I have had an extremely satisfying experience with HDFC Housing Loans during my 6 years interactions with them. I am no way connected with HDFC or its group and am not pushing HDFC. This is a purely customers perspective. The process of taking the loan itself was very very easy. The customer service agent attached to me was very helpful throughout. I think we(I took a joint Housing loan for a new apartment with my wife) went to HDFC office just once to sign the papers, For everything else the customer service rep came our house(even at odd hours such as early morning / night and weekends) to collect documents / information / get our signatures.
The service on the loan has been outstanding. Any / all my quirky queries / questions were clarified politely and almost immediately at ANY of the branches and over the phone also. Only thing is sometimes I had to wait in the queue on the phone line for extended periods.
I was able to get anything such as IT statement, outstanding balance, new amortization schedule after any prepayment at any branch within minutes. Even when I was closing this loan and switching to another bank, they were very polite and helpful and came up anything I required such as statements, document verifications, list of documents etc promptly. Anything which would take time, they clearly mentioned the same and gave me a date by which it would be done. And they stuck to the date!
The website online account is great and gives you all information. It is easy to use and most of you requirements can be done over web(eg account statment, IT certificate / balance etc)
They why did I switch over? Unfortunately this was due to the cutthroat competition offered by other banks early this year 2009, wherein Public Sector banks offered a very low interest rates(even to switch overs). Considering the economic scenario and my financial status(I am in the IT field). I figured out that even by paying HDFC the prepayment charge of 2%, and the processing fees etc to the new institution, I would be ahead of the game. But after a harrowing experience with SBI(this is another story which I will reveal in another review), I realised that Quality comes with a cost, and to maintain the level of service given by institutions such as HDFC, they are definitely handicapped by their overheads. Sometimes I regret having switched over since the experience of horror of going thru the formalities involved with SBI.