[Resolved]  IDBI Home Loan — Cheating by breach of contract

Address:

Mumbai Suburban, Maharashtra

Respected Sir,
I have taken IDBI home loan of Rs. 725000.00 from IDBI home finance Ltd; in June 2005 at the fixed rate of interest. that time fixed rate of interest was more than floating rate of interest. Loan was sanctioned and disbursed as per procedure.36 PDC was given. After completion of three years, I was called and asked for "Whether I want fixed rate of interest or floating rate of interest". I opt for fixed rate of interest. however that time also floating rate was lower than fixed rate of interest. I had submitted again 36 PDC for next three years. Before completion of next three years , bank has changed my fixed rate of interest to floating rate of interest, without my concerned. By asking reason , Chembur bank in charge told me that this is banks policy and need not to take customer's concerned and if you want to change it from floating rate of interst to fixed rate of interest, you have to give in writting. At this point bank want customer concerned which seems to be double standard.
Sir, I am a government PSU employee and gets interest subsidy accordingly.
kindly look in to matter and help me.

Yours,
E.L.DIGHE
Mo [protected]