I called up ICICI Home Finance in Jun 2004 and their agent visited me in the next few days and collected the necessary documents to assess my eligibility and the amount of loan that could be given.
Next day the ICICI executive visited again to ask for the signed application form and the advance cheque for processing fee. When I asked for the detailed terms & conditions, he informed that these are standard and I need not worry on this issue.
Having read about such tricks by the Finance companies on Mouthshut, I insisted on my specific queries to be answered. I was informed that he would bring his senior along who was knowledeable on the subject. Thereafter for 10-15 days no one contacted me so I calledup the number given by the agent and I learnt that he had left the bank!!
This was followed by a visit by another junior who again could not answer my queries and promised to return with his senior soon. Since no one turned up for the next 2 weeks, I got in touch with HDFC Finance. There again the same story repeated itself. By this time it was Sept 2004 and I went to a public sector bank (PNB) who completed the formalities in 3 days flat.
No doubt, the private sector institutions provide home service, but their dealings are not above board. The public sector banks on the other hand expect you to visit them, but you are assured that there are no hidden costs and additions after the loan is sanctioned.
My advice therefore is to go to the public sector institutions like nationalised banks or LIC housing Finance.