[Resolved]  HDFC Bank — Unhappy with the services of HDFC - Home Loan section

I happen to take the loan from HDFC in the last year Dec 2007. Sorry to say but I had the most horrifying experience with the bank till date. I happen to read there slogan in there website "HDFC is an organisation that strives for excellence, with the twin objectives of enhancing customer satisfaction and shareholder value” , and in my personal experience this is totally untrue ,there executives don’t know to fulfill the customer satisfaction, forget about enhancing it. And I have experienced this not once but twice in a row!!

Here’s a brief of my issue.
I had approached HDFC in the month of Oct 07 for Home Loan , after selecting the Project I requested the bank to confirm whether the Project is been approved by the HDFC, so that I can proceed with all the formalities. Your sales guy after checking confirmed me that the Project is been approved by bank and I can proceed with the formalities, accordingly I submitted all the required documents with the bank. Even after submitting all the required documents , I didn’t get my file number for more than 15 days, after constant follow ups I get to know that the project was NEVER APPROVED.
Based on the sales guy confirmation I had also made the initial payment to the builder. Am surprised when the project was never approved why the sales guy gave me the wrong information!! To top it up with the problem, I was never provided the right information , sales guy…the bank people tried to avoid me than helping out. I had to personally drop in to the bank and meet the legal to know the details and he informed me that the project was on hold from long and it was never approved. Considering it as a human error on part of sales guy , I asked the bank to proceed with my loan application without property being selected. And I would have the new project selected shortly.

During the mean time my builder (initial Project) got his project approved, this gave me relief from selecting new project. I asked the bank to proceed with the loan disbursement. Since this project is in under construction state we requested for part disbursements. We had our first disbursement done
Now when the builder approached the bank for his second disbursement, the sales guy confirmed me that it would be done by 31st Jan08. However till first week there was no news of cheque. Does the courier services with in a city takes so long??? When I followed up with the bank, they said the cheque is already been dispatched and has been received by the builder. When I asked them to give me the courier number, I get a response from the executive “I don’t courier from my desk to give you the courier number, the cheque is received by builder please check with them”. In realty the cheque was never dispatched and couriered to the builder, it was lying with the bank only.

I have lost the credibility and integrity with HDFC and its people. Each and every person I have interacted in HDFC has given me the wrong information. Nobody tried to help me out, in turn I have to always call up them to get details and update. No one bothered to keep me informed, rather they showed their frustration on me whenever I have called them, they either ignore my call and don’t any courtesy to call back or give me the false information to avoid.

I’m afraid if I would like to continue my loan account with HDFC anymore!! Every experience with them is making me to think to close my home loan account.