I applied for a home loan with Munirka Branch of HDFC Limited which was rejected giving silly excuses.
I filed the application for loan of Rs. 14.00 lacs, through a executive of HDFC Ltd. with munirka (New Delhi) for buying a flat worth Rs. 20.50 Lacs along with all required documents eg. IT Returns for last 3 years alongwith Profit & Loss accounts & Balance Sheets of my Proprietorship Firms, Address & ID Proof, Business Profile & Client List, Cheque of Processing Fees, Bank Statements - Saving & Current etc.
I stay at Muzaffarnagar (UP) and want to buy a flat at Shalimar Garden Extension, Ghaziabad. Now my application is rejected giving a lame & silly excuse that because my Income Tax Returns are filed with Income Tax Office - Muzaffarnagar, the loan can not be sanctioned from Munirka Office.
When i approached their executive, after arguing, he said he will talk to the authorities and the next day i got one more silly & lame excuse for rejection of my application saying that the recovery agent of HDFC Ltd. says that they can not recover the loan from Muzaffarnagar (UP) as its on their negative list.
Fuck off, do these guys think that after buying the flat from their loan money, i will be taking that flat alongwith me to Muzaffarnagar? and how their recovery agent will be involved to recover from Muzaffarnagar. I am buying a flat at Ghaziabad and will be shifting there after completion of the registration process, then how muzaffarnagar will be involved in all this issue. moreover the loan provider will be mortgaging a property worth Rs. 20.50 lacs against a loan of 14.00 lacs, that also with a growth rate of approx 40% per year. i really cant understand as to how the loan provider will be in risk of recovery?
dont know why they advertise so much for their loan products when they appoint such stupid officers on sanctioning posts who dont even have common sense to differentiate between genuine and silly excuses which they need to give to an educated client. Forgot to mention, that i have 4 accounts - 2 savings & 2 current with HDFC Bank and enjoy a Classic/Preffered Customer Status with them. its really ridiculous to get such excuses when you maintain so much balance and reputation with another subsidiary of the same organization. When they can get deposits from ppl from a negative area, why cant they give loans to them.
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