I wish to bring to the notice of our readers/members, this review which stems from my own personal experiene on the poor customer service by HDFC once a loan is disbursed.
The home loan sector today is crowded with many players including nationalised banks and NBFCs like LICHFL, HDFC etc. Any prospective home buyer may think HDFC is a good choice due to their proclaimed core competence and high profile media hype. But the truth is different. I am surprised to know that HDFC is not having any dedicated/genuine customer grievance cell operating at area, regional or even head office levels of HDFC! Can you believe?
Yes HDFC does not believe that its customers can have grievance and HDFC should record/acknowledge the grievance on receipt and look at it. However, with LICHFL and nationalised banks this facility is available and functions well. HDFC never responds nor even acknowledges any of your letters, when they do not see money for them. The branch level officials of HDFC are generally arrogant and close minded. One should be doubly cautious before stepping into HDFC for a home loan. If you can get a similar or better deal( most often, yes) from another home loan lender, please do not hesitate to turn your back to HDFC.