State Bank Of India — Higher Interest Rate Charged on Home Loan

Address:

Kolkata, West Bengal

My Home Loan (A/c No.[protected]) was sanctioned in Oct '13 at 9.95% p.a on a floating rate scheme. At present I am being charged 10.30% p.a. However, the present rate for floating rate home loans being offered (as gathered from SBI corporate website) is 10.15% p.a, since Aug '14. Accordingly I had approached the local branch for changing the rate charged on my account to 10.15% p.a. However, the branch officials informed that I shall have to pay a charge of Rs. 10, 167.00 in order to make the switch, contrary to the contents of the loan agreement. I was further informed of a recent circular in this regard. Queries asking on what ground the amount is being claimed, and seeking a copy of the circular for further necessary action, and also if a similar charge will be levied on all subsequent downward switches vis-a-vis interest rates, have gone unreplied. Note: I received a communication stating that my complaint no. OP[protected] lodged with customer care, was closed. This is inspite of the fact that my query is yet to be resolved.