IDBI
Home Loan

Hi I have taken home loan from IDBI 2 years back. This was a composite loan of around 42 Laks for purchasing 30*40 site. At the time of purchasing the site they disbursed 25 laks. Now i am planning to build a house with minimum money as my salary has come down. I dont want the complete 17 laks to be disbursed but only 2-3 laks, in which i will build a small house where i alone can stay.

I got the necessary approval from the Municipal for building the house, but now the IDBI bank is telling that there is rule that i need to build a minimum of 600sq ft. This was never mentioned any where in the loan documents. I am telling them at i will build a small house now, and after some years will go for the complete house. But they are denying to disburse the amount for what ever i have constructed the house now. Becuase of this i have stopped my construction now and i am in trouble. I have been loosing money.

Also the customer care people never responds to the calls, it will be just ringing. Now when i told i am not happy with the way they are banking, they tell me to change for any other bank for which i need to pay some Penalty charges.

I need to raise a complain against them reargding this. Please suggest me the process for the same.

Santhosh

Company: IDBI
Country: India
State: Karnataka
City: Bangalore

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