HDFC Car Loan

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Category: Automotive

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India

HDFC Car Loan Reviews

Karthik s October 6, 2009

Cancellation of Car Loan

I would like to inform you that I have cancelled my Car Loan Account No. ----------- due to personal reasons.

The same information was discussed with your office bearers and we accepted mutually that the Loan account will be cancelled and I accepted to pay the cancellation charges.

However, I was surprised to notice today, the ECS was not de activated and there was Dr. charges to my account, which is not unacceptable as I have already cancelled my car loan account well in advance to due date, this is going to affect my Credit ratings, which is very important for my Financial credibility and unacceptable ignorance from your personal.

I am not going to take any further action on the negligence from your official, provided this is sorted out at the earliest with no further damages to my account.

Please ensure this is sorted as soon as possible in best of our interests.

Yours truly,
Karthik

March 15, 2007

Overcharging after disbursement!

I recently got a shock 0f my life when the people i trusted for business turned their version, even now i see the discrepancies but they cannot justify the claim. I had taken a quote for a Car loan from HDFC representative who is a part of the showroom. (Dt 17 feb 2007)

I had been put a lot of pressure to log a file so that the interest rates for the loan shall be locked , hence i did it asap. On approval of the loan amount i received a sms of the loan account number and call stating that the loan account has been created. (23 feb 07)

Now comes the pressure for disbursement, I was not fully ready with the down payment hence told them to wait for some days, the reason i was being pressurized was to change in rate of interest and stamp duty & processing fee.

Disbursement instructions where given on 1 march and after 10 days when my car is ready with the registration number, the representatives call me up to say that i need to cough up with a additional Rs. 3400/- due to change in bank interest rate. Stamp duty n processing was promised to 1400 now the new rates are 2100.

When i contacted the bank, the rate of interest applied to me is 11.50% while the representative is demanding 14.75%.

Hope someone can help me with this kind of banking terminologies.

Abhijeet C