Beware! HDFC ‘INSTA’ Loan Affects Credit Card and Limit Badly

HDFC Bank is doing ridiculous activities by sending SMS from unknown numbers to its customers offering instant loans without any stuff and blocking credit cards, lessening credit limits, etc. Recently one of my friends gone through with a most awful surprise by HDFC Bank; by sending SMS through way2sms.com portal, instant credit to her account, blocking the credit card, lessening the credit limit; and at last conferring as insecure and stupid to her. What a misery?

People already annoying by a lot of fake calls asking about credit card details and looting of money directly from their account; however nowadays the banks chosen a different trick to loot customers. The matter is very simple and frank. All this begins due to lot of bankruptcies. And the innocent people are targeted on this regard. Here I am putting some real facts which stumble upon how HDFC used to do!

Using way2sms portal instead of own: HDFC is a big bank and must have its own messaging tool; then why it uses way2sms.com to send messages to its customers? My friend got a message from way2sms portal saying ‘Get instant 25k loan without any document, and reply INSTA to 5676712 to get immediate loan’. Using way2sms portal instead of using their own tool means it’s a new way of cheating customers.

Unclear about the rate of interest or anything: There is nothing mentioned in that SMS about the rate of interest or anything which could affect the customer’s account/credit card/credit limit/any other charges. And the misfortune is my friend replied to 5676712 by typing INSTA and received an SMS as ‘Dear Customer, your request for Insta Loan on HDFC Bank Credit Card has been received and will be processed within 3 working days subject to meeting terms & conditions. TC applies.’ Where are the terms & conditions mentioned; who knows about and who’ll inform to the customer? The answer is simple; NOBODY. It’s just a kind of cheating to customers without informing or educating the rate of interests, other matters, and statutory things.

Amount credited to a/c without informing to customer: And very short time i.e. within 24 hrs INR 25,000 was credited to her account without informing/asking/educating about the ROI and other terms and conditions.

Credit limit blocked for 18 months: Then she got to know that her credit limit blocked for 18 months until the amount 25k was paid. Then she asked the customer care executive to cancel the amount as she don’t need any more.

Wrong / bogus information by customer care executive: She asked the executive to cancel/revert the amount and it was said by them that the process could be done within 3 working days and she will not been charged anymore as the request was raised within 24 hrs; against which she received a ticket no. 15154633406 (Called to 9949493333 and spoke with Sridhar) (Call record available).

After a day she received a call from the HDFC Bank Customer care as her request cannot be done and the amount cant reverted once after being paid. It is really absurd that how HDFC is doing everything, sending SMS, crediting money, charging interest and blocking credit limit; but they can’t do this thing! How they could be profited, eventually!

She made a call to HDFC customer care on no. 9949493333 and first spoke with Sujata and then Lata (the trained executives of HDFC bank) who strictly denied cancelling this loan; even as she said the money was not used at all and the bank can revert (Call record available). If it can’t happen then why Mr. Sridhar confirmed that it can be done within 3 days; as per reference no. 15154633406 (cited above)

Points to be noted:

1. The whole thing says the HDFC BANK simply wants to cheat its customers by harassing and robbing money from them by false SMS and activities.
2. How could different executives of a company provide dissimilar conclusions and assurances?
3. HDFC simply act as a robbery mechanism as fraud techies do.

Beware! HDFC ‘INSTA’ Loan may affect your credit card and credit limit badly and very badly. Don’t trust!