[Resolved]  Ing Vysya Ltd - Home Loans — Irresponsible Behaviour - Taking Customers for a ride.

This is regarding my frustration and woes with ING Vysya Bank Ltd. I had availed Home loan with ING Vysya and I have been regular in my monthly payments. Here are my complaints against ING Vysya:

1. Few months ago, ING revised my EMI because the Interest Rates had gone up. They sent out the correspondence by post but to my "previous/old" address. It was only because of my unchanged phone number that I got to know about the EMI change. The courier pereson called me up and informed of the courier.
Had I changed my phone number also, I would never have received the communication and I would have to bear the costs.

I had personally informed and given in writing my address changes to them and they lost it apparently due to some "system" issues. They had not even realised that they had lost all their address updates !!! What a pathetic state to be in !

2. I had made a part-payment few months ago for 50,000/=. They had accepted the payment and gave me a receipt also. But later when i enquired for my statement, the amount had not been credited to my principal at all!
When I enquired, the concerned person informed that the minimum payment was 3 months EMI ... They did not inform me of this and they had kept my funds in suspense. I only got to know of this because of the EMI change correspondence.
They did not even bother to inform me that my funds were in suspense and I was paying the high interest all through.

They had already taken out about 15K from that towards extra interest payments as the interest rates had increased.

The person later informed me that If I issued new PDCs he would adjust the remaining amount towards the principal.

3. I provided them the PDCs for the revised EMIs in July. But they still were submitting my old PDCs for two months. And this month, I got a call from them stating that there was due in my account.

This is to highlight the plight of all ING Vysya customers. Their customer service is absolutely pathetic. One cannot get through to the concerned person even in 10 attempts. The reception doesnot pick up the phone till atleast it is 10 or more rings. And then there is a long wait after she transfers the call. Most of the times nobody even picks up the phone. I have seen this with my own eyes when I was at their premises.

Please let me know how can I bring them to justice?
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Aug 13, 2020
Complaint marked as Resolved 
Complaint comments  6 CommentsShareTweet


Hi Friends, Never take home loan from ING or any private bank
If you are planning for home loan and find that taking home loan from any national bank like SBI is very difficult compare to private bank like ING, ICICI then you are on wrong lane. If SBI reject your home loan application then never finalizes this deal because either your property is disputed or your document is incomplete in this case you will find that private bank will offer you loan very easily. Here I am explaining you my experience with ING, when my loan is sanctioned they are offering me floating rate of interest @ 11.5 and when Ioan disbursed within month rate of interest increased to 12% . Before disbursement they are calling me daily and after that I have to call them daily. As All of you know that when RBI declare the cut in lending rate in November 2008 next day SBI decreased their interest to 9.27 % and you know still I am paying EMI @ 12 % to ING. Morel of the story is that hassles for two or three month from SBI is better then hassle from ING for remaining life.
even I am facing same problem man..
I had made part pre payment on 22nd JAn they are saying that it will be effective only in
month of march 09.I shall have to pay extra interest in feb 09.

I am troubled with their services.

Please tell me the way how to deal it.if you have contact person, please give me to resolve it.

my contact number : [protected].
These things about ING make me bizzare...

I have availed ECS facility from ING to debit Home Loan EMI's from HSBC Bank.

Now its been 8 mths, out of which three times ING has said that my account in HSBC bank has 'Insufficient Funds' and have charged me penalty for the bounce of ECS.
Whereas all three times I had funds much higher than required EMI amount.

On enquiry with HSBC Bank they simply say that they were not presented with any ECS request fom ING. Seems ING is tryin to be a smart .

I am in a fix now, cause 3 times I have paid penalty of Rs.300 without any fault of mine.

I have decided to give PDC's to ING now.
I somehow find ING's work culture sort o[censored]nethical.

pls mail me i[censored] can help me deal wit this bank.
i have a doubt here. I had taken home loan from ING 3 months back and now I am plainning to switch over to any of the nationalised banks. Can some one let me know what would be the preclosure charges and switching over would be beneficial to me
I have a home loan with this bank.. before signing the document they were behind me.. but not the story had totally changed. I have to make regular follow up for my request. The most annoying was recent prepayment and foreclosure condition changes. The have made it worse. You cant prepay not more than 25% of outstanding principle in a year without penalty. Even RBI has strictly instructed ( to be fair in these conditions, ING-Vysya is the first one to make this change. When i asked about the loan agreement they replied me that they can change any thing in the agreement as they have the right to do that. There is such condition on the agreement as well. In that case, why we need such an agreement. I'm having a tough time with this bank and service is pathetic. To make a part payment, I had to make 15 phone calls and 25 emails. On top of that financial loss.

I strongly suggest to refrain from this bank in availaing home loan as they will change the aggrement any time after you avail the loan and you are in soup.. Better try with some other banks who are more fair in policies.
I had very tough time with ING Vysya. They have even lost my property document. Guys never ever go for loan with ING Vysya.

@ Jose
What did they do ? have they accepted the part-payment without penalty.
When I signed up for the loan there was no such rule, how they can change Partpayment and Foreclosure rule. I want to fight this battle legally. Others interested ?

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