DHFL — Unfair conditions imposed while taking home loan | |||
Sir/Mam, My name is Rishi Narang. I am the applicant of home loan in DHFL. My Application No. is 01100699. in Noida, Sector-1 Branch. I received my approval message on 27-Feb-2015 that my loan has been approved for Rs. 17, 26, 166/-. Next day Agent brought sanction letter which shows Rs. 1, 26, 166/- as an insurance amount. Before this nobody from DHFL mentioned about this term and when we asked to waive it off, they said that they have given us home loan on this only condition that we have to pay for insurance. How can a Finance company approve home loan on an insurance for just Rs. 1, 26, 166/-. This seemed weird so we seeked information about this condition . "As per RTI & IRDA norms, Banks can not force to take Home loan protection plan with home loan" We called at DHFL customer care to know about this term and condition, your representative said that it is not compulsory and loan won't be affected with this, we have the recording for the conversation also, which we can show if required. Even then we requested to Agent to take lesser amount for insurance so that we take maximum amount for loan, but he threatened to cancel the loan and not ready to waive single penny from it. He refused to waive off the insurance amount and said your loan is given on insurance basis and if we will not take it, the loan will be cancelled. This behavior from DHFL has certainly scared us a lot because a person expects a lot for bank in regards with Home loan cause it connects with his emotions of getting his own home. We are educated people with knowledge of certain things regarding bank like we know that insurance of Rs. 1, 00, 000/- can not be a basis of home loan for Rs. 16, 00, 000/- and cross selling with any kind of loan is unfair. If you guys are giving loan on insurance basis then why do you do verification and analysis of financials. DHFL is very well known company and very reputed, so we expect the satisfactory solution of this problem from your side and hoping to do good business in future together. Yours truly Rishi Narang, Kumar Associates [protected], [protected] Was this information helpful? | |||
Dewan Housing Finance Corporation [DHFL] customer support has been notified about the posted complaint. | |||
2 Comments | |||
Comments
I am also in similar state. Application No 01177051. 4 Insurance premiums ( 2.34 lacs) added to my loan amount(45+2.34=47.34 lacs) without my knowledge.
I have spoken to the representative and the manager regarding this.
They are openly accepting it as cross selling but without which home loan will not be given by them.
I have spoken to the representative and the manager regarding this.
They are openly accepting it as cross selling but without which home loan will not be given by them.
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DHFL Team.