[Resolved] State Bank of India — Interest rate fraud | |
Myself Sarvana prakash have obtained a home loan from SBI bank in my home town for about 10 lacs at the fixed rate of interest 9.5 pc for pay back period of 10 years. In the loan arrangement letter the loans manager also undersigned it. But after getting the loan i have PDCs. At the end of the first year when i have got the statement of account i was shocked to see that from the first instalment the interest rates have been in floating rate. After approaching the bank officials many times and contacting the bank manager, we were frustrated that they are not even ready to talk over the issue. Always they are reluctant in answering. Since im working in Gujarat and my home town in tamilnadu (Where the bank is) it is very difficult to solve this issue. I have given many complaint letters every thing were unsuccessful. If any one reading this content have faced similar problems and have been successfull solving it, plz give me a mail so that i can also be benefitted. Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 1 Comment | |
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Mu case is as below.
We (Raushan Kumar & Ajay Alex) had applied the Home Loan, which was Sanction & Disbursed at the same time for the same value of property with same amount limit; only difference was that I got the lesser ROI @10.50% in my sanction letter as compare to Ajay’s sanction letter @ 10.65%, then why I am being charged @ 9.25% as Ajay’s ROI is 8.5% as of now.
As per my ROI in sanction letter I should be getting the ROI of 8.35% after reduction of your rate.
In spite of my letter & continuous follow up with SBI RACPC Bangalore, I couldn’t get any positive response on the same except it is correct without any clarification. Hence I am forced to contact you & would go to consumer court as well if required as I am feeling cheated by SBI bankers.
I would request you to look in this matter & do the needful for necessary correction & adjustment for already charged interest in my Home Loan account & confirm the same at earliest.