Citibank Personal Loan - Never apply here. Review on Citibank

TO: 'indiaservice@citicorp.com'; 'varun.sridhar@citigroup.com'; 'sapnak@sparshindia.com'

Subject:Citibank Personal Loan.

Mail:

This is regarding my application for the Personal Loan. Citibank offered me Loan of Rs. 6,00,000.00 @ 11% interest per annum and 0% processing fees.

Citibank agency used to call at least 25 times a day for collection of documents, getting information and updating me on this regards.

As per my talk with their representatives: Srinivas, Shabana - I came to know that Citibank has already approved loan of 6Lac with 11% interest rate, I have to submit all requested documents before 31st March.

My friends working in banking sector told me not to believe on Citibank, its world known that Citibank gives offer for one rate and later change the word very easily. Upon this I took confirmation from Mr. Srinivas that the interest rate I am getting is confirmed. Trusting on Citibank I didn’t apply for Personal loan in any other bank, where ICICI & HDFC were ready to give me loan @ 11% before 31st March.

Before 31st March I finished all formalities and I also signed agreement copies and was told that Loan of Rs. 5,30,000 is sanctioned @ 11% interest. I gave 3 BLANK cheques – which clearly states that my loan is approved and I will be receiving D.D.

For next 2-3 days I didn’t get D.D. or call back to inform the status, and when I called I came to know from Agency that I can get loan of Rs. 3,00,000 @ 18% interest.

Now at this point of time, I lost loan offer from ICICI & HDFC who were ready to give me Rs. 6,00,000 @ 11%, I totally lost trust of CitiBank and their agency.

Citibank and its agency should understand – any person applying for Personal loan are in some need of finance which could be critical and sensitive, just to make their business, get some points and earn more interest rate they can not play around with customers.

Lastly I would like to hear the status from CITIBANK as soon as possible.

-Neeraj