My name is Murali Krishna Vemuri, and my loan account number is: 610799016 at HDFC Ltd. I applied for this loan in the third week of December 2013 and ever since I applied for this loan, the people from HDFC Ltd keep telling me stories . "Your loan is approved", "Your processing is completed" and "Your disbursement is ready" and so on. These shameless idiots have already taken the processing fee more than a month ago but processed nothing. If the disbursement is’ready’ why is that nobody even knows the status?
On top of everything, there is no complaint mechanism, no grievance redressal mechanism, no contact details of vigilance officer on their website. These idiots think they are doing a favor to customers; in reality, because of the customers they are in business.
If the disbursement is really "ready" why is that it is not disbursed? They don’t do it. Actually they want bribes from the customers.
These are my specific inputs on this:
(without bribes):
Home loan processing: VERY SLOW. they will take at least 1 month.
Loan approval: 45 days to 50 days.
Actual disbursement: Sorry, never happens.
(with bribes to the branch managers):
Loan processing: 1 week.
Approval: 2 weeks.
Disbursement: 1 day.