NRI's watch out, if you are going for housing loan with HDFC, please be careful. I sent them majority of important personal documents (which demands privacy) for home loan in Bangalore (HDFC KASTURBA ROAD BRANCH) initially for approval. Upon following up for around 1 month, I did not get any official update from them. I called their representatives several times and verbally assured me that my home loan is approved. But at the the end I found that my important documents were returned back to third party which I came to know after few days. I came to know from third party that my housing loan was rejected, something which was never communicated to me from bank. My concern is not about the getting home loan as there are plenty of option, But my concern is that my documents, including vital data, employment history, passport, pio and other papers, which demanded privacy and secrecy, was ridiculed by Bank staff. My papers were handled from peon to sales staff to manager and other colleagues of sales office inside and outside bank. Copy of those documents were returned back to third party (in my case builder's representative) who was not authorized to receive my submitted documents. This has happened due to the fact that the bank failed to give me approval for my loan even after one month (something which they promise 4 days) for which I complained to higher authorities of Bank. Upon knowing that the concerned bank in Bangalore started playing with my documents, I also fear that my vital data would be misused by bank. I am warning every NRI community to know before handing over important documents for home loan. You are probably not in safe hands. It was not that I was not eligble for loan, With given back ground and financial documents of mine I can command million dollar loan any where in world in a matter of few hours.
NRIs know the reality of HDFC bank, if not in general but majority of their workforce is drawn from poorly qualified college students without proper training. Their representatives have too much curiosity of your life and personal details. I have written to Chairman of HDFC more than a week ago, but have not heard from him.
I must remind that better be watchful while dealing with HDFC, THERE IS NOTHING CALLED PRIVACY OR SECRECY IN THIS BANK. YOU MIGHT EVEN ATTRACT THREAT or RISK TO YOUR LIFE FROM SOMEONE OUTSIDE BANK who would have taken tips from your financial documents by stealing data with regards to your background and bank balance.
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