This review is mainly about HDFC home finance, Trichy Branch. Few years back I was planning to buy a property and was enquiring about various finance options available for housing finance. The organization I worked was having a tie-up with HDFC for associate salary account and me hopping in and out of country having little time for doing home work on this naturally ended up with HDFC.
I was asked to pay nearly 12K INR towards loan processing fee including all charges, which they clearly mentioned and several times confirmed that it is refundable in case I decide not to avail loan. Due to lack of proper property matching my interest and price I did not avail the loan and later after a year I asked for refund stating I am no more interested.
On request of refund they changed their attitude and stopped responding in spite of several mails and reminders. No processing or service is rendered by HDFC except for just a pre-approval and fixing the loan limit based on salary. In spite of repeated mails, emails, calls they never responding till now even after 2-3 years.
Worst part did not stop there. I recently identified a property and for construction I got pre-approval from another service provider without any charges and started processing. Having already paid 12K I thought of availing the loan with HDFC but shockingly when I approached them I was told that I have to pay another 12K as it will be a separate application and the previous 12K which I paid is non-refundable in nature and cannot be utilized. I escalated to the HDFC grievance cell and till date there is no reply from them.
Beware of HDFC, its branch officials and particularly marketing associates will make all false promises with no business or professional ethics but instead do all cheating to make you pay the processing fee, once paid that is where all their professional service stops. If this is the case for the processing fee, what is the assurance that HDFC changes its policy later after years and say that the original documents and the property submitted with them are non-returnable in the way they are now saying non-refundable for processing fee of just 12K. Beware of these cheaters!