[Resolved]  HDFC Bank — Increase Switching Charge and not reducing Interest rate

I took home loan from HDFC almost 2 and half year ago at the Interest rate of 9.75 but they start hiking it with in few months.
Currently HDFC is charging me 11.5% from this January before that it was 12%.
One Good news is HDFC is now giving home at the 9.75%, Though this rate is only for new customers so that can attract them and once they are in make the rules more stiff so that they just can not escape from it.
I don't know what is the definition of floating in HDFC dictionary, Floating rules(like Switching rate, Prepayment rules ) or Floating Interest Rate which float in only upside.

When every bank is taking step to reduce the home loan rate, HDFC is just reluctant to take any step towards this in fact they started increasing switching rate by 1 percent. Now this is a real gimmick.

I think HDFC has really forgot the theory that one satisfied customer will tell 10 other people but one unsatisfied customer will tell 100s of people.

Guys no point taking all this here lets get together & Take the fight to HDFC.

I have created a group on Yahoo join it so that we can approch HDFC with our demands.

changed the name of the group

http://in.groups.yahoo.com/group/hdfchomeloancustomers/



Nitin Grover
Advocate
[protected]

i had my home loan automatically switched from centurion bank of punjab to hdfc bank which was the most unluckiest day as the banksemployees are rude andits policies are embarassing to its coustomers.ihad taken a loan 4 years back at 7.25% which was raised to 12% by the time of foreclousreon 16 feb 2009, i had to pay 7, 37, 000 against 725000 after paying my regular emi for 4 years.
my suggestion to all is if you need loan go to any bank, but not to HDFC.Its the worst bank in service as mr nitin stated in his comment . LETS FIGHT AGAINST ITS DISCRECIENCIS.

i completely agree with the fight against hdfc as is is looting its existing customers.