Hello team,

I have planned to take a home loan from Indiabulls Gurgaon, Haryana. I went to the branch and given my all papers and completed all other formalities. After 10 days they said we are ready to disbursed the loan amount please bring rest of the document with checkbook. I went there and given them all EMI checks. Day before yesterday of this activity they took a 1100 Rs processing fee check from me and en-cashed it from my HDFC account even they told me earlier that we will not en-cash my check until they disburse the loan amount, and if any reason they will not able to provide loan the processing fee will be refunded. On the disbursal day they said we need 1 more day for some processing and we will call you tomorrow and give you disburse amount check.
I was very happy and thinking about my new house. Next day i didn't get any call and so for next week. I called the same executive and asked for the check. He said processing is taking time and we will provide you and update next week. After 15 days I got a call from Indiabulls head office and they told us that due to some builder - bank agreement they are not entitled to give me a loan. I was sad and thinking to apply in other bank home loans. I asked them to give me back my processing fee check, but still i am waiting for it and no further communication from bank on it.