HDFC Plot Loan / approval process
I just want to iterate my harassment which HDFC did while applying for the Plot Loan. I heard the all the nightmare experiences which my friend got. But still applied for the loan in HDFC (Such a fool I am !!). Before applying the loan I repetitively asked the HDFC employee for the approx. Lead time for all the approval and disbursement process. He, along with one more Third Party Group (who is Third Party to HDFC for Loan process ) promised me that at the max process will take max 30 days.
I was relaxed and accordingly promised the owner about the probable completion time. But then all the harassment started. The HDFC employee was not knowing all the documentation needed and the purpose of the documentation. This is basic thing and even I was aware of the all the documentation needed from a Loan perspective but HDFC employee was not aware.
First all the personal documents were given in 2-3 days and he verified the documents. He could not give me all the documents required in one go. He kept on asking me various documents for me and my wife which I diligently provided. A simple work of personal document verification took 15 days.
After that I submitted all the Property Verification documents. After submitting he mentioned that in 2-3 days we will verify this. I was happy. After a week, I called him about the completion of verification. Respected Sir (?) told me that BAnk has not started. Reason - Bank has only one person and he verifies the said property only once a month. I think this is a known fact in bank then why do they promise that it will get finished in 2-3 days.
I was again on Oxygen. In between we started Disbursement Document preparation and i submitted all the necessary document from my side and Owner's side. After almost 3 week's he confirmed me that Property verification is done and only 1 week time will be needed for disbursement. You simply give me date on which you need Disbursement cheque. I felt It was end to all my mental harassment which I faced in that 5 weeks time. But it was not end.
Whatever document which I gave for disbursement purpose, this HDFC employee simply misplaced it and now telling me that I have not given the documents to him. at the same time due to some System glitch at their end, disbursement cheques can not be printed for another 15 days :(.
At point I felt am I a beggar ???... Then I realised.. Yes.. I am.. This is exactly what HDFC employees will make you feel. Its not only the Loan Agent on the field, but his Office manager, Branch manager, Legal Department, Disbursement department... everyone will make sure that you are treated like a beggar..
its seventh week and still I am waiting for the disbursement... Next time if I need money, rather than going to HDFC, I will try all other banks.. But HDFC..
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