HDFC Bank Finance — loan against insurance policy

Hi guys!

M suraj and residing in mumbai.

The hdfc finance persons asked me to take a policy of rs.1.0 lakh for a loan of rs.20 lakh on 0% interest. I purchased the policy in january 2016. Hdfc finance told me that the amount is returnable.

Again they told me to take policies of rs. 3.0 lakh as a tax amount against rs. 20 lakh i. E. 15% service tax against loan amount of rs.20 lakh.

This tax amount increased from 15% to 18% after implementation of gst. So in month of aug hdfc finance took another 3% from me in from of additional policies.

So in total i paid almost 4.6 lakh to take a loan of rs.20 lakh.

Now no reply from hdfc finance, delhi.

Guys involved from hdfc finance are...

1. Mr. Lalit mehta (+91 [protected] /[protected] / +91 [protected])

2. Mrs. Sakshi agarawal (+91 [protected] / + 91 [protected] / + 91 [protected] /[protected]

3. Neha sharma - +91 [protected] / +91 [protected])

4. Mr. Verma (+91 [protected])

5. Mr. Vijay / physical verification team - (+91 [protected])

All are from hdfc finance, delhi.

I would like to request hfdc finance to look into and resolve the issue.