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HDFC Bank home loan: promised 7.45% rate but no sanction letter, then pushed insurance and full ₹11,000 fee upfront

HDFC BankPC-2026-03329Banking & LoansAnonymous ·
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I recently applied for a home loan with HDFC Bank Bank, expecting a straightforward, transparent process. What I actually experienced was a frustrating lesson in how misaligned sales incentives ruin customer trust. Here is what happened: I reached out to customer care and was assigned a sales rep, Manjanna N. In our first conversation, he confirmed that my interest rate would be tied to my CIBIL score. After I submitted all the required documents, he told me my rate would be 7.45% post the recent repo rate hike. However, no provisional or conditional sanction letter was provided. Instead, I was asked to pay 40% of the processing fee upfront to get things moving, which I did. Once the documents were processed, I asked again for the official sanction letter. That’s when the goalposts moved. Suddenly, he claimed the system rate was actually 8%, and he could only recommend 7.45% if I opted for property insurance directly through HDFC or their approved third-party partner. On top of that, I was asked to pay the remaining balance of the processing fee upfront before getting any transparent sanction documentation. When I escalated this to his manager, Mr. Karthik, the story changed again—he claimed processing fees are non-negotiable at HDFC, directly contradicting what the sales rep told me. I decided not to pay the rest of the processing fee or buy the forced insurance. As a applicant with a strong CIBIL score, all I wanted was basic transparency from day one. It shouldn't be this difficult to get a clear, written sanction letter confirming an interest rate before asking a customer to pay thousands in non-refundable fees. By chasing a quick ~₹11,000 processing fee and trying to force an insurance cross-sell, the bank walked away from a long-term asset that would have generated roughly ₹90 Lakhs in interest over a 15-year tenure. I hope HDFC Bank looks into these operational gaps—because this is how you lose high-intent, creditworthy customers. #HDFCBank #BadCustomerExperience #HomeLoans #Banking #LackofTransparency

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  1. Case filed

    Filer · 3 Nov 2026, 7:50 pm

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