I want to lodge a very strong complaint against Mr. Rajesh from the HDFC bank. He has caused a lot of mental trauma and emotional distress to me. I am lodging this complaint with several other people associated with HDFC bank, so that my voice reaches the right people. I am sure after this, Mr. Rajesh from HDFC bank may not be able to try his dirty tricks with people applying for home loan.
I also want to bring to notice that HDFC bank has appointed some very incapable and unskilled Direct Sales Agents from Propmart.
The entire sequence of events that happened with me is attached in this mail. This is done to make things clear to everybody associated with this mail.
I have wasted an entire month because of HDFC bank. Since, the delay for buying the house is from my side, I have to pay an additional Rs 20, 000 to the buyer. My question is who should pay this 20, 000? Will HDFC pay for its wrong practices and employing incompetent people or do I have to suffer because of HDFC’s malpractices.
If this is the state by which banking is done by the HDFC, then I am sorry to say but very soon you will find people switching their services to a better and more efficient service provider like ICICI or Citibank. I am really feeling dejected by the behavior of the staff at HDFC Home Loan group and they way they carry out their home loan transactions.
I feel I had committed a big blunder by asking the HDFC Bank for a Home Loan. I thought HDFC Bank being one of the most premier bank may offer better services. But sincerely speaking, I think that the organization is not at all worth doing any kind of home loan transactions in future.
I feel, Mr. Rajesh(the person concerned) takes his customers for ride thinking the customers are uneducated and fools. But the fact is that HDFC Bank is not capable enough to handle so many customers. The bank doesn’t have competent staff who can properly handle banking operations with all the customers.
SEQUENCE OF EVENTS
I had applied for the home loan from HDFC Bank. The home loan was applied through a DSA called Propmart, Brigade Road, Bangalore. The name of the agent though whom I applied for the Home Loan is Mr. Lokpal.
I filled in the application form on 21st Aug 2005 during a Home Loan Mela happening at Kanteerva stadium, Bangalore.
Mr. Lokpal told me that the property I am buying is a pre-approved property from HDFC bank. There will not be any problems in the disbursement of the home loan provided all the income documents and property documents are correct. Since I am a salaried person, I had all the documents. All the documents of the house are also in proper shape. There is no problem with the house what so ever.
From day one, Mr. Lokpal from Propmart, started his lies. After I filled up the application form for the home loan, he asked me to come over to the office saying the GM of HDFC bank wanted to meet me. When I reached HDFC bank, Mr. Rajesh(a mere employee and not the GM of the bank) met me and gave me an on the spot sanction after looking at my income documents.
I just want to mention the day it is 21st Aug 2005. Mr. Lokpal could have told me the truth that he wants me to collect the loan approval letter. Instead, he chose lies, showing his character and proving again that the company which has employed him has made a big mistake.
Well, after I signed the Sale Agreement with the owner of the house, I gave a copy of all the property documents to Mr. Lokpal on 1st Sept 2005.
I specifically enquired him that’How much loan will be granted to me?’ and told him that I am going along with HDFC because they can give me 90% of the loan. He convinced me that there is no problem and for him this is a daily task.
Mr. Lokpal clearly mentioned that it is his responsibility to get me 90% of the loan irrespective of the technical evaluation done by the bank. He used all sorts of conniving terms to convince me that he will get me 90% of the home loan that I desired. And he mentioned this, not only in front of me, but my wife was also present.
Next day, I missed my office and met Mr. Rajesh(the supposedly GM of HDFC bank). From the very beginning, he showed he was very busy and was in a hurry. Rajesh said that he will take care that I get 90% of the loan amount.
I also told him specifically, that I want to sign the Sale Deed on 19th Sept 05, giving him ample time to finish the bank formalities.
From this day onwards i.e. 2nd Sept, I rang Mr. Rajesh at his office phone everyday enquiring about my loan details.
Every time, I called him, he convinced me, there are no problems in granting 90% of the home loan and it is only the paperwork that is taking time.
Mr. Rajesh sent one Mr. Ramesh(technical evaluator) for the technical evaluation on 12th Sept. Again, I had to leave the office and I got the technical evaluation done on Monday.(The worst part is that he sent this guy after 11 days of me submitting the property documents. Mr. Lokpal claimed that he will get the loan done within 10 working days)
Still, Rajesh kept telling me till 15th Sept 05, everything is fine with the bank and there will be no problem in disbursing the loan. The bank will give the loan on the stipulated date.
On Sept 15th(Thursday), just 2 working days before I had to sign the Sale Agreement, Rajesh called me and said the bank cannot disburse 90% of the loan. Their technical evaluator is of the view that the house is worth lesser amount. I immediately rushed to the bank.(Both my wife and me are working professionals and do not have these kinds of liberties to go out as and when required).
Again in the bank, he convinced me, that by tomorrow(16th Sept Friday) he will talk to his manager and grant me 90% of the loan. He kept on saying ‘Main Hoon Na’ etc. And I should not worry about a single thing. For him it is a trivial task.
Now, Friday was the last working day. So this cunning person, Rajesh, held me till the last working day assuring me that he will give the 90% of the loan. On Friday, he set up a dramatic tone and said that he had a very long meeting with his manager for 2 hours. But he could convince him only for some 87% of the loan amount.(The difference amount being Rs. 80000/-)
Rajesh knew it very well on Monday itself, that he could give not more than 87% of the loan. Still he did not tell me till the very last day. He thought he will hold me till the last day and then I won’t be in a position to say anything.
I had approached HDFC bank, because Lokpal and Rajesh had PROMISED me to grant 90% of the loan amount that I was looking at. Having visiting cards of HDFC bank also convinced me that these guys are the correct people to talk about.