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IDBI Bank Trivandrum - Beware of opening Fixed Deposits
May 4, 2006
I have an account with IDBI Bank Trivandrum. If you bank online with IDBI Bank, there is a provision at their website that enables you to open fixed deposits online. I was happy with this facility as this meant less paper work & more efficient use of time.
Still, I was not ready for this surprise. I had been booking 15 day FDs for a couple of months and everything was going on as usual. Then suddenly one day, I found that the money was not credited to my account after the FD period. I checked the online summary of fixed deposits and it showed that the maturity period was after one whole year!!!
Well, I contacted IDBI bank Trivandrum through email and the reply I got is that if I do not contact them when FD matures, they AUTOMATICALLY renew the FD!! In my case they had renewed it for a year! Well what nerves they have to take decision on their own with my money!
I have asked them to immediately solve the issue and credit the amount to my account. Lets see what comes of it.
Anyway as of now IDBI bank tvm seems to be highly unprofessional.
Update May 09, 2006
Its been a week since I last got an email from IDBI Bank on this issue. In the meantime I have sent them 3 emails (one every other day) asking for some form of action/response. Zilch, Nada, nil, zip, zero response!! I have resolved to ensure that this review gets good web presence. Anyone searching for IDBI Bank Trivandrum should come across this account of my experience before they decide to open an account.
People, there are other good banks out there. HDFC Bank Trivandrum (I have account at the Pongummoodu Branch) for one is good. They do not play with your money as IDBI Bank Trivandrum does!
Posted by liveit at May 4, 2006 3:14 AM