I had applied for Home/Land purchase loan to purchase land in Coimbatore. Submitted all the required documents and processing fees of approx Rs11, 500. HDFC initially said they will fund only 70% of the total land cost as it is a "Land Loan". Only for "Home Loan", they give 80% for the value more than 20Lakhs. Since I said, I cannot afford to proceed if I have only 70% and was about the cancel the Loan, they confirmed that they will give 80% of the cost. HDFC did confirm the date of cheque issue and we did fix the Registration date and called the Seller, purchased the registration papers for few Lakhs and taken a DD few thousands, Also paid the seller the remaining 20% of the cost. On the day of registration, HDFC says, they will give only 70%. Also the managers said "HDFC does not encourage and provide loan for Land purchase. Because I am an existing customer, they considered for the same". The Sales executives say something and promise something, the HDFC managers, technical assessor, credit assessor does something. Never go to HDFC Sales Executives or HDFC for Home Loan. Finally I had cancelled my loan, lost the processing fee. Due to all these HDFC issues, I was forced to think about ending my life. I had cried a lot. But realized that HDFC is a cheater. They do not consider customers at all. Around 2 full days been wasted at HDFC office and no use. Now I am praying god to get the 20% of the amount paid to the seller. This 20% amount is my one full year salary.
The HDFC managers questioned me "Why did you go to the HDFC Sales guy? ". I did call Chennai HDFC Office and enquired about the Loan and they only directed me to the HDFC Sales guy. Then how come these managers are asking me this question? Why do they have HDFC Sales team then?
The HDFC managers told me that "HDFC does not encourage or provide loan for land purchase and since you are the existing customer, we considered your application". If this is the case, then why they do not tell me upfront when I submitted the document or when the lady from Credit assessment/approval team spoke to me? The lady only confirmed the amount. She did cross check with the Technical assessor before confirming it to me.
Never believe the words from HDFC Employees, officers, managers. Ask for written proof on whatever they tell you. They easily and quickly change their words.
Cheating is very common in HDFC. I am sure anyone approaching HDFC will have a some sad story to share.
0 comments