I live in Bangalore. I bought a plot in 2003 and in 2008, decided to build my own house. I approached HDFC Home loan team and they showed their excellent Sales skills immediately. I was satisfied with the level of responsiveness BEFORE applying for the loan. While applying for the loan I was also sold with their credit card, insurance etc. They took 11k from me for charges towards processing, which was encashed in flash!
My ordeal started after that! Their legal verification process is a joke! A guy will send you an email first saying your loan is approved and a file number as reference:) Now he will ask for 101 documents and promptly collect it at your door step. If you think that you will get your loan in 10 days, as promised, you should be dreaming!
They would start sending lists and lists of documents not even related to your property and ask to even bring some dead people alive to verify the legality! I gave a particular document 2 times and just got an email again to submit it. What did they do with the document that I submitted earleir.?
I decided to go to CANARA BANK and got my legal cleared in 24 hours! What a service!
Please DON’T apply with HDFC Home loan. They should be subjected to a ENQUIRY by the regulators, and asked how much do they make just from the applications and 11k handling charges alone? Why can’t they take this amount only for successful applications like nationlised banks?
PLEASE PASS ON THIS MESSAGE STRONGLY.
REJECT HDFC HOME LOAN.