HDFC Ltd
Loan Sanction

This is Dr. Satyam Chakraborty, a resident doctor, Sawai Man singh Medical College, Jaipur. I wanted to buy a property worth 23 lakhs approx in Uttarpara, Hooghly, near Kolkata. I applied for a home loan in HDFC ltd after hearing from my colleague, who had applied & bought a similar property in Jaipur. I wanted to be sure if I was eligible for a loan since I am receiving a monthly stipend of 33180. The marketing executive Mr. Abhijit Ganguly assured me repeatedly that there will be no problem in sanctioning a loan of 14.5 lakhs which was around 8 lakhs short of the property valuation. I was directed to submit my I.T returns & all other required documents along with a cheque of 8000 rupees as processing fee which I did immediately. Relying on him we went forward with the project & paid around 10 lakhs to the builder for electricity & other amenities & made all arrangements. My file no is 603807635. The HDFC didnot report me for 2months On calling them they used to say that it was under processing. On 7Th February I was stunned to hear that since I am receiving a stipend I am not eligible for a loan. I asked them why it was not communicated to me at the outset since I was in a point of no return. Abhijit Ganguly explained to me that it is a new policy framed by HDFC which stops sanctioning loans to Resident Doctors. I want to simply ask if these employees like Abhijit Ganguly have been appointed to joke with customers & harass them. Why I was not informed at the outset that I was not eligible? I will loose a hefty sum to the builder if I don't get the loan now. Who is responsible for this irresponsibility & delay when HDFC claims to sanction loans in no time. How can policy be different in for different states of India since I find my colleagues getting similar loans on stipends in Rajasthan. It is a sheer breach of trust on HDFC's part, leave aside my personal losses. This is a a lesson for me & in future I will think twice before indulging in any business with HDFC.

Company: HDFC Ltd
Country: India
State: West Bengal
City: Hooghly

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