Scam personal loans_Citibank. Review on Citibank

Hi,

I just wanted to share my experience with citi bank.

Any bank will have a pre payment penalty if the loan amount is paid within the loan tenure.

I have a personal loan with citibank, first loan I took was before two years for 70000@18% and after a year I took a topup loan, amount Rs 120000@18%.

So I have been a customer for 2 years and I have never missed my payment.

Now when I called to check how much I need to pay to close the loan I was told I should pay Rs1, 03, 000 which was a shocker.

I have paid Rs4338 for 12 months and they tell pre payment is 5% which is really high and was never communicated by the bank.

Whats the logic in paying EMIson time from the last two years when they charge 5% pre payment.

And also the emi goes out of my AXIS bank account on 1st of every month.

I deposit cash at 9am on 1st of every month and money was taken out of my account by citibank.

All of a sudden in Feb may be on 10th I got a call from a collection agency which asked me to pay emi which is due, i told the money is in my account take it.

They refused to take and asked me to walk into the citi bank collection wing which is in MG road bangalore, istay off peenya which is 25 kms away.

I work for night shift and had to send my dad to do this without any other option.

My dad is in his 60’s and he was made to wait on the street for half an hour on a hot sunny day and after that had to wait for another half an hour inside the bank.

This is the worst banking experience as per my dad, my dad was working for IIMB which is a central government office and even today when he walks into SBI bank to withdraw his penision every month, bank staff and manager are very  caring and thats waht we call respecting customer and his banking, not make a senior citizen wait on the street for 30 minutes.

Please dont take personal loan from citi bank, you will regret it.

I am refinancing next month, go for a personal loan from indian overseas bank, indian bank, canara bank or vijaya bank or any SBI bank.

They dont cheat you like citi bank.