I have a savings account with HSBC Andheri, Mumbai branch. It is a salary account opened by my company where I work.
I recently applied for a personal loan of 50, 000 Rs. I personally had to visit their branch as their call center, which I had contacted had mentioned about someone coming to me and no one approached me for a week. I provided all documents, filled up their forms and after two hours they promised me that the loan will be transferred to my account within 10 working days.
The 10 working days passed and the call center (getting through the line is tedious)continued to assure me that the loan will come soon. Meanwhile the day of the requirement of money came close and I made alternate arrangements. After another week someone called me to confirm my residential address, which I did confirm.
After few days the person at the call center told me that my residential address was not verified. So I sent a email to HSBC. The loan officer contacted me and told that I was availing of home loan from another source (hmmmm.. not HSBC) and they need proof for the EMI paid every month.
I informed them that this fact was mentioned in my IT Form 16 copy and also that the EMI was being paid from my account with HSBC. Another email to HSBC. The loan department again assures me of my loan within a week. After a week the call center assures me of action and loan section again wakes up and contacts me. They assure of loan within a week and after a week again I remind the call center. The story repeats and after 2 months for a personal loan of an amount equal to my one months salary, the loan department calls me to the branch to submit the post dated cheques and sign more documents.
I do that and after another 10 working days the money is transferred to my account. Phew! I am sure the reader must be tired reading this. Imagine what I underwent with HSBC services! Never again a loan from HSBC.
What HSBC does not realise is that ’’A Loan delayed is a Loan denied’’