I had taken a SAMRT HOME LOAN from HSBC, ANDHERI (East) Branch, in Feb based on the good service and understanding by the Branch Manager Mr. Rahul Verma and Loan Office Ms. Laxmi.
All was well till, normal loan processing was done. Mr. Rahul and Ms. Laxmi helped me very well.
Later the Loan was handled by the Homeloans department and there were no clarifications/ help available.
The Benefits which were projected, by charging a additional amount in the EMI - were not passed on to the Customer and thus the whole Scheme - was just operating as fooling the customers.
I was told that as Part of SMART HOME LOAN - you pay additional amount in the EMI, for more service required in handling the Smart Home, and from the Fixed EMI - your Interest and Principal will be deducted on a plan -
The Amount Parked in Home Loan Account - will call for the Interest Reduction from EMI.
EMI Amount, thus goes more towards the Principal if you are increasing your EMI, you get more benefits to reduce the Principal faster.
Since I noticed and followed it up with HSBC and with some or other reasons - they are just delaying the things till date - even the complaints at higher levels have not really helped.
Once in a month someone calls, agrees for the mistake and assures for the Correction and Report for the same and it never happens. I was told to Visit the Branch - where I wasted hours to meet the Person / Branch Manager / and still no Results - Branch says - Loan dept can help - Loan dept says we will send the papers to your branch or to you and some NonSense Statements - Proposed payment Schedule etc. is sent.
I am sick of this and going to launch a complaint with Banking Obdusmen and Consumer Forum.
Any help in this regards is appreciated.
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