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HSBC / hsbc personal loans are cheats!

1 India Review updated:

I had approached HSBC in Bombay for a personal loan. Upon approaching them, they promised to get me the loan within two days and the lady officer gave me a list of documents which I was supposed to produce. After submitting everything I waited for the verification process.

The verification process took forever but somehow got completed. Later after 1 more week I was asked for more documents - like no objection certificate from my Uncle in whose house I was living. Then one more period of waiting after which I was asked for my Form 16.

This process lasted more than one month and finally I was informed that my loan was "approved" and a person was sent to my house to collect security cheques. Once I gave the cheques, the disbursement never came! I kept on following up with the executives and they kept saying that there was one small delay, but declined to tell me what it was. After 15 days I got exaseparated and asked for my chqs back. It has been 10 days after since incident they have neither given me the cheques back, nor have they disbursed my loan.

I would advice any sane minded person to refrain from approaching an unprofessional bank like HSBC for a loan.

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Comments

  • Ra
      14th of Mar, 2007
    0 Votes

    I have applied for Personal Loan of 2 Lacs through the HSBC bank. File has been filed by the DSA with the given address below.

    Effort Marketing.
    B1/A12 . Mohan Cooprative. New Sagar Ratna, NTPC.
    Phone- +911130887955
    +911130887929

    The final contract was signed 15 days and I have already received an intimation of the final approval. They are saying that the Pay Order is being dispatched. But It already Fifteen day that I have not received it. I have given many call to the office, but they cut the phone whenever I called up. They are ruining my life.

  • Bh
      28th of Mar, 2007
    0 Votes

    I have availed of a personal loan from your bank amounting to Rs. 2,00,000/- in the month of February from the Bund Garden branch, Pune. For availing this service, the contact person was Mr. Niresh Patel (Mobile no.: 09860606338).

    For repaying the loan amount, I have submitted a document stamped by CitiBank-East Street, Pune from where the ECS will be carried out. HSBC had requested me for providing the payment option as ECS debit.

    In spite of having the funds in this account before 10 March, which is the first EMI, HSBC has not withdrawn the amount from my account. An associate of HSBC from the Collection department namely, Mr. Sachin (Mobile no. 9881060053) had come over to my residence for recovering the same. This Mr. Sachin informed me that there is some internal problem the bank has regarding the ECS facility. I got the same reply from Mr. Niresh Patel (Mobile no.: 09860606338)..

    I would like to know why was this not communicated to me when I availed of the loan and why ECS debit was suggested in the first place. Since I have the requisite funds in my account, I am willing to repay the loan in whichever mode you prefer. However instead of suggesting how I should repay the amount, the HSBC recovery persons are harassing me and my family.

    I don't appreciate the fact that HSBC Collection associates came to my residence and called me when the problem lies with HSBC.

    I am extremely unhappy with the way HSBC associates have handled this issue.

  • Sr
      15th of May, 2007
    0 Votes

    I don't want to complain about anything i rather want to appreciate the service that HSBC has given me. I am impressed by the service rendered by one of the sales manager of HSBC Mr. Bobby Francis. He had been very kind and soft enough to handle my case though the loan was delayed but still he made every effort to keep me updated of the status from time to time.

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