Mar 19, 2009 05:51 PM
2637 Views
This is one bank I approached for a homeloan without much idea about them. the funniest part with this bank is that your contact point for any information will be some outsourced agency and some executives working there who will have no idea about what the bank policies or procedures.
I was shocked to see the executives even not able to serve such simple requests like computing the current interest rate. When you take the loan they show their marketing skills and show you that they are the masters.
There on it is just your emi payment they are waiting for. Absolutely no information or communication will be sent to you or any updates. Even if you pay some 5OK emi, they will not send you any update on your loan. Yeah they will keep updating you if the emi rate is hiked, to remind you to submit the new cheques. The biggest lesson I learned after banking with Axis bank is that, we are very much dependent on the 24x7 on call support and the online website of the bank.
Axis bank is a big zero in both the cases.I would say even if HDFC/ICICI/CITI/Anybody else is charging high rate compared to Axis (I am not sure, I think they keep varying), if you know where your money is going to and what is the current position of your loan then that is much releiving for a borrower. If you are taking a loan from Axis, plan for the painful days ahead in which to get any minute information you will end up visiting the branch probably taking half a day leave. I dont recommend Axis, they need to improve a lot before getting into business.
