HDFC Bank — HDFC denying processing fee refund

Sir/Madam

HDFC Home Loan representative offered me a housing loan with lowest interest and I submitted all hard copy of documents asked by the representative for validation. As per the direction of the representative documents uploaded in the online portal On April 13, 2023.Next day, HDFC representaive made a phone cal and informed me to pay the processing fee as all the process is completed.

Soon after paying processing fee their version changed. The representative now says that the RBI guidelines are changed just after my application submission and now my KYC documents are not meeting RBI guidelines.

Immediately I asked to cancel my loan application and refund the processing fee. They asked me to send a mail request to customer care for the same.Suprisingly next day, HDFC representaive made a phone cal and informed that they will process the loan which I rejected and asked for a refund.I had made several mail requests to customer care HDFC to process the request which they didn't respond.

Through this platform I would like to enlighten every one about the Home Loan strategy followed by HDFC:

1. First attract the customer by offering lowest interest rates and then deceive the customer as if entire validation process is completed and loan approval is pending only because
processing fee payment is pending.

2. Once the processing fee is collected then they exhibit their true colors. Give reasons as invalid/insufficcient documents or against RBI guidelines and simply delay/reject/ drag the loan processing .

3. Customer satisfaction is of least importance to HDFC and only total amount collected under processing fees matters to them.

4. If you rise the grievance to customer support, they will give you a smart reply all the time as "as per our processing fee and refund policy there is a minimum retention of Rs.3000/- + GST for all housing products.
Any amount over and above that would be refunded back to you."

HDFC you must justify

1) why are you collecting the processing fee without validating kyc documents, ? Do RBI guidelines permit to collect processing fee without validating kyc documents or is it your business model to cheat, mislead and collect the processing fee ?

2)Again I would like to retiterate the fact that your team wrongly guided, misleaded and cheated me to collect the processing fees. HDFC please refund my Loan Processing Fee for file no:[protected] if you really value the customers.

Thanks & Regards
Mahesh Kumar