Dewan Housing Home Loan
Dewan Housing Finance Limited (DHFL) came into being in the year 1984 with a soul motive of providing housing finance i.e. home loans to the middle and lower income groups. DHFL helped these groups, which are marked by other financial organizations as high credit risk, to realize their dream of own house. Dewan housing home loan has given a new dimension to home loan segment of the banking services. In its journey till now, DHFL has built up business portfolio with products like Home Loan, Home Improvement Loan, Mortgage Loan, Home Extension Loan, Plot Loan etc.
Dewan Housing Finance has an asset base above Rs 3580 crores. It is growing at a rapid speed and gaining the trust of the customers. It is helping them, when there is no one to support them, by providing them with finance with which they can buy a property. To buy a property is not only an investment for them but it is an extension of their individuality.
DHFL offers Home Loans to individuals, corporate bodies, associations of persons and co-operative societies. DHFL offers maximum housing loan of Rs 1 crore. Home Improvement Loans are provided to individuals for the repairing and renovation of the home. The maximum repayment time is 10 years or the age of 60 years or the retirement age, whichever is the earliest.
DHFLs ‘Sampoorna Rakshak’ insurance plan arranged in connection with Cholamandalam MS General Insurance Company Limited covers all the losses of your home due to fire, earthquake, explosion and implosion, bush fire, strike, missile testing, lightning, impact damage, aircraft damage, riot, malicious damage etc. another insurance plan is there called ‘Amar Chhaya’ which covers repayment of the outstanding home loan by the SBI Life in case of an unfortunate death of person who took the loan. Another unique product of the DHFL is ‘Saksham’ which is specially designed after thinking about the senior citizens. It includes payment of a fixed monthly annuity to the individuals based upon value of the mortgaged house or property.
Moreover, 111 service locations and 54 branches have allowed it to do their job in a best possible manner. Its Customer care desks treat each customer with respect and dignity and replies to their queries very humbly.
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If you have no reason to commit suicide,take a home loan from DHFL- the friendly home people.They cheat you at every turn and soon you look to yourself a helpless fool.When they come with the offer letter,it is roses,roses all the way:competitive rate of interest,no hidden charges,no prepayment penalty.transparency and what not. Once the deal is struck and you sign a few loose sheets,things take a U turn.They don’t mean what they say and they don’t say what they mean. Suddenly the interest rate goes skyward never to come down, prepayment becomes a suicidal affair :penalty charges,surcharges,hidden charges and pestering calls, make you mad if you still manage to remain sane. You might ask for a statement of account. The friendly people will never respond to your request. You might contact them over phone. The friendly people will blame it all on PLR/BPLR conundrum.You might wonder why even drastic cuts in them doesn’t attract their attention.That proves that you are a fool.You might think that the friendly people are keeping their rates in the clouds to help recover their bad debts.Now it is clear that you are mad.The present rate is only 14.25%. At every rise in interest, the EMI is increased and it is kept a secret until a substantial sum becomes dues. Then begins a flurry of phone calls demanding immediate payment with penalty charge of only 24% monthly, plus additional interest, the rate of which is always a mystery.You might want to foreclose or to switchover.That is thought crime and it is because you are mad. Penalty, Surcharge and a whole lot of monsters rush in with the friendly people. You might think of legal remedy.Not easy.That is to be filed only in Bombay as per the loose sheets. The trap is very well set. While you languish not knowing what to do, you have the great pleasure of being advised by Mr.S.Wadhwan if he finds time to give lessons on loan management through the media,free of cost. Wolves appear in sheepscoat and devils cite scriptures for you. It is rumoured that regulatory mechanisms are there up the sleeves with the govt. Not sure. If at all such luxuries are there, it is quite unlikely that they will ever become operative in this beautiful country. And if they do by mistake, by then the friendly people will have made your home your tomb: at no extra cost.