Serious Complaint against HDFC car loan
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Dear SIR/Madam,
I am a new customer with HDFC and all the salaried accounts of my company (over 100) are with HDFC. I would like to file a complaint with respect to their car loan processing. I am also submitting this complaint on various consumer online forums, so that others can become aware of their sub-standard service.
As of my background, I am a graduate from IIT Bombay with All India Rank 95, then worked at Bangalore for 3 years, then did Masters from York University Canada, and now recently joined as Principal Engineer (senior post) at a private company in Bangalore.
I applied for loan about two weeks ago with documents as requested by HDFC agents in Bangalore. 2 days later, they informed that my address proof was not valid (because my rental agreement was less than 3 months old). As per their suggestion, I applied for address change with HDFC bank so that it can be taken as a valid address proof. But that too didn't get changed over one week. So, then I submitted a copy of my phone bill as address proof, which was accepted. Now, they are asking for my FULL offer letter, because I have had no salary for last two years (because I was studying). I told them, that I can give a few pages, but not the FULL copy (as it will be a breach of confidentiality), but they are not accepting it. Note that previously they said that a copy of my pay-slip of first 10 days (through which my salary break-up can be easily deduced), statement of other bank (ICICI) and my previous Form 16s would be sufficient.
We had already discussed all the documents required RIGHT AT THE BEGINNING (two weeks ago), which I had duly submitted, but still more documentation is required, and that too which is highly confidential. I am extremely angry at the un-professionalism shown by HDFC employees. Because of them, my car delivery has gotten delayed and still no sight of processing. Everyday, I am travelling by auto rickshaw and have to handle their haggling every morning and evening. Everyday, I am coming to office late because of this. Everyday, I have to synchronize with their agents for 20-30 minutes on latest status, and then synchronize with the car dealer for another 20-30 minutes. Everyday their agents keep asking me to wait for 1 more day, for last two weeks!
I have lost tremendous valuable time, money and emotional energy because of this. And all of this for a car loan that is less than my 2 months salary....
I do not want HDFC car loan anymore, and will not engage in any other activity that I had planned with HDFC (like demat, PPF, FD etc.). I will also recommend other employees in my company (over 100), all of whom have a salaried account with HDFC for not engaging with HDFC bank for other activities.
Romil Jain
Aug 14, 2020
Complaint marked as Resolved 
HDFC is not responsible, as if the cheque bounced then it is not a fault of HDFC
Think like this, assume if you are the receiver(1st person) in place of HDFC and HDFC(2nd person) is the giver in place of you.
If amount is not received to 1st person by the 2nd person then 2nd person is responsible for not making payment.
HDFC has issued a credit of 2 Lakh FD on basis of cheque and the cheque bounced for whatever reason may be in that case they simply cancel the FD that is by rule.
regards