DRHLSUR00611650 - This is my personal Experience with DCB BANK

 

My Experience with DCB Bank Home Loan – A Cautionary Tale

Taking a home loan is a major financial decision that requires trust in the bank and its policies. Unfortunately, my experience with DCB Bank has been filled with mismanagement, misinformation, and unnecessary struggles.

From wrong credit report submissions to unjustified penalties and hidden restrictions, I have faced numerous challenges over the past 13 months with DCB Bank. I am sharing my detailed experience so that others can be informed before considering any financial dealings with this bank.

1. Wrong Credit Report Submission Despite Timely Payments

One of the biggest shocks came when I checked my credit report and found that DCB Bank had incorrectly reported my loan status.

What Happened?

  • Even though I had been paying my EMIs on time, my credit report wrongly showed late payments.
  • A wrong credit report can affect my CIBIL score and financial credibility.
  • It took me 15 days of constant communication with both the credit bureau and DCB Bank to rectify this issue.

Key Issues with the Bank’s Approach:

  • The bank never proactively informed me about this mistake.
  • I had to fight on my own to get my report corrected.
  • The bank was slow in responding and failed to acknowledge their mistake.

2. Hidden Charges on Part-Payment – A Violation of My Agreement Letter

When I decided to make a part-payment towards my home loan, I was shocked to hear that DCB Bank was charging 4% + GST on the amount.

My Agreement vs. Bank’s Claim

  • As per my original agreement letter, I was allowed to make a part-payment of up to 25% of my outstanding loan without any charge.
  • However, when I requested part-payment, I was told that I would be charged 4% + GST, which was a clear violation of the agreed terms.

My Struggle to Get Approval for Part-Payment

  • I had to go through multiple levels of communication, including RM (Relationship Manager) Zubair Shaikh (+91 9023564478).
  • After 45-50 days of repeated follow-ups, the bank finally approved a part-payment of ₹4 lakhs.
  • However, this approval was less than the 25% that I was originally promised.

The Hidden Trap: Validity of Part-Payment Approval

  • Neither DCB Bank nor Zubair Shaikh informed me that this approval was valid for only 3 months.
  • This meant that I had to seek permission again and again for what was already agreed upon in my loan contract.

3. Forced Insurance & Delayed Refunds

When I took my home loan, DCB Bank forced me to take an insurance policy along with it. While I accepted this initially, the real problem started when I cancelled the premium and requested a refund.

Issues with Insurance Refund:

  • The insurance refund was credited back to my loan account, which was fine.
  • However, one of my refunds was never processed.
  • I had to fight for another 15-17 days to get this amount credited back.

Why This is a Big Issue?

  • The bank’s processes are slow and inefficient.
  • Customers should not have to fight for weeks just to get their own money refunded.
  • This is not feasible for working professionals who do not have the time to chase banks repeatedly.

4. No Flexibility on Loan Term & Interest Rate Reduction

As part of the loan agent’s initial promise, I was informed that I could switch my loan from fixed to floating interest rates. However, when I approached the bank for this:

  • They denied my request outright.
  • When I requested a reduction in my interest rate, they denied it again.
  • It should be goodwill cause they can reduce the interest rate

Why This Matters?

  • Banks should allow customers to switch to floating rates, especially when the service is too bad and all bad experience going on.
  • A fair banking system should not trap customers in expensive loan terms without offering them flexibility.

5. Penalty for Part-Payment Despite Agreement Terms

I personally saved ₹3,15,000 and decided to make a part-payment towards my home loan. Instead of appreciating my effort to reduce my loan burden, DCB Bank imposed a penalty of ₹14,000 on this payment!

What Went Wrong?

  • My agreement clearly stated that I was allowed to make part-payments under certain conditions.
  • DCB Bank ignored their own agreement terms and still deducted a penalty.
  • Even after discussing with RM Zubair Shaikh, no resolution was provided.

Lack of Customer Support

  • I have been fighting this issue for over 7 days.
  • For the last two days, Zubair Shaikh has been unreachable and has not communicated with me at all.

6. Poor Customer Support & Inefficient Systems

One of the biggest problems with DCB Bank is their poor customer service and outdated banking systems.

Major Issues:

  • Customers have to repeatedly call customer care just to get basic information.
  • Bank executives do not communicate properly and delay responses.
  • Customers are forced to escalate minor issues multiple times to get them resolved.

Final Warning: Avoid DCB Bank

Based on my experience over the past 13 months, I strongly recommend that people should NOT engage with DCB Bank for any financial products.

Final Thoughts – Stay Away from DCB Bank

My home loan experience with DCB Bank has been filled with:
✅ False promises
✅ Wrong credit reporting
✅ Hidden charges on part-payments
✅ Forced insurance & delayed refunds
✅ No flexibility on loan terms
✅ Unfair penalties on part-payments
✅ Unresponsive customer service

If you are considering taking a loan from DCB Bank – I highly advise you to think twice. Their unethical banking practices, lack of transparency, and poor customer support make them a terrible choice for any financial relationship.

Disclaimer

I, Pratik Nakrani, am writing this blog based on my personal experience with DCB Bank. I have all the necessary documents, and communication records to support every claim made here.

This blog is written with full confidence and legal backing to warn others about the issues I have faced with DCB Bank.

Conclusion

A home loan should be a smooth and hassle-free process, but my experience with DCB Bank has been nothing but frustration and disappointment.

💡 If you value your time, money, and peace of mind – DO NOT choose DCB Bank for any kind of loan or financial services.

🔴 Please share this blog with others to spread awareness!

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