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