[Resolved] Ing Vysya Home Loan — Home loan complaint from ING or private bank | |
Hi Friends, If you are planning for home loan and find that taking home loan from any national bank like SBI is very difficult compare to private bank like ING, ICICI then you are on wrong lane. If SBI reject your home loan application then never finalizes this deal because either your property is disputed or your document is incomplete in this case you will find that private bank will offer you loan very easily. Here I am explaining you my experience with ING, when my loan is sanctioned they are offering me floating rate of interest @ 11.5 and when Ioan disbursed within month rate of interest increased to 12% . Before disbursement they are calling me daily and after that I have to call them daily. As All of you know that when RBI declare the cut in lending rate in November 2008 next day SBI decreased their interest to 9.27 % and you know still I am paying EMI @ 12 % to ING. Morel of the story is that hassles for two or three month from SBI is better then hassle from ING for remaining life. Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 5 Comments | |
Comments
I totally agree with Chandra. ING Vysya bank increase the interest rate soon but never do they reduce the interest rates. Never visit the ING Vysya bank. It is worse than a fish market.
Reply
I strongly agree that ING VYSYA Bank sucks big time. I took a loan from this bank last year at 10.5% and just after a month they increased it to 11% and then again to 11.5% and then finally to 11.75%. I had taken a loan for a period of 20 years but due to increse in interest rate ING has incresed my tenure to 25 years (shocking). I can understand that the interest rate is fluctuating and not fixed but these people are cheating like hell. Last year RBI increased the CRR ratio and Repo rate twice due to which my rate of interest increased but since october last year RBI has reduced the Repo rate and CRR many times by over 450 basis points. If I calculate my Home loan interest should come down to 8% but ING VYSYA is charging me a interest rate of 11%. THESE ARE SUCKING MONEY (BLOOD) TO BUILD THEIR PROFIT. SOME ONE PLEASE TELL ME WHAT ACTIONS CAN I TAKE. I AM WILLING TO GO TO COURT TO TAKE ACTIONS AGAINST THEM. If someone would like to give me some suggestion then please email me at franky.[protected]@yahoo.co.in
!!!ING VYSYA will not only increase your interest rates, but the terms and conditions too!!! it is part of the HL allotment clause
"Part payment/Foreclosure norms are in accordance with conditions stipulated in the loan agreement. You may refer clause 2.10 and 2.11 in the home loan agreement for the same"
This is as
per the conditions, In general effective from 15/05/09.
1.Maximum part prepayments allowed in a financial year have an upper
ceiling of 25% of the principal outstanding. Any part prepayment over
and above that to be charged a fee similar to foreclosure fee
(3%+service tax). The minimum part prepayment can be made at amount
equivalent to 3 EMIs.
2. Part prepayment to be allowed only from 12th to 25th of a month.
3.Part payment is not allowed in 1st 6 months from the disbursement.
4.Part payment is not allowed during partial disbursed status.
5.Request letter to be submitted along with a DD/Cheque. The New
Tenor/EMI will be decided during the submission of the said letter.
Without letter, benefit of interest will not be passed to the account
holder.
6.On realization of DD/Cheque, reschedulement/restructuring of the loan
will be done.
7.The effect of the interest will be done from subsequent EMI date.
E.g.: Part payment credit dated 25.03.09, but interest benefit will be
affected from 08.05.09.
8.Penalties will be charged, if the part payment is made within 12
months prior to closure date. While closure of the loan, part payment
made prior to 12 months will be considered for foreclosure charges.
E.g.: Outstanding 1 lac + 5 lacs made during 12 months. 6 lac will be
considered for foreclosure charges at 3% + service tax.
"Never ever take housing loan from ING vysya"
"Part payment/Foreclosure norms are in accordance with conditions stipulated in the loan agreement. You may refer clause 2.10 and 2.11 in the home loan agreement for the same"
This is as
per the conditions, In general effective from 15/05/09.
1.Maximum part prepayments allowed in a financial year have an upper
ceiling of 25% of the principal outstanding. Any part prepayment over
and above that to be charged a fee similar to foreclosure fee
(3%+service tax). The minimum part prepayment can be made at amount
equivalent to 3 EMIs.
2. Part prepayment to be allowed only from 12th to 25th of a month.
3.Part payment is not allowed in 1st 6 months from the disbursement.
4.Part payment is not allowed during partial disbursed status.
5.Request letter to be submitted along with a DD/Cheque. The New
Tenor/EMI will be decided during the submission of the said letter.
Without letter, benefit of interest will not be passed to the account
holder.
6.On realization of DD/Cheque, reschedulement/restructuring of the loan
will be done.
7.The effect of the interest will be done from subsequent EMI date.
E.g.: Part payment credit dated 25.03.09, but interest benefit will be
affected from 08.05.09.
8.Penalties will be charged, if the part payment is made within 12
months prior to closure date. While closure of the loan, part payment
made prior to 12 months will be considered for foreclosure charges.
E.g.: Outstanding 1 lac + 5 lacs made during 12 months. 6 lac will be
considered for foreclosure charges at 3% + service tax.
"Never ever take housing loan from ING vysya"
Please join ING VYSYA BANK HATE GROUP on facebook. I am determined to take this bank to consumer court so lets channelise all our energy in only one forum and create representatives who will take the represent group of people from specific areas. Let make this happen as we all are getting ripped by this nonsense bank. I don't even want to call it a bank now.
Agreed,
I am also bearing the same expirence for my home loan. If some on found any solution then please let us know. How to fight with this problem.
Navanit ([protected]@yahoo.com).
I am also bearing the same expirence for my home loan. If some on found any solution then please let us know. How to fight with this problem.
Navanit ([protected]@yahoo.com).
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Plot No C/12, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, India - 400051
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