Never go for Citi Bank Car Fiance (read WHY). Review on Citibank

With ref to:

1. Rejection of giving NOC for conversion of my vehicle (Maruti-800 financed by CitiFinance) to convert from Petrol to LPG (Govt. Approved).

   
   




2. ill/poor informed citi-phone officers

   
   

I have purchased a Maruti 800 by loan from Citi Finance on 30/8/06, in January I decided to convert it to LPG. On account of the same we needed NOC from bank to get the vehicle endorsed with RTO.

When called to Citi-phone through Citi Bank ATM to look for the address where we could get in touch with the citi finance officers, we were told by the citi-phone officer that – “I don’t know the address sir!”. Well, my next question was is it open on Sundays/Saturdays? Again after putting me on hold for some time the response was – “please check on Monday Sir!”

I left the place in frustration, displeased with the kind of response from citi-phone officer. My dad went on searching for citi-financial through Bimal auto Agency (Indiranagar Branch). Thanks to them – they atleast showed the way. Finally when we go to search the citi car finance department in MG road, alas! There is no such sign-board stating it’s a citi-finance!!!!

Again my dad went back to Bimal showroom, then it was discovered to be secretely named as e-serv or e-service (I don’t remember exact name now) beside the le-meridian on MG road. When my dad alone went to enquire about the NOC, he was flatly told its not possible just over the phone! (it was Ms. Shilpa who was first contact from e-service)

My dad was simply given the citi-bank phone number and asked to call them, there it’s the same story – “flatly denied that there is no NOC”My dad, asked if he could meet any officials – the response to which was “NO, you can talk to the phone number given!” Considering the whole messy situation – I had to apply a day’s leave to only speak to citi financial people. On Friday – 12th Jan 2007 – I applied leave and accompanied my dad along with the RTO person.

About 1.30pm, when we enquired with Ms. Shilpa – she informed me to talk to the phone number given or talk to one Mr. Amit, I had to wait for him since it was almost lunch hour.

When I asked to use the phone kept on front desk (that’s where bill payments are received), she herself dialed the number and given to me, by mistake I went to the option where the IVR menu asked my card details, when asked how I can speak to citi phone officer, the lady got angry n said – “Why did you do that?”

Oh man! I was sorry to be asking for a small favour! (Probably that’s not their job description!)

I finally got a lady from Citi Car Loan online, the officals name is Ms. Shamala. When asked about the details how I could get the NOC so as to endorse the LPG kit fitting into my car, the response from her was – “No we don’t give NOC for GAS conversion!”.

I was repeatedly asking why is that? Because all the other banks (like ICICI and even nationalized banks) are giving NOC they why Citi bank is rejecting my request? Even after my repeated queries the response was NO.

I asked if I could speak to some one Face to Face? The response is again – “NO, only through phone I can ask” What’s this? $%@#%#$Finally she agreed to transfer the call to her higher officer!

Now, I was directed to Ms. Ayesha Saleem (Car Loan Incharge!!!). Well, it’s the same case even here, repeatedly I was asking WHY? But both of the officers (Ms, Ayesha, and Ms, Shamala) could not answer WHY!!!

By that time, Mr.Amit was back. Its only he who answered my question as to WHY citi-fiance could not give NOC? He informed me that – there is a diff between car with LPG and car without LPG. When loan is disbursed its about 10% - 15% diff between the loan amount sanctioned. And now nothing can be done and hence no NOC can be issued and citi finance will not entertain such requests! Any better alternative? – only I could think of transferring the loan to some other banks that care enough to give NOC to their customers but again if I have to transfer the loan I have to pay 5% penalty charges! And there is no other alternative.

As, the LPG KIT, worth Rs. 22, 000/-, is already fitted in my vehicle I can not get my money back from the GAS fitting station, though its govt. approved. I was informed by the LPG fitting station manager that in his life time this is the FIRST ever case where bank dint issue NOC.

We are still struggling to get our money back from the LPG fitting station. But, you need to consider how much turmoil I had to go through to understand that citi finance is no good for me. I was informed by my colleagues to go for other banks and not Citi Bank! Yet, I chose to avail loan from citi bank only due to the fact that my corporate / salary account  is with Citi Bank and the proceedings of getting loan would be easy! But I think now I made a big mistake by putting trust with citi bank. Thanks to the way I was treated with citi bank car finance. Its learning for me and all the people involved.

I here by just want all of the concerned people in my vicinity (my friends and my relatives and all possible people I associate with) to be informed (rather WELL INFORMED) that NEVER CHOOSE CITI BANK FIANCE. I will never ever recommend any one to go for citi bank. Another reason being the ROI was not better compared to other banks when I made the deal, but as my purchase was the last day of month where targets are to be met it was sanctioned with the ROI that was offered by others! So be well informed that citi bank wont give NOC for LPG kit.

The slogan your citi never sleeps! Looks dull to me – I suggest to change it to "citi always sleeps and wont listen to customers!" Because it [citi-bank finance] never stood by my side!  only hope the citi bank officials listen to our voice. and act to correct this kind of issues.ThanksVijay