HDFC Personal Loan
HDFC Personal Loan

I had recently applied for personal loan and was rejected after week long process of documents collections, many verification phone calls at office, home, reference and physical verifications at office and home. The reason given by current day faceless banking phone executive is that my name appears in CIBIL. Any further questions goes unanswered and some times get imiganary replies. My point is if banks take only CIBIL score/reports for loan apporals, why not first ascertain this first before collecting documents and other procedures. This will surly save valuable time and efforts of every one involved.

High time RBI sets some standards for financial institutions responsiblities towards its consumers. RBI should make it mandatory for Banks to explain why a particular application rejected based on CIBIL reports. Right now consumers are caught between two monsters CIBIL and Banks who are not answerable to anyone and consumers in their individual capacity are helpless.

Company: HDFC Personal Loan
Country: India
State: Karnataka
City: Bangalore

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