Location/place: Bangalore
Name of company/service: Union Bank of India
1. Interest rate promised 10.5% and applied 11.25%
2. Interest rate not updated in website (It shows 0.0%)
3. Interest rates are slashed. (My account is still in 12.25%)
4. Loan personnel knew that I was working in Bangalore and also know that my family stays in the house where the loan is sanctioned and still we did not receive any notification for interest rates changes.
5. After realizing that the information is not transparent in the bank and identifying the challenges I am asked to visit the home branch to sort things out.
6. There is a lack of communication even after multiple follow ups, there are no actions taken to fix the issue.
7. For any requests I am redirected to home branch.
8. Loan Interest certificate is a new feature available as per the bank however it is not an option in my account.
9. Logged complaint under grievances ( 8 days and none have connected with me so far, no updates to the complaint ticket)
10. No clear communication from anyone on how the matter can be resolved quickly.
11. After so much of follow up the loan department says that rate of interest going forward can be corrected however they said they may not be able to fix the prior higher interest rates applied.
Leave a Reply