[Resolved]  BHW Home Finance Limited — Home loan Interest rate conflicts

Dear Vikal,

I have same problem with BHW. Kindly advice me in this matter.

Thanks

Anil

I fully agree with you, now the rate of interest has come down to 10.5%, and BHW guys wants me to pay 1% of the total balance remanning and tax on above, so they can reduce the rates from 11.75 % to 10.5%.
I am shocked and have no answers for this, pl if you have any idea pl share,

Hi All,

This is sheer harassment of the consumer. Bank people are so sluggish that they forget that they are playing with the hard earned money of someone. BHW is typically leader in keeping its customers in dark about the interest rate.

Consumer court seems to be the only option left in this case. Please keep posted if anyone has already filed case in consumer court.

I pray for all those who have taken home loan from BHW.

BHW Housing Loan — HJome Loan Account

To my dismay BHW is charging exhobirant rate of interest compared to othyer banks. This rate was increased in due course without informing me. When we talk about reversing the interest rate they say they would be charging a conversion fee. On written asking for a written explaination they are unable to answer.

The funniest part they have been calling me and saying that once the rate of interest increases it increases but when the ROI decreases the portfolio changes.

IT IS HEREBY CAUTIONED TO ALL NOT TO APPLY FOR LOAN FROM BHW. THEY MAKE LIFE HELL AFTER THEY GIVE THE LOAN. SO BEWARE.


ARINDAM MUKHERJEE
HOUSING LOAN ACCOUNT NO. DEL 004710

BHW are cheats ...
I too faced the same problem.
After all it not a bank ... Its a foreign comp.

i have not agree with your finance company because all home loan finance companies are increase the rate of interest maximum (0.5% )but your company has increased ( 1% ).Why ...?

Same here too. Still BHW maintains 11.75% rate. All banks reduced the rate. Asked the bak and didn't respond. Let me know if you guys get any info.

I have taken home loan from BHW home finance and that time they pepole have taken 12 pDC cheque from me and they pepole told me the same will used in future if you become defaulter and after one month they pepole deposit one cheque without any intimation to me and saying that this is in your agreemnt which you have signed at the time of Loan Sanctioning also their Cutomer Relationship Is very bad.

So I requested to everone don't took loan from BHW Home Finance.

guru...har koi milkar inki band baja do...media ko bulao...office ke bahar ikttha ho jao...aur aaj hi icici ne 1.5 % interest rate mein kami kar di hai. i have also taken home loan from this stupid company.since begining..i have doubt about this...but now it is true.i have also problem regarding pdc & interest rate.
always remember-----
jan shakti...maha shakti

apna haath...jagnnnath.

media aaj kal bahut powerful...jab inka business chaupt hoga to pata chalega.

I agree with you...lets call media or lets go to any news channel office and tell them what is happening...there are news channel offices in Noida, lets gather there and explain them about BHW. They have to prepare a cover story and one cover story would be enough for these guys...i'm in touch with BHW guys since last 10 days and every time they say there is no news from management side. We haven't decided. No need to say that there is no response of emails.

same is with us... main bahoot mently depress ho gaya hoon.. udhar ki life ho gayi hai..
or lagta hai ki next 30 saal tak loan dena parega...
agar main loan dena band kar doon to ye log mera flat to nahi denge muzhe this is sure.. par kya court case bhi kar sakte hain hain??
agar court case nahi hota then main suggest meri samajh mein aye aata hai ki jitna money abhi tak diya hai (12 lack) usko bhool jayoon.. flat ko bhi bhool jayoon.
- Regards,
Amit
[protected]

For me also it has become an headache because of the poor service. They say send email and never respond to email. today i asked them when every bank is decreasing the rate of intrest why you are not doing the same. They answered what your paying 11.75% is low other people are paying 12%. They are charging 14% percent for the new comers.

I am thinking of transferring load to any nationalized bank by paying 2% I feel it will still be cost effective in long term.

I think if we all agree we can go to consumer court on this atleast we will come to know of their reason of not decreasing the rate because it seems no one has got the exact reason why they do so

Hi,

I think we all are right. I don't understand the reason why these BHW guys are not decreasing intrest rate. They have intrest rate 12.5 % as highest amoung all banks. They don't have any transparent policy. For a coustomer intrest rate is different and for another interest rate is different. At the time I have taken loan they have interest rate equal to market nominal interest rate that is 10.5 %. But now as market nominal interest is going down they are not reducing their interest rate. They are just sucking coustomers. I was never in favour of taking loan from any private banks. But It was my blunder to take loan from these guys. Definitely these guys should be exposed and these guys will back on foot.

If one copy all these comments and send to BHW guys then that also will be helpful.

Regards,
Anurag

if possible then please somebody send me Delhi region Manager email id.

Hi All
I totally agree with you, BHW is not meant to serve people .Its main aim is to make money at each and ever possible way at the expense of its customers . We should all stand united and teach them a lesson .

Thanks
Kanda

Guys,

See the latest conversion that happened with BHW people and me regarding interest rate.

================================================================================...⇄
[protected][protected][protected][protected]
From: XXXXX XXXXXX [[protected]@gmail.com]
Sent: 08 December 2008 17:40
To: Sales
Subject: Re: Conversion Charges

Hi,

I have taken home loan from BHW Home Finance Ltd. of Rs. 15, 00, 000 in July 2007 at a floating interest rate of 10.75% for a period of 15 Yrs.

After that your bank has increased interest rate first at 11.75% and then 12.25%.

In the last couple of months, RBI has taken lots of steps ( like cuts in CRR, Repo Rate, Reverse Repo Rate), and due to that many Nationalized
and Private sector banks has reduced their floating home loan rates.

Also I have found that some banks are offering floating home rate at a very lower rate (like one bank is offering 9.25%, one bank is offering 9.75%, and many are offering between 9.75% to 10.5%)

So I just want to know that, is BHW in process to reduce their floating home loan rates in very nearby future?

Also I want to know, if I want to transfer my loan from BHW to any other bank, what is the current conversion charges?

Hoping some pleasant and prompt response from your side.

Thanks.
[protected][protected][protected][protected]-

Dear Sir,

We can very well identify with your apprehension regarding the high interest rates. However, in the light of the current economic scenario where mostly all Commercial banks, Pvt. Sector Banks & NBFCs are facing severe liquidity crunch, only a few banks have reduced their rates and/ or are operating at rates lower than the rest of the market; and that too only in the public sector domain.

We are a part of private sector banking community and our cost of funds is dependent on our refinance and deposit costs. We therefore, are dependent on actual interest rates in the economy to reduce interest rates.

Just for an example, the fixed deposit rates all over are up by 3% to 4% over last year’s rates. This is an indication of how high the interest rates in the economy are. Unless deposit rates are reduced, our cost of funds and therefore the customers’ rate of interest cannot come down.

In the event, the current market situations improve and the interest rates show all around signs of moderation, we will surely look towards providing the benefits to our customers.

Meantime, please provide us with your loan account number to facilitate our operations staff to get in touch with you for any needful support.

Wishing you the very best!!

With best regards,
K.H.S. Narayan
Sales Analyst
____________________________________________

Deutsche Postbank Home Finance Limited
#202, 3rd Flr.; Okhla Industrial Estate - Phase III
* khs.[protected]@bhw.in
( +[protected]Direct) /[protected] Fax)
È + 91 [protected]
____________________________________________________
================================================================================...⇄

We definitely have to do something in this matter otherwise these ppls will break backbone of middle class people.

Guys,

I started my loan of 17.5 in 2007 May @11.5 and u gusy won't believe its now 12.75%. What should i do ? Clueless.
Nitin,

As you have pasted your communication in above comment can you provide the email id of some of folks at higher post so that even i can write email to them.

Please respond.

Thanks,
Amresh

Yes, BHW is the most unprofessional organisation I have come accross in my life. They never respond to emails untill u contact them on phone.As on date they are charging 12.50% for 1200000 loan for more than 20 years and there is still no sign of reducing the same. Better to transfer loan to nationalised bank.

Yes Even i am repainting my decision of taking home loan from BHW.

I have taken home loan at 11.5 in July 2008 amount 26 Lacs. As of now 19 Lacs has been paid to the builder. One BHW fellow have taken 16 blank cheques. He dint' given any receipt to me even after asking. It is really unprofessonal attitude of the people from Bangalore office. Even one time they have released the payment to the builder without informing me.

Now i am thinking of switching to SBI. Is it possible before complete disbursal of loan amount.

Thanks

yes, i too agree its a unprofessional funding institution I dont see any customer Orientation by them.Hope to get reduction in rate by jan.At least change from BHW name will result in change in rate - we wii see...