This Saturday, I went to ICICI bank for reducing my housing loan tenure. In first place, in the attempt to keep the EMI (Eqauated Monthly Installments) same, the bank had increased my tenure to something as unpractical as 470 months (Over and above ~2 years of repayment I already did). Now that meant that I will be repaying my home loan till I become 80. Now why was the bank so sure that I will be able to pay my EMI till that age? I found it impractical in first view itself. Anyways… I though I need to get this updated ASAP. Meanwhile bank also sent me letter that they are not able to keep the EMI at same amount and have increased it marginally. I should go to the branch and take corrective action.
I reached the bank at 1:00 PM. The waiting area was full with nearly 70-80+ people. But since there is only one branch for the whole Pune city, I had no option but to wait. Having nothing to do, I started observing which counters are taking housing load queries. It is easy as the token number has specific prefix for such queries. I found that there were about 3-4 counters where these queries were attended. But soon after two of the counters stopped appearing in the list. Thinking that it must be lunch time, I looked at those counters. To my surprise, I found that these two counters were attending only one customer. I had to leave the bank by 3:30. I went to the help desk and got a reply that customers have lot of queries and the executives can not shorten the time taken.
Finally at around 2:15 the customer on first two counters moved out. Then there were two customers but still no movement till 3:00 PM. Meanwhile, there was a real rough fight between one senior officer and a customer, where the officer asked customer to “Get Out of the branch”. Words you will hardly hear from an officer. But I thought this guy seems to be controlling situation. I went to him and asked him:
- Is there any SLA for the executives attending the customers?
- I found the two ladies attending the housing queries taking one hour per customer. Although customers have queries, is it justified at such rush hour to take so much time?
Unable to answer my queries, he did the best he could. Allowed me to jump the queue. He asked one of those ladies to take up my work as soon as their work in hand was over.
This lady to my surprise was trying to cross sell me another product in the guise of helping me reduce my interest rate. She told me just by paying 20K, I would reduce my loan tenure by 100 months which was still impractical. But the catch was that I had to invest into ICICI Bank product for getting that benefit. C’mon when you have so many customers waiting, you can’t do such cross selling across the counter. She could have handed it over to a phone banking executive to do later. While I was being attended to, the lady at the other counter shouted… “this customers waiting time is 3 hours!!!” She had just called next customer. I said in my mind… “that means poor fellow is just fourth in the queue since morning”
Had the cross selling not been there, I would have finished my work in 10 minutes, which took me 20 minutes. But still I helped them improve their SLA. 🙂