[Resolved] HDFC Bank — loan tenure extend request from 1 year to 5 years

mdshadab13

from Chandigarh, Chandigarh

Address:

New Delhi, Delhi, 110025

I have taken 10sec instant loan on 3rd feb'18 amount of 3.5lacs tenure for 60months but due to some technical error it is selected for 12 months tenure period and loan amount was also disbursed that means now i have to pay 3.5lacs in 12 months.

So i want to inform you that i am not at the condition to pay this loan amount of 5years tenure period in one year. I can't pay 30k emi per month because i have so much responsibility on my shoulders being a single source of earning in my family.

So, kindly extend my loan tenure period from 1 year to 5 years otherwise this is not possible to pay a single emi of this huge amount 30k per month. Some how i managed to pay two emi from my savings but now it's not possible to continue.

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Oct 26, 2018

Complaint marked as Resolved

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

Sep 22, 2018

Updated by mdshadab13 Loan No. 5060510

Verified Support

Sep 24, 2018

HDFC Bank Customer Care's response Dear Customer,

We would like to state that the loan was disbursed post-execution and signing of loan agreement cum schedule and issuance o[censored]nencashed security cheques 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. Kindly write to [protected]@hdfcbank.com for any clarification.

-Manoj
HDFC Bank Customer Assistance.

Sep 27, 2018

Updated by mdshadab13 Hi,

I do agree that loan was applied online but I just wanted to understand, do you have any mechanism to define the eligibility of the loan amount and tenure respectively as per the capacity of customer??

Or you just give loan to anyone without taking measures of these points..?

In my case same thing happened
My salary is INR 41000 and my monthly expenditure is INR 37000, and monthly emi of this loan is for one year is 31000 .
So no matter how much pressure you put on me I would not be able to pay this much EMI with this tenure, so my request was increase the tenure to 5 years so that i can pay the EMI .

I don't expect this kind of mistake from a nationalize bank.

I have already sent so many mail to HDFC support as well as (MD) Aditya puri to extend tenure of loan but didn't get any resolution. If you want that mail I can forward to you.

I have kept my all points, now it is up to you how do you help me to increase the tenure because this mental trauma will not help neither you and nor me to reach any conclusion.

Regards,
Shadab Alam