HDFC Bank — Home Loan Interest Rate | |
Dear Sir, I have HDFC bank home loan from last 2.5 yrs. Right now as every bank have down their interest rate which is around at 9 %. But HDFC bank still charging me 11.75% of interst rate. Therefore I called their CCE & asked my query like why they are charging this much of higher interest rate for a old customer. On this I got reply as I can decrese this interest rate by paying 0.5% on the principal outstanding amount. so my query is why bank is asking to customer to pay an extra amount for decresing the interest rate ? Why should I pay any extra amount for this ? Also ... Initially bank offered me home loan & it was based on my monthly income & other related things. But as of now when bank is incresing their interst rate then why they are not considering the economical condition of their customer. This will not remains same all the time. Please consider my complaint and do the needful. Thanks & Regards Amol [protected] Was this information helpful? | |
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Comments
Amol,
Do not pay a single penny to bank to do convesrion. This is cheating. Many have gone ahead nad done this. Let me explain why you should not do conversion
Say ...now your interest rate comes to 9% from 11% after paying charge. After some time again interest rate will go up. Again it will reach 12%. Then Int rate will come down. HDFC for people like us will decrease by 0.5%. Then ask for one more convesion to bring at par with new customer. So in 20 years time you will pay 10 times conversion to reduce your rate. That too the rate that is prevalent in Market, given to new customers. We are hostage in the hands of these people. Do not do this. Fight till you finish. Complain to MRTPC, banking Ombudsman. Tell your relative, friends & public, never go to them for loan. Jago Grahak Jago .. Let's bring a revolution.
And if they do not decrease int rate for you (without taking any convesion fees) do change to Public sector bank.
Do not pay a single penny to bank to do convesrion. This is cheating. Many have gone ahead nad done this. Let me explain why you should not do conversion
Say ...now your interest rate comes to 9% from 11% after paying charge. After some time again interest rate will go up. Again it will reach 12%. Then Int rate will come down. HDFC for people like us will decrease by 0.5%. Then ask for one more convesion to bring at par with new customer. So in 20 years time you will pay 10 times conversion to reduce your rate. That too the rate that is prevalent in Market, given to new customers. We are hostage in the hands of these people. Do not do this. Fight till you finish. Complain to MRTPC, banking Ombudsman. Tell your relative, friends & public, never go to them for loan. Jago Grahak Jago .. Let's bring a revolution.
And if they do not decrease int rate for you (without taking any convesion fees) do change to Public sector bank.
i also suffered from hdfc on this issue like on decreasing the rate of interest, the hdfc staff always says you should pay conversion fee to decrease your rate of interest.therefore all affected sufferer should fight against hdfc and protest.
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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
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