[Resolved] HDFC Bank Limited — Home Loan

skgaddam02

Address:

Bangalore, Karnataka

I have applied for home loan with HDFC Limited( 51, HDFC HOUSE, KASTURBA ROAD, BANGALORE-560001PH:[protected] /41183232, FAX:[protected]
and have taken a preapproved loan for Rs 19,00,000(file no:[protected]/JT) dated 09-DEC-2010.

I have paid them Rs 11030/- as processing fee. I finalized a property in Hyderabad and entered into an agreement of sale on 22-JAN-2010 and have submitted all the required documents on 24-JAN-2010 and on 27-JAN-2010 I was told to furnish the original agreement of sale copy and I submitted the document on the28-JAN-2010 morning. I had an agreement with the seller to register the property within 30 days.

I was told on 28-JAN-2010 evening that they would be sanctioning loan amount based on the Govt value of the property and not on the market value in Hyderabad. Right from the day one when I made an application to them I told and conveyed in writing that I will be purchasing the property in Hyderabad. I requested them to sanction the loan amount based on market value and not on Govt value to which they said that their company’s policy is against sanctioning loan based on market value in Hyderabad but they can sanction the loan on market value basis if the said property is purchased in Bangalore.

All along right from the day one their executive(Name: Raghulan) was saying that they would be sanctioning the loan even if the property is in Hyderabad and at market value. Now when they are refusing to fund the property I feel very cheated because it is a huge commitment I made with the seller and I have no other way to go in this short time. I felt very depressed and felt like committing suicide but I gathered courage and decided against that.
Now since I am not sanctioned a loan from HDFC limited my earnest appeal to the highest bank and the regulatory authority(Reserve Bank of India) to take stringent action against the HDFC Limited and order to refund my processing fee of Rs 11030/-. I want to complain against such practices employed by banks and they are duping middle class citizens by collecting the huge processing fee early before sanctioning the loan. I am a middle class individual and Rs 11030 is huge amount to me.

Please do the needful in getting my money refunded and also penalize such funding agencies to set a deterrent to others.

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Aug 13, 2020

Complaint marked as Resolved

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Comments

Complainant3829861

from Noida, Uttar Pradesh

I have taken a housing loan from HDFC as it is the most trusted bank.My loan Account no is

[protected] However recently my trust in HDFC has been completely shattered due to the

following experience in the past one month. My current rate of interest is @ 12% while the

rate of interest applicable for new customers is 9.75% only. While other banks like SBI, LIC

etc have reduced their ROI in the recent time, HDFC has not reduced the same at par with

other banks.

I approached HDFC with a request to lower the prevailing ROI to which I was directed to go

for takeover. I was shocked because I have been an old customer of HDFC and have never

defaulted and even then such harsh words were told to me. I was told to pay the takeover

prepayment charge of 2%. I decided to go for takeover from LIC and have paid a processing

charge of Rs 7000 to them. Now when I am in the final stage of finalization of my loan

takeover with LIC, HDFC has again stabbed me from behind by increasing the prepayment charge

from 2% to 3%.

I am being pressed from all sides in this time of recession.What should i do now

shyam kumar Agrawal