I want to bring in your notice a cheating which HDFC Limited Sec 18 Manager/Executives have done with me while I was purchasing a home.
I was denied a home loan after committing me that loan will be sanctioned & I need to pay upfront fee cheque which was debited before my file was even touched & I was given refund debiting after debiting their service charges & I had to follow so hard for same. Worse they gave me cheque with incorrect details.
With 15 days timelines they took 45 days to tell me that loan is not sanctioned to me, & it took me another 45 days to get my refund minus their charges.
It was committed to me, if the loan is denied by me due to my docs, I am not liable for any penalty & my upfront fee will not be debited. If there is any limitation on CIBIL score that should have been communicated/asked before logging my case. I already was aware of my CIBIL score & have received the report from CIBIL before I handed over the documents to HDFC sales team & preemptively cleared all the dues before sanction.
If it is something to do with the process existing at HDFC I request them to change the same as it hardly takes 5 mins/Rs 500 to get a CIBIL score but saves a month long marathon exercise on customer end expecting for a loan & entering into financial commitments on the expectation of loan disbursement. On denial, it leads to immense stress & financial obligation.
THE MOST IMPORTANT TEACH YOUR STAFF TO BEHAVE AND DONT LIE WITH CUSTOMERS. ITS OUR & OUR FAMILY AND OUR ALL LIFE EARNINGS ON STAKE. I had already submitted a good sum to seller on hopes from HDFC loan sanction which could have been avoided on day 1 when the sales team came to pick the documents.
They would have asked for CIBIL report from customer as an additional document & taken a call on the spot whether a customer is genuine or defaulter, not suitable enough to get a loan. I was running from pillar to post to sanction loan from another bank & it has caused me immense stress & loss at work. Well as the HDFC bank employee you would say, its my problem & I am a defaulter of of a credit card which any way I have repaid before applying for loan from HDFC. I am surprised why HDFC credit card has given me a INR 3, 00, 000/- credit limit on same CIBIL score.
I have gone through very bad time in those 30 days & as its my problem can’t ask for redemption of my losses on hope. But asked vehemently for a FULL refund of my processing fee.
I have been communicated that there will be a deduction of INR 1500 owing to service charges & HDFC is so thankful that they are returning my money back, other banks don’t return a penny. I made clear that I have applied loan from HDFC bank & not from any other bank & no one has any right to forfeit my money for no fault of mine.
I had enough from dealing with HDFC team, avoiding my phones calls, deferring to talk on next day & hanging up. No one has ever behaved with me in this way. I am a working professional & expected some professional behavior from the HDFC team.
Besides raising this case to banking ombudsman/consumer court/top management of HDFC Ltd no body reverted & to my surprise the refund cheque of upfront fee was given after deducting Rs 1500 & THAT TOO WAS SHARED WRONG. THE A/c Number mentioned was incorrect & they would not send a new cheque until this old one is returned & they wont come to my office in noida to take it. I had to to go all way to Munirka office & wait for 6 hrs to get my refund that too with deduction with NO FAULT OF MINE.
AND AFTER ALL THAT I GOT A CALL FROM SAME MANAGER FEW WEEKS BACK - APKA LOAN HO GAYA, NAHI TO HAM KAR DETE HAIN. IS BAR HO JAYEGA, LAST TIME KUCH PHAS GAYA THA.
THESE GUYS ARE REALLY AUDACIOUS
Disclaimer: The HDFC Guys I am talking are not DSA’s but HDFC LTD employees & I have exhanged mails with them on regular basis. 90 day exercise & result cipher. The loan was rejected on CIBIL Score which was communicated to team earlier. there was a CC default(another story, will post it on mouthshut sometime) which was cleared & then the docs were shared with HDFC team after telling them before sanction.
Just be beware of fraud people. They lie everywhere.