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Mr. Vijay, are you by chance work for HDFC in anyway?. I think so, else u cannot make such insensitive comments again and again. why are you always in defense of HDFC even thougth such private banks "Take the existing cust. for a ride and screw them" mode.
You don't have any authority to say that, "go and get the loan from somewhere else". Banks suppose to do business by give loan and collect in ethical and fair way, not rob the existing one and seduce the new one with low % and rob them too.
simple, banks must honor the "floating rate" ie. when the RBI CRR/whatever or inflation increases, increase, when decreases decrease to all.
You don't have any authority to say that, "go and get the loan from somewhere else". Banks suppose to do business by give loan and collect in ethical and fair way, not rob the existing one and seduce the new one with low % and rob them too.
simple, banks must honor the "floating rate" ie. when the RBI CRR/whatever or inflation increases, increase, when decreases decrease to all.
I have sent multiple complaints to them without any action. All we can do is spread awareness on these cheaters
Hi Sonica
My sympathies towards your plight. However, based on a loan of [protected]@10.25% your EMI is 26514 ( Rs 982 per lac ). When the Interest Rate changes to 11.5% your Actual EMI is 28809 ( @ 1067 per lac ). However, keeping your previous EMI of 26514 constant your tenure has to increase. Your tenure is keeping your previous EMI constant is now 392 months. To get your period back to 240 months you need to prepay atleast Rs 2, 00, 000 ( 2L ). You will need to constantly prepay ( however small that amount is ) in order to ensure that u get outta this trap.
My sympathies towards your plight. However, based on a loan of [protected]@10.25% your EMI is 26514 ( Rs 982 per lac ). When the Interest Rate changes to 11.5% your Actual EMI is 28809 ( @ 1067 per lac ). However, keeping your previous EMI of 26514 constant your tenure has to increase. Your tenure is keeping your previous EMI constant is now 392 months. To get your period back to 240 months you need to prepay atleast Rs 2, 00, 000 ( 2L ). You will need to constantly prepay ( however small that amount is ) in order to ensure that u get outta this trap.
want to say you one things that just arrange the money from somewhere and close the loan. Udhar bahout kharab chiz hoti he so please close your loan as soon as quick. If you will pay 25% of the loan amount every year then HDFC will not charge you any extra money. so please close the loan by paying 25% every year or close the whole loan at 1 time.
As per my approximate calculation, the new tenure comes to 364 months. The best way to counter this is to make a prepayment. If you make a prepayment now of approx 2L to 2.15 lakhs, the tenure will come back to close to original of 240 months. Note that the more you delay your prepayment, the more amount will need to be paid to reduce the tenure.
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I want to say you one things that just arrange the money from somewhere and close the loan. Udhar bahout kharab chiz hoti he so please close your loan as soon as quick. If you will pay 25% of the loan amount every year then HDFC will not charge you any extra money. so please close the loan by paying 25% every year or close the whole loan at 1 time.
Thanks
vijay