How IDFC FIRST Bank Misleads and Ignores Its Customers

[atharva99]

​

Over the past two weeks, I’ve faced one of the most frustrating and unprofessional experiences ever with IDFC FIRST Bank regarding my loan application.


At the time of applying, I was promised by IDFC representatives that the entire process would be completed within 4 days (as they had taken soft approval regarding my loan application from their seniors) after paying an application fee of ₹5,900. I made this payment in good faith, only after getting verbal assurance from their staff that everything was clear and approved in principle.


However, what followed was a chain of lies, delays, and complete irresponsibility from IDFC’s side. The same staff who made promises — including Mr. Sanjay , Mr. Satyender , and Mr. Munna — have repeatedly failed to respond or take accountability.


At one point, I even received a WhatsApp message from an IDFC employee saying that my case couldn’t proceed because “seniors are busy, it’s month-end and all credit managers are occupied.” If that’s the case, why is IDFC still accepting new loan applications when they clearly can’t handle existing ones? Isn’t this misleading customers just to collect fees?


Despite multiple emails and escalation to the PNO, RNO, CEO, COO, CCEO, and even the Priority Desk, there has been no resolution. Their Mumbai team called once, acknowledged the issue, and then went completely silent again.


A meeting was scheduled by Mr. Munna himself at 11 AM to discuss the matter in person. I waited for over two hours, but he never showed up, nor did I receive any update or apology. This only proves that even senior IDFC staff lack integrity and respect for customers.


At this point, it’s evident that IDFC FIRST Bank has no accountability mechanism. Their staff keeps fooling customers with fake assurances, and the higher management seems busy covering up the mess instead of fixing it.

I have already shared the details and call recordings proving how I was misled, but even after raising the issue publicly on platforms like Twitter and LinkedIn, IDFC FIRST Bank continues to evade responsibility. There has been no acknowledgment, no correction, and no resolution.


If this is how IDFC operates — by taking fees, making false promises, and going silent when questioned — then every customer deserves to know.


Transparency, ethics, and professionalism are missing from IDFC’s culture.


#IDFCFIRSTBank #CustomerExperience #BankingScam #FalsePromises #ConsumerRights #CustomerAwareness #BankingEthics #IDFCFailure

 

[atharva99]

can someone provide some emails of senior officials of IDFC first bank.? That will be very helpful.

 

[Dr.AMAN]

​

Over the past two weeks, I’ve faced one of the most frustrating and unprofessional experiences ever with IDFC FIRST Bank regarding my loan application.


At the time of applying, I was promised by IDFC representatives that the entire process would be completed within 4 days (as they had taken soft approval regarding my loan application from their seniors) after paying an application fee of ₹5,900. I made this payment in good faith, only after getting verbal assurance from their staff that everything was clear and approved in principle.


However, what followed was a chain of lies, delays, and complete irresponsibility from IDFC’s side. The same staff who made promises — including Mr. Sanjay , Mr. Satyender , and Mr. Munna — have repeatedly failed to respond or take accountability.


At one point, I even received a WhatsApp message from an IDFC employee saying that my case couldn’t proceed because “seniors are busy, it’s month-end and all credit managers are occupied.” If that’s the case, why is IDFC still accepting new loan applications when they clearly can’t handle existing ones? Isn’t this misleading customers just to collect fees?


Despite multiple emails and escalation to the PNO, RNO, CEO, COO, CCEO, and even the Priority Desk, there has been no resolution. Their Mumbai team called once, acknowledged the issue, and then went completely silent again.


A meeting was scheduled by Mr. Munna himself at 11 AM to discuss the matter in person. I waited for over two hours, but he never showed up, nor did I receive any update or apology. This only proves that even senior IDFC staff lack integrity and respect for customers.


At this point, it’s evident that IDFC FIRST Bank has no accountability mechanism. Their staff keeps fooling customers with fake assurances, and the higher management seems busy covering up the mess instead of fixing it.

I have already shared the details and call recordings proving how I was misled, but even after raising the issue publicly on platforms like Twitter and LinkedIn, IDFC FIRST Bank continues to evade responsibility. There has been no acknowledgment, no correction, and no resolution.


If this is how IDFC operates — by taking fees, making false promises, and going silent when questioned — then every customer deserves to know.


Transparency, ethics, and professionalism are missing from IDFC’s culture.


#IDFCFIRSTBank #CustomerExperience #BankingScam #FalsePromises #ConsumerRights #CustomerAwareness #BankingEthics #IDFCFailure

Was it a personal loan? Did they give any written proof of receipt of the processing fees? Any reason for not applying the PL online and visiting the branch instead? Any issue in your cibil?

 

[atharva99]

Was it a personal loan? Did they give any written proof of receipt of the processing fees? Any reason for not applying the PL online and visiting the branch instead? Any issue in your cibil?

It's a Loan Against Property
Yes I have a payment receipt.
Yes there is some issue in CIBIL which was communicated to IDFC team before even initiating the loan.

 

[BrokenBoot]

go to ombudsman ?

 

[Dr.AMAN]

It's a Loan Against Property
Yes I have a payment receipt.
Yes there is some issue in CIBIL which was communicated to IDFC team before even initiating the loan.

Looks like ur loan against property has been rejected due to the Cibil issue or some other reason. Thats y they r not replying properly. The initial application fees is usually non refundable. It must have been mentioned somewhere in the loan document.( which they failed to inform u). You can try and ask for atleast part refund but chances r low. There is definitely communication gap from them. U can raise the issue to RBIO but the chances of loan approval r slim.

 

[atharva99]

go to ombudsman ?

Yes I have call recordings as evidence.
Can't go to Ombudsman before the 30 days after submitting the complaint with Banking Entity.

 

[atharva99]

Looks like ur loan against property has been rejected due to the Cibil issue or some other reason. Thats y they r not replying properly. The initial application fees is usually non refundable. It must have been mentioned somewhere in the loan document.( which they failed to inform u). You can try and ask for atleast part refund but chances r low. There is definitely communication gap from them. U can raise the issue to RBIO but the chances of loan approval r slim.

I have call recording that I disclosed everything beforehand. I was even given assurance by IDFC Staff that their seniors have given Soft approval and everything will get finished in 4-5 days.

I am no Mad that even knowing that there are some issues with CIBIL, I will submit fee for loan application without rhyme or reason.

 

[Dr.AMAN]

I have call recording that I disclosed everything beforehand. I was even given assurance by IDFC Staff that their seniors have given Soft approval and everything will get finished in 4-5 days.

I am no Mad that even knowing that there are some issues with CIBIL, I will submit fee for loan application without rhyme or reason.

Yes it is not ur fault. Sometimes these branch managers/officers give all assurances and high hopes during application. But ultimately it is the credit managers who will approve the loan. I heard somewhere that in IDFC First bank every loan process goes through 7 layers of checks before it is approved. The branch people r powerless if an issue arises during the credit underwriting. They will have to take the application fees for the legal charges for the property check. Better approach another bank/nbfc for the loan. IDFC has tightened their loan approval process since their MFI disaster last year. U can still escalate this matter till RBI to get the excat reason for ur loan's delay/rejection.

 

[atharva99]

Yes it is not ur fault. Sometimes these branch managers/officers give all assurances and high hopes during application. But ultimately it is the credit managers who will approve the loan. I heard somewhere that in IDFC First bank every loan process goes through 7 layers of checks before it is approved. The branch people r powerless if an issue arises during the credit underwriting. They will have to take the application fees for the legal charges for the property check. Better approach another bank/nbfc for the loan. IDFC has tightened their loan approval process since their MFI disaster last year.

But it's there fault that they have given high hopes and even claimed that their seniors had given soft approval for my loan application.

IDFC staff has literally cheated me. I will esclate this to RBI Ombudsman.

I have no worries as I recorded each and every call from beginning.

 

[Md_]

What's the issue in your cibil?

 

[ontherocks]

Yes I have call recordings as evidence.
Can't go to Ombudsman before the 30 days after submitting the complaint with Banking Entity.

The 30days rule applies only in cases where there is no response from bank. You can file a complaint even within a day if you have received a single response which is unsatisfactory.