HDFC Bank — higher interest and distribution of loan without signing the documents

Ashish Kataruka

from Kolkata, West Bengal

Address:

CF-146, SALT LAKE, NEAR TELEPHONE EXCHANGE, Kolkata, West Bengal, 700064

Account/customer id: [protected]
Registered contact details/email id: [protected]@gmail.com

Business loan a/c no[protected]
Total principle amount-rs 10, 00000
Rate of interest as per discussion was 8% (Flat)
Processing fee-rs 11800
Pf-1%
Gst-18%
Tenure 36 months
According to me my emi should be rs 34444.44 but the bank is charging rs 35404 per/month
Sir we have not signed any papers after the bank said that the amount will be rs 35404. The bank has despatched the amount without our permission.. When we spoke in the bank the concerned person said that the colleague was new and he made this mistake and after a month the emi will be reduced.

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HDFC Bank customer support has been notified about the posted complaint.

Verified Support

Jan 02, 2020

HDFC Bank Customer Care's response Dear Customer,

We submit that the loan was disbursed post execution and signing of loan agreement cum schedule along with repayment instructions in favor of the Bank for the equated monthly installment (EMI). Once the customers execute the agreement, they are deemed to have accepted all terms/conditions and agreed to abide by the same. The interest rate, EMI amount, processing fees and loan tenure were clearly communicated to and accepted by you and the loan application has been processed on that basis only. Request you to write back on the email vide reference number[protected] incase of any further assistance.

-Nadia
HDFC Bank Customer Assistance

Jan 07, 2020

Updated by Ashish Kataruka Dear Sir,
(My Business Loan no.[protected]
As per your email I will like to make you clear that I have denied to sign documents which was presented by your staff as the Rate iof interest was high.
Accounting to you I have sign the documents & agree your bank your all term and condition, So please provide me sign copy .
my registered email id [protected]@gmail.com
mobile no [protected]

Regards
usha kataruka