HDFC Credit Card Dept. started a Jumbo Loan without my Consent.

[Anir]

Update:
Last night got a mail about the insta jumbo loan amortization schedule with a 70 page pdf attachment with loan card no. and all that.
Today I called the phone banking exe. of credit card dept. and after telling to cancel it, I was told that there is no active loan on my card and that jumbo loan was closed and that I could verify it by going to Linked EMI in HDFC MyCards. I saw there is nothing showing on the Linked EMI section there.
When asked about the first interest schedule statement and the amortization schedule mail, I was told that I can ignore them.
However, I also decided to call the loan dept. and there they said that the loan is in the closing process and I should get a mail about it within 4-5 business days.

 

[dvader]

Its good that you got your loan closed. But as people have already pointed out, never share OTPs even with bank officials.

Even banks like Axis have come up with solutions where you don't need to provide OTP to a human being. HDFC has a process where an on call executive can redirect your call to IVR to for validation. ICICI does this via letting you fill the OTP in a confirmation page while the executive is on call. HSBC has IVR validation too. Never ever ever tell an OTP to a human being the P in OTP stands for PIN/Password. Do you share your PIN/Password with anyone?

Sometimes an OTP msg mentions that it's safe to share with branch officials (say account opening OTP, CC application, upgrade etc), just make an excuse to cut the call and assess the situation and try after an hour, by that time you brain will get the time to be all logical and suspicious. If one random support person was ready to give you am upgrade, so will another.

To reiterate, We don't share OTPs because we don't know about the risks, it's the damn situation we get locked in, CC Upgrade, an Offer a bit too good etc and we switch off our brains. I think anyone of us can be in such a situation, so instead of 'Dont share OTP', I advise 'Cut the call immediately and assess'. After about 10 mins of cutting a 'good deal' call your brain will automatically start yelling at you for being a dumb bastard.

 

[drvenkat]

make the full payment due and then fight for it you will get everything refunded