Really wonder when the RBI will crack down on Private banks and Financial Institutions on the huge and unfair penalties they levy on unsuspecting customers! HDFC ltd being among them . High time RBI pulled them up . and guess what -when the rate increases HDFC will be among the first to increase the rate and when the rate reduces HDFC will resist it in every way possible .and dont get started on the eager greedy way they will levy penalties instantenouesly .when you call them up to get clarity - they will pathetically parrot out that their hands are tied and its all done by the system - they are so helpless and its not their fault and obviously only the customer’s fault!
My account is with the HDFC LTD - Andheri Kurla branch, Mumbai - I have the EMI linked to my bank account - with multiple EMIs I wasnt aware of the account being 9000 short nor was there any alert sent - 2 days(on a sat) later I got an sms alert- I immediately informed HDFC as I wasnt aware of what the actual issues was since I couldnt access the bank account - they responded after 2 days . They levied a penalty of 800/-!for this couple days delay - when I requested them to look into it to reverse this or look at a reasonable amount - on the contrary started arguing about an 18% penalty etc etc pathetic!
When questioned their pathetic excuse they dont work post 1 pm on Sats hence could not respond but guess what penalties will be levied on the customer irrrespective if it was a weekend or the fact that HDFC didnt even bother to respond and responded 2 days late!- why? obviously it always customer’s fault - HDFC is not to be blamed in any way - HAH!
So beware of HDFC and their charges & penalties!