I posted a request for car loan on bank bazar on the internet and subsequently i submitted my documents to a dsa of hdfc .the dsa started by offering an interest rate of 9.5% on my ford figo diesel titanium car that i wanted to buy.finally they agreed to give it at 10% interest rate. the loan applicatin was logged in at hdfc on 11th August 2010. after this i got a call from hdfc ITO branch Delhi and a executive told me that the rate they would offer me is 11.5%. i was shocked !!. i told hdfc that i will not take the loan at such high rates - moreover it is a breach in the offer their dsa has already made. meanwhile i called up my personal banker and told her the entire story. she got in touch with the car loan department and thereafter a person from the department called me and assured of 'the best of services'. he advised me to cancel the deal with the dsa and make a fresh loan so that hdfc can extend me a much better deal. i was very disturbed because the hdfc executive didnt actually help me but was prolonging my trouble. i told him that it is the duty of hdfc to manage thier dsa's and there should not be a business conflict as they all are speaking to the same customer which is me.hdfc posed to me as aseparate business entity when they themselves have entrusted the dsa's to do thier job.i in the meantime lost around 10 days in the process. I was very disturbed that i was quoted a ROI of 11.5% which is even higher than the rack rate advertised in the public domain.at the same time there was a promotion going on on the hdfc car loan site about freebies one can have if he/she went with a hdfc-ford figo deal!! i complained to the grievances cell in mumbai both on the phone and internet . there must be some 10 odd complaints that are lying with hdfc now and i still havent got a convincing answer from them why two conflicting rates were quoted to me by hdfc. i am a classic banking customer and my salary account with hdfc is in force for the last 3.5 years . i have other investments in the bank . i want to know from hdfc why they dealt with me in such unprofessional and non transparent manner when they claim that they do the best for thier customers. morever they actually lied about the interest rates and there was not a single member in the whole team who could mitigate this matter successfully.the dsa and the bank took turns in calling me up trying to convince me that the offer extended to me is the same although i could not make out from the phone numbers who is the bank and who the dsa was.
I feel cheated at the end of the day and i need advise from whoever reads this post about how I can go about asking hdfc to pay me a compensation for the harrasment and my time that they wasted