Issues Faced:
Unreasonable Delays:
It took nearly three months to get the loan approved. This delay caused significant planning and financial issues for my construction schedule.
Unethical Pressure to Purchase Insurance:
Your staff repeatedly pressured me to purchase an insurance product as a condition for loan approval. I felt this was coercive and unrelated to the loan process.
Forced Account Opening:
I was forced to open a new HDFC bank account, supposedly as a requirement for the home loan. I fail to understand why this is necessary, especially as I already have an existing loan relationship.
Loan Merging Without Consent:
HDFC has merged my previous plot loan with the new construction loan without giving me clear prior information or consent. I was not told about additional payments required because of this merger.
Lack of Clarity on Documentation:
I was never provided a clear checklist of required documents. New requirements kept surfacing repeatedly, which created confusion and delay.
Disbursement Delays Despite Approval:
Although the loan was approved in mid-June, there has been no disbursement even after 15 days. This has caused significant disruption to the construction timeline.
Unjustified MOD Charges:
During the disbursement process, I was asked to pay MOD(Memorandum of Deposit) charges on both the old and new loans. This is highly unfairthe charge should apply only to the new loan. Your staff is insisting on this unjustified payment, adding to my financial burden.
I am now help less.