[Resolved] HDFC Bank — Very Very poor service, lying, cheating, not refunding the whole processing charge

[Resolved] HDFC Bank — Very Very poor service, lying, cheating, not refunding the whole processing charge

S subhajit4u from Kolkata, West Bengal

Hi, I had taken a home loan from HDFC. The file no is[protected]. When I had applied for the loan HDFC told me that the project is already approved so need to bother about any approvals. They charged me Rs 8237/- and sanctioned the loan fairly fast. But when it came to disbursement of the loan they started all the fuss. They withheld the disbursement saying the housing project is approved but the housing phase is not approved because of some documents which they need from LIC. They kept this disbursement on hold for more four months. I was promised an interest rate of 8.25% when I applied but in the meanwhile HDFC kept on increasing their interest rates. My builder also started charging me interest rates because of late payment. I asked my parents to visit HDFC office to sort out the matter. But they went from one desk to another and was told that the disbursement will be released. I waited for almost another month. But nothing happened. When I called up HDFC they kept on pointing from this person to that person. So finally I made an application to cancel the loan. Now HDFC told me that the papers are with Garia branch so the application has to be submitted to garia. When I went to garia branch they told me that the papers are with Jeevandeep branch. I was under this harrasment for another couple of weeks. When I received the cancellation email I was told that the papers are sent via courier. Nothing happened. So we had to go to jeevandeep to collect the papers. But even then on the first day they only refunded half the money and some duplicate documents. Even after that I had to go another time to get the original documents. They told me that they are deducting half the amount because they have started the disbursement of the loan. But when I called up the builder, the builder told me that the disbursement is still waiting. So basically HDFC was cheating with me and also took away 4000 of my hard earned money Was this information helpful? No (0) Yes (0)
Aug 13, 2020 Complaint marked as Resolved
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Comments

ssal

from Ahmedabad, Gujarat

I truely agree with you. Even we are also very much frustrated with HDFC housing service. Even I am going to take my case to high level . Because of HDFC our housing deal was about to cancel but other bank saved our life.. My family was mentally disturbed because of HDFC's lethergical treatment. I think RBI should take a serious action on such banks who do not care about their customers..

Manikandan B

from Mumbai, Maharashtra

I totally agree with you. I had similar experience with HDFC. I had applied for Home/Land purchase loan to purchase land in Coimbatore. Submitted all the required documents and processing fees of approx Rs11, 500. HDFC initially said they will fund only 70% of the total land cost as it is a "Land Loan". Only for "Home Loan", they give 80% for the value more than 20Lakhs. Since I said, I cannot afford to proceed if I have only 70% and was about the cancel the Loan, they confirmed that they will give 80% of the cost. HDFC did confirm the date of cheque issue and we did fix the Registration date and called the Seller, purchased the registration papers for few Lakhs and taken a DD few thousands, Also paid the seller the remaining 20% of the cost. On the day of registration, HDFC says, they will give only 70%. Also the managers said "HDFC does not encourage and provide loan for Land purchase. Because I am an existing customer, they considered for the same". The Sales executives say something and promise something, the HDFC managers, technical assessor, credit assessor does something. Never go to HDFC Sales Executives or HDFC for Home Loan. Finally I had cancelled my loan, lost the processing fee. Due to all these HDFC issues, I was forced to think about ending my life. I had cried a lot. But realized that HDFC is a cheater. They do not consider customers at all. Around 2 full days been wasted at HDFC office and no use. Lost the processing fee of Rs11, 500. Now I am praying god to get the 20% of the amount paid to the seller. This 20% amount is my one full year salary.

Friends, please go to Nationalized Banks only for Home Loans. Keep sufficient time between your loan processing, sanctioning, technical assessment by the bank and the final cheque preparation and the date of Registration. Do not believe the Sales Executives and their promises especially HDFC bank. If you want to purchase land/home, please do save amount (keep your savings in nationalized banks only and never in any of the private banks) and then plan for it.