Federal Bank Complaints & Reviews

Prepayment of rs 1000000 (Rs Ten Lakh) done on Dec 30 2010 (loan amount of Rs 19 lakhs) but EMI not reduced till date 2 June 2011

This is with respect to Federal Bank Home Loan A/c number [protected] vis which I had taken a loan of Rs 1900000. I had never defaulted in EMI's till date since Nov 2008. I made a prepayment of Rs ten lakhs on Dec 30 2011 (cheque clearing date). I had given a written letter at the time of submitting clearly stating my intent of repayment as reduction of EMI which was readily accepted by the Bank Manager ( Ms Susan Cherian). Although, she did not provide any receiving copy for the same even on insisting.

They continued to charge me the full EMI in Jan, Feb, Mar and Apr. All this while I sent innumerable mails with continuous calls but all in vain. Finally one fine day I got a call from an employee from Federal Bank wherein she said the best solution you stop the ECS which accordingly I did by closing my account.

I again spoke to the manager Ms Cherian today (2 June 2011), wherein she states that reducing the EMI is not an option as of now but please go ahead and send another written mail.

My only query is that ain't we as customers allowed to reduce our EMI by Prepayment of principal under the current laws and what legal recourse do I have for all this harassment and overcharging.

Thanks
Seejo
[protected]

POOR SERVICE; ROGUE RESPONSE OVER PHONE;
LBS CENTRE FEE COLLECTION FOR 2011 PARAMEDICAL APPLICATION WAS ANNOUNCED TO BE STARTING ON MONDAY 18TH APRIL 2011. ON19TH APPROACHED THE FEDERAL BANK EAST FORT BRANCH IN PERSON FOR REMITTING FEE. 'NO COMMUNICATION REGARDING THE MATTER.' WAS THEIR REPLY. ASKED US TO COME NEXT DAY. NEXT DAY PHONED AND ENQUIRED. THEN THEY REPLIED THAT THE REMITTANCE MUST BE ONLY IN MAIN BRANCH. WE CONTACTED THE MAIN BRANCH. THEY TOLD ALL THE BRANCHES DO HAVE THE FACILITY. AGAIN CALLED BACK TO THE EAST FORT BRANCH. THEN THEY TOLD THE SAME: NO COMMUNICATION RECEIVED. ONCE AGAIN THE SAME DAY APPROACHED THE BRANCH IN PERSON. THEN TOLD NO STAFF IS APPOINTED FOR THE PURPOSE. ASKED US TO COME ON NEXT TUESDAY. WE WENT TO THE TB ROAD BRANCH WE GOT THE FEE REMITTED IN 15 MINUTES.
WHAT IS WRONG WITH EAST FORT FEDERAL BANK BRANCH?
LBS CENTRE SHALL NOT ENTRUST SUCH RESPONSIBILITY TO SUCH BRANCHES.
NO WAY TO COMPLAINT THE BANK WITHOUT AN ACCOUNT IN THE BANK.

Dear Sir,
we have our all family account including our corporate accounts are with you at The Fedral Bank Ltd. we are facing lot of problem to get the financial assistance from bank because the chief manager / senior Manager is never available in the branch for any productive work.only clearical work can be done at the branch.
The senior Manager never gives any positive responce in any problem. which are related to our account with you.
i have to take a housing loan of Rs. 10.00 lacs on the house property of rs.65.00 lacs .but unable to get any response from S.Manager .
Pl. look into the matter seriously.
Thanks
R.Prasad

I'm Jose Francis, Kadavoor, Muvattupuzha, Ernakulam. My ATM Card Blocked in Federal bank ATM Machine at Alappuzha Branch on 30th september 2010 and i didn't returned my card yet(4th oct 2010). and nobody answering my questions. i went all the way from muvattupuzha(kadavoor) to Alappuzha for collecting my ATM Card on 1st Oct and 4th.

I Have taken a home loan from Federal Bank Koratty ,The amount approved is 18.5 Lakhs ,Out of this an amount of 50,000 as insurance ,and another 15 lakhs disbursed to me .At the time of processing it was said by the Bank Manager that the EMI will start after 4 months and by the time could finish the remaining work and vail the entire loan amount .But After a month& half ,after disbursed the first amount of 15.5 lakhs i got a call from the Head office aluwaye and said i am defaulted the payment .I didnt agree with this and asked to speak with the Branch Manager .When i spoke he was informed as it is almost disbursed more than half of the amount ,it should start with the next month .I started my EMI from Net month as any way i dont want the burdens on me .Now i am paying EMI of 18764 as the bank manager had a verbal communication with me that the Actual EMI will be based on 15.5 Lakhs which disbursed and the additional amount payed on the Entire EMI will goes to the Principal amount .
Now my issue is this month there was a deduction of 150 rs from my account ,i called the toll free number nd they was said that it is deducted for the Legal Liability Certificate for the property whihc i pledged to the bank.
I dont understand that since it is more than 6 months ,the Loan have been passed ,and the EMI are deducting ,how bank can deduct an amount for legal certificate .Where before the loan approval i have cleared the legal verifications on the property and my self paid the amount to the Lawyer .Also it was paid an amount of two thousand was paid as valuation fees .
I have contacted the Toll free number ,asked me to mail to the [protected]@federalbank.co.in and they have asked to contact the bank manager .Sent the mail to the branch & waiting for the reply ..I want to know is there these are common the banks can charge to the customer ,amounts like these and is this legal certificate required any way for the pledged document which is under custody of bank for six months ?

I WISH TO ALERT THE BORROWERS OF HOME LOAN:- PLEASE PLEASE TRY TO AVOID APPLYING HOME LOANS AT FEDERAL BANK. THEY WILL TAKE PROCESSING FEES FROM YOU AND AFTER THAT THEY WILL CREDIT THE AMOUNT AND AFTER THAT THEY WILL NOT GIVE YOU LOANS. IN KOLKATA THEY HAVE DEPUTED TWO CHEAT FELLOWS AS THEIR LOAN APPROVAL AUTHORITY. THEY ARE MR. ELLIAS AND THE ANOTHER IS MR. SHIB NATH ACHAR. THEY ARE SITTING AT 16-A SHAKESPEARE SARANI, 5TH FLOOR, ABOVE B. K. MARKET. BEWARE OF THESE PERSONS. YOU WILL LOOSE YOUR MONEY. THEY WILL NEVER REFUND YOUR PROCESSING FEES AMOUNT. AFTER TWO OR THREE HARRASMENT THEY WILL SAY THAT THEY WILL NOT GIVE YOU LOANS. BASED ON THEIR VERBAL COMMITMENT IF YOU ADVANCE TO YOUR PROMOTER OR SELLER, YOU ARE GONE. SO BEWARE OF THESE CHEATS.

Good day sir,
My name is George and im working with EMIRATES airline in TRV international airport.This is to inform you that i had contacted my federal bank branch in my town for an ECS clearence on 18 Mar2010. This was for my two wheeler loan from HDFC bank. But when i contacted Federal bank manager Mr Nazimudeen for this he just denied to stamp. The reaseons he mentioned was that i was not operating my account for the last six months. Ok i understand that but i clearely informed him that i was out of station( in Jeddah international airport for the last six months for my duty. But he just was not hearing anything.

This is absolutely ridiculous that a branch chief manager behaving in such a way.

I approached the Mannar branch of Federal Bank, and asked for a vehicle loan.
I possess a salary account with the same branch, and has a good track record of a reliable customer.An oldy was the manager, the guy flatly refused a loan stating that he wants to see my 3 years F16!! I was abroad, and came back only last year.What F 16? He did not even bother to explain , talk decently. The kind of managers are those in the manger.My formal complaint to the web Id and to the call centre did not meet with a reply.
No wonder why people seek new gen banks!!!

My name is A.KALA, DOB 24.07.1968, Residence Address is 119-C, G&J (U), PITAMPURA, PAN NO. AF0PA4669L. I have applied for home loan with Federal Bank and have come to know about CIBIL case of credit card being written off. To the best of my knowledge I have never used any credit card. Please give me the details. and also mark the mail at the following email ids
[protected]@yahoo.co.in
sanjay.[protected]@fedfina.com
Regards

Hi,

My name is Pradeepto. I had applied for a Housing loan from Federal Bank in Bangalore ( Residency road Branch). After the process of all verification the loan was approved and I went ahead with the documentation process in the bank. But just before the Registration of the property , I had found out that there was some fraud in the property and hence the registration didnot happen. I was pushed by the bank to go ahead with...

My name is Anup mittal i have taken loan of 10 lakhs fron federal bank borivali branch @11.25% in march after few months they have sent me a letter for increasing my intrest to 11.75% from then i m paying the same intrest when i contacted the bank for the same the manager said that i have to give a written request for reducing intrest. when while increasing the intrest they dont even ask us then while reducing intrest why should i give a written request, as i m paying a very high intrest pls help me in reducing my intrest and pls help me get refund of all the high intrest hat i have paid i will be thankful to you

I am Abdul Gafoor.Vengara, Malappuram. I have savings account on federal Bank Oorakam ( a/c no 7625). Assistant manager told me that i have got minus balance , and have to deposit 1000 rupees for further transaction. I dont know how i got minus balance. For my belief there will be at least 1500 rupees on my account. Assistant manager said that 1000 rupees was somewhat "freezed". i dont know what is "freeze". and why my cash is freezed. Then I requested for a bank statement. he rejected my request saying that another 100 rupees will be charged for the statement and 20 rupees per page also. I dont believe that any bank charges 100 rupees for bank statement.

ABDUL GAFOOR
VENGARA
MALAPPURAM
KERALA

I have been using the internet banking fasility of federal bank for making the payment of my mobile bill
(no [protected]) . But in the last week of march 2009 I have submitted one more application to PALA branch for remitting the land phone too. But so far they havnt paid the bill. Please take necessary steps to make the payment.

hi!
im Madonna Robert im trying to apply online for job in federal bank but the form does not open. Can u please check the site since im suppose to pay the registration charges...

Thanks and Regards
Madonna Robert.

Hi All,

Never approach with Federal Bank for Auto/Car loan. Once we will take the loan after few months they will say this is float rate of interest and we are going to increase the ROI from this month onwards this month and pay this updated EMI from next month onwards.

I never heard any part of the world, auto loans are floating rate of interest.
They will have cheating all the customers.
Please take care of the Federal Bank with any kind of loans

Warm Regards
Rajendra Konduru

On 21 November 2007 I have done an online transfer through Federal Bank, Triprayar Branch, Kerala. (FedNet) from my account No. [protected] of Rs. 5000.00 to my wife’s account No. [protected] and until now this money is no where as it shows not in my account or my wife’s account, due to this issue I wrote to the Relationship Manager explaining the situation and he replied me that because of technical failure it happened so and he has advised the Branch Manager to credit the amount to my wife’s account ([protected]) ASAP and as per his word I told my wife to check with the Branch Manager at Triprayar after one week to ensure the money is there in her account, and when she checked both mine and her statement she came to know that the money is still missing so she met the Branch Manager and he was not at all co-operative or friendly and he was so rude as he was saying he doesn’t know nothing about this and he told that he is not the one to reply about this issue and please remember that both o[censored]s have the account in the same branch and seeing that statements any dump persons can understand that the money is missing.
Also I was sending so much of emails to the relationship manager and mailed a complaint to [protected]@federalbank.co.in, [protected]@ federalbank.co.in and there was no response till date.