [SAVINGS BANK ] - WHO AGREED WITH MY CASE.

C> NOT INFORMING AT ALL OF THE CHANGE OF RATE OF INTEREST - HENCE DEPRIVING ME [THE CUSTOMER] OF THE CHANCE TO CHANGE / REVISE MY [HIS] EMI AND HENCE MAINTAIN THE TENURE OF LOAN - HENCE CAUSING A LOSS

D> THE INTEREST IS CALCULATED ON THE NUMBER OF DAYS IN THE MONTH [INTEREST * NUMBER OF DAYS IN A MONTH / NUMBER OF DAYS IN A YEAR]. 2008 BEING A LEAP YEAR AXIS BANK HAS CALCULATED THE INTEREST FOR THE MONTH OF FEBRUARY FOR 29 DAYS, BUT……….. THE DENOMINATOR WHICH ALSO HAS TO CHANGE TO 366 INSTEAD OF 365 HAS NOT BEEN DONE – THIS SUITS THE BANK AS IT COLLECTS INTEREST FOR ONE EXTRA DAY – THIS PROCEDURE HAS BEEN CONFIRMED BY AN EMAIL SENT TO ME FROM AXIS BANK. THIS AMOUNTS TO ABOUT RS 480 ODD IN MY CASE! IMAGINE THE QUANTUM IF YOU CONSIDER ALL THE LOAN ACCOUNTS THE BANK HAS. THE AMOUNT OF GAIN IS COLOSSAL / HUGE - CONSIDERING THE NUMBER OF PEOPLE EFFECTED.

E> CLAIMING THAT THE CORRECT ADDRESS WAS NOT AVAILABLE WHEN THE SAME WAS GIVEN AT THE TIME OF APPLYING FOR THE LOAN AND SUBSEQUENTLY THE REVISED COMMUNICATION ADDRESS WAS PROVIDED ALONG WITH MOBILE NOS AND LANDLINE NOS.

F> CLAIM BY MR MANISH GUPTA THAT - THE BANK CANNOT AND WILL NOT RESOLVE THE ISSUE AND THAT I [THE CUSTOMER] CAN KEEP TRYING TO FIGHT IT OUT, THE BANK HAS THEIR LAWYERS TO DEFEND AND FIGHT FOR THEM

G> LASTLY - NOT CARRYING OUT DOWN WARD REVISION OF ROI AND MAINTAINING A HIGHER ROI, WHICH IS AGAINST WHAT WAS TOLD AND DISCUSSED WITH ME WHEN THE LOAN WAS SOLD TO ME, THAT THE MARKET RATE OF INTEREST WOULD BE MAINTAINED, BOTH WAYS. IT IS PERTINENT TO MENTION THAT ALL UPWARD REVISIONS WERE VERY PROMPT - THAT TOO WITHOUT EVEN INFORMING ME.


H> I HAVE EVEN REPRESENTED MY CASE TO MR ANIL DIGHE WHO IS SUPPOSED TO BE IN CHARGE OF THE HOME LOAN DEPT AT THE AXIS BANK H/O, ALSO REPEATEDLY ASKED HIM FOR THE MOBILE NO AND EMAIL ID OF THE GENERAL MANAGER IN CHARGE - BUT TO NO AVAIL!

THESE ISSUES HAVE CAUSED ME IMMENSE HARDSHIP DUE FREQUENT AND REGULAR VISITS TO THE BANK BY MY WIFE AND CONSTANT MENTAL AGONY WHICH DOES AFFECT MY WORK ESPECIALLY AS A DEFENCE PILOT, BESIDES LOSS IN TERMS OF MONEY ON TWO COUNTS - EXCESS INTEREST AND LOSS DUE TO FREQUENT VISITS AND PHONE CALLS.


I PRAY THAT THE BANK BE ASKED TO RESOLVE THE OUTSTANDING ISSUES AT THE EARLIEST AND THE BANK BE ASKED TO COMPENSATE DUE TO - THE LAXITY AND IRRESPONSIBLE BEHAVIOUR SHOWN BESIDES CAUSING CONTINUED EXTREME HARDSHIP AND IMMENSE MENTAL AGONY - WHICH AMOUNTS TO LACK IN SSERVICE PROVIDED ! IT IS ALSO PERTINENT TO MENTION THAT THE BANK APPEARS TO SHOW THAT THEY ARE ABOVE LAW AND CAN GET AWAY WITH ANYTHING AND EVERYTHING.

Personal — Change of Address not transmitted to IT Department

My PAN Card No. is AACPC9269K. I applied for change of address and obtained a new PAN Card. But I observe that in the communication received from IT Department, my old address is only shown.
Please advise what do i do?

Axis Bank — authorised money deduction without any information

Hi,

I have a Salary account at Axis Bank (Durgapur Branch, West Bengal).account no-[protected].

As on 30/03/2009 I found that Rs.1047.85 deducted from my account without any information.
I have put a mail on Axis bank(durgapur.[protected]@axisbank.com, durgapur.[protected]@axisbank.com, debit.[protected]@axisbank.com, [protected]@axisbank.com, Calcutta.[protected]@axisbank.com) but do't get any response from their end.

I am attaching the scan copy of mini statement.

So, I request to you pls do the needful.


With Regards,
Babar Ali
[protected]
babar.[protected]@wipro.com

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    Customer satisfaction rating
    42%
    Complaints
    9688
    Pending
    457
    Resolved
    3926
    phone
    +91 22 2764 8000
    location
    Axis Bank Limited Corporate Office, Bombay Dyeing Mills Compound, Pandurang, Budhkar Marg, Worli, Mumbai, Maharashtra, India - 400025