Jul 12, 2010 01:10 AM
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Over the past 10 years, we tried many banks for our company including ICICI Bank, Axis, Yes Bank.
At all these banks, especially over the past 5 years, there is a dramatic reduction in quality of service. ICICI problems are well known: it was impossible to even get them on the phone. We found in Axis and Yes, the staff is new and does not understanding simple banking rules. Every small transaction means dozens of phone calls, paper work etc. Further they were screwing us every time on the deposit rates, transaction charges etc.
Though we had heard a lot of good things about South Indian, we entered into the relationship as a second banker with some hesitation.
After nearly 2 years of using them I can state with confidence that:
-The people are all well trained and understand banking transaction-Quality of service is excellent-We consistently get the best rates for FDs, etc.-No high profile sales efforts as with some other private banks like Yes Bank(yes, these guys used to be pissed off if we did not buy the product they would recommend in a presentation.after they using heavy sales pressure to make us presentations that we did not want).
So with it is ones personal account or a company account, one will be dealing with good, solid folks. The big disadvantage is that they still dont have internet banking. They say it is going to happen towards the Sept 2010.
