HDFC Personal Loans
Issues with Personal Loan Top-up

Dear Sir / Madam

I would like to file a complaint against HDFC Bank Ltd, that I have faced so many issues with HDFC personal loans.

I am Muthuraj from Chennai, working in a private company. I took the following personal loan from HDFC bank Ltd., last year (Jan):

Loan Type: Personal Loan

Bank: HDFC

Branch: Selaiyur

Acc No: 15758841

Amount: 2, 42, 863.00 INR

Interest(%): 16

EMI: 6, 080.00 INR

Duration: 5 years.

I was requested to submit 60 cheque leaves of 6080 INR for 60 EMIs (as my salary account was with SBI Bank).

On Oct I got a call from T Nagar branch HDFC representative (named Anand) for an additional top-up (higher interest rate 18.5%) of my existing loan. I had been said by him that additional top-up won't effect my existing loan, but the higher interest rate will only be applicable for the top-up amount. I believed in him and applied for the top-up. After sometime, in Nov my top-up got approved and I was informed by the same person that my existing loan account was settled and closed with and a new loan account is opened. Here are the details:

Loan Type: Personal Loan

Bank: HDFC

Branch: T Nagar

Acc No: 17710115

Amount: 1, 06, 739.00 INR (Top-up) Amount of existing loan account closed

Interest(%): 18.5

EMI: 8, 456.00 INR

Duration: 5 years.

For this also I was requested to submit 60 cheque leaves of 8456 INR for 60 EMIs (as my salary account was with SBI Bank). After this only I realized that I was cheated by the person for his own opportunities. I thought it should be a different loan and different EMI. I called him many times and asked him for the clear details of my loan. He didn't give me proper explanations. I was forced to accept the offer as the amount was already credited to my account, and also due to my urgent financial needs.

1. Could you please take necessary actions to control these activities by HDFC representatives and management?

Another issue is that they didn't yet send me my cheque leaves submitted for my first loan (#15758841). 11 EMIs completed, so 49 cheque leaves should be returned. I called HDFC Customer support many times (both Dial and Online support), I didn't yet get solution to my problem.

2. Could you please take necessary actions to advice HDFC Bankers to resolve my issue?

Thanks in advance for your help. I am highly disappointed and unhappy with HDFC services.

Regards,

Muthuraj L

muthuraj (dot) muthucse (at) gmail (dot) com

91 98 94 71 78 56

S2, Parihar Nivas, Janakiraman Nagar 3rd St, Perungudi, Chennai - 96.

Company: HDFC Personal Loans
Country: India
State: Tamil Nadu
City: Chennai

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