Suggestion : never go for loan from Indiabulls. I had an awful experience while I applied loan with Indiabulls Hyderabad for buying a plot and want to suggest this to everyone.
I had been made to wait for more than 2 months to disburse the loan, even though all the papers were in order.
They kept on asking one document after another and I kept on providing . While I got the first call, they told the loan would be sanctioned in 3days. Then after I gave the papers and processing fees , the nightmare started. Right from the Manager to the indiabulls employees , are equally awful.Maybe it was my bad luck that I had to interact with these kind of guys .

First they told , it is 10.5%, later without even informing me, the sanction letter has come with 11%.
Even at disbursement time, they imposed an insurance of Rs. 25000 , I somehow reported this to their central office , as they were not disbursing the amount to the builder, without me paying this money to the third-party insurance company. They has caused so much stress for 2 months as they know the customer has no other option.
Somehow At the end ,  the payment was made after 100's of calls here and there, and talking to their central manager who sorted it out., and huge late fine to be paid to the builder.

I am reporting this to the real estate community just to keep everyone alert about the nuisances of these guys as they are taking the customers for granted.it was as if they're doing me a favor offering me the loan . They must understand the fact, their business is going on because of genuine customers requirement and they are getting it back with 10-11 % interest.

 I have also decided to report this also to RBI .

I suggest never  go to indiabulls for your home loan requirement.

Kindly bring up all your good/ bad experience in this community for future buyers.
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  • Thanks for sharing.

    I was wondering if i should approach them along with many other lenders for a home loan but now i know better. Thanks, again.
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  • Shiladitya

    Thnx for raising the alarm !
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