Hi,

Lessons Learnt:

1. Never Ever again take personal loan/any loan at HDFC especially at Bangalore, Indrangar branch
2. Make sure that ever thing is written on paper i.e interest Waivers, fore closures, hidden charges, insurance stuff blah blah...
3. Don't get biased by the initial offer they will definitely change the interest etc by seeing your need of desperation for money.
4. Top Management @HDFC is very good at "Techincal Stuff(i.e paper work)" not bothered about the Customer crediability
5. HDFC Grivenace Redressal total waste of your valuable time and phone call charges. They will response with your same complaint framing with fancy words.
6. On the bottom, becareful while taking any loan at HDFC not only personal loan don't get biased by the Salary account formula.
7. HDFC staff is very aggroant thinking that HDFC is bank is Numero Uno in all stuff. Some time ICICI was also Numero Uno becareful word of mouth & Consumer complaints will did the magic.
8. Its very difficult to get hold of the guy related to Personal Loan Issues at HDFC
9. Within HDFC you will see that loan promotions offered at different, which is ethically wrong treating same customer differently at differnt branches, thinking that they ared doing business


I took a Personal loan of 6Lakhs at HDFC in 2008(Loan A/c: 15160741). While processing the loan HDFC representative promised me that he will get me interest rate of 13.5%, No processing fee and Fore closure charges of 2%. So I went with the processing on the outset though I had a good loan deal with AXIS, but since representative told me that I hold salary account with HDFC.

Surprisingly, while disbursing the loan representative told me that he could not promised waiver for processing fee and interest rate. Since I was urgently need of money and was not in position go with other bank I have forcefully accept the 14% interest rate and 2% processing fee. This is clearly creating trap for the customer.

At the same i asked for the forclosure charges of 4% for which he said 2% waiver by default they will give to all customers 4% is only paper. I thought this might be true.

For the same when I recently went to HDFC bank foreclose the bank loan, I really shocked by the response given by HDFC Indranagar branch, Bangalore. Santosh who told himself as Customer Service Manager was very rude atleast to listen. After some verbal argument I could get some other Creidt sales Manager mobile number i.e. Kiran Subbaiah To him I called numerous times he never lifted the phone.

That time I was thinking that for personal loans promotion they will call and pester you so many times but when you close they treat you like piece of junk.

So, after again 5 days I tried to reach Kiran fortunately thank god he lifted the phone and I explained the foreclosure charges wavier on the verbal agreement thinking that thing will smooth, but again got surprise answer "Technically" since 4% on paper I have pay 4%.

I got very upset i thought I explain when I met him personally so I can explain things clearly so I scheduled a meeting next day meeting.

In the meeting I met new person name Bala after explaining very everything to him, he said then why took loan at HDFC and he started defending Representative who processed the loan.


Out of all frustration, I contacted Regional Head namely Pradeep Venkatchalam he very nice person, explained me intricacies clearly though he was very urgent in leaving. He said will try to get waiver on my Personal loan. But unfornately, he could not get waiver since the department is not directly under him, so he could get the waiver from the Mumbai Team.

I don't know why HDFC appoints so irresponsible people like Bala, Santosh and Kiran at that position.

On the whole, I endup paying 4% interest as per so called "Technical Clause".

So people Never ever take Personal loan (or) damn loan at HDFC. They say something verbally can be done, at the end they will cheating you saying Technically it should be on paper.


Regards,
Santosh

I had availed a Personal loan from HDFC and was regularly paying the EMI .I changed my company and the EMI stopped as I had to change my bank account and faxed the letter. From Feb 2006 to June 2006 they kept coming for collection telling me that the ECS is not deducted, no fax received and debiting ECS charges to my account. June I personally handed over the letter they said they will do the needful. In month of August a my EMI not credited inspite of paying in cash and having the receipt. Till Nov '06 they kept chasing for EMI no one did anything no credit of August. Nov they collected the new account and guarantee cheques for auto debit in new bank account and first thing they did that from Feb to Nov they debited all the ESC charges non payment to my account. ESC is regular from Nov '06 but no adjustment have been made for August '06 EMI and fro June wherein I have letter stamped for the ECS shift they are not refunding the charges remitted.

Can someone HELP!!! and stop these so called automated banks to play with personal hard earned funds...

I wanted to apply for a personal loan and I thought it would be best if I apply in the bank where my salary is credited, i.e., HDFC Bank. When I logged onto the site, the eligibility criteria for loan was the following for the salaried people:

1. Proof of Identity (Passport Copy/ Voters ID card/ Driving License).

2. Address Proof (Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade license /Est./Sales Tax certificate).

3. Bank Statements (latest 3 months bank statement / 6 months bank passbook).

4. Latest salary slip or current dated salary certificate with latest Form 16 .
When I had all the above four documents ready, I went and met the person in the loan department. To my surprise, he gave me a long list of documents apart from the above four. Then only I came to know that they are fooling people through they foolish ads to attract people. Inspite of being an account holder and my salary being credited in that bank, they could not help me. Some of the documents that he quoted were printout of company's home page site on the net, previous company's relieving letter, a letter from the HR of the company, etc., these are some of the things that I can remember. So this clearly shows that they make just want to make fool of their customers and waste their time.