Andhra Bank — higher mclr switching charges

Vaasu C

from Hyderabad, Telangana

Address:

Hyderabad, Andhra Pradesh, 500072

I would like to convert my home loan interest rate from plr to mclr. I was told by the andhra bank staff that i need to pay 1% where as idbi bank in which i have another home loan charges only 0.1%. Other banks charge max of 0.5%. Why there is a huge difference in these charges. Is this the way you earn by charging higher amounts on services? What is your justification.

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Andhra Bank customer support has been notified about the posted complaint.

Oct 04, 2017

Updated by Vaasu C Andhra bank customer care centre is worst of all I know. Any query I ask they simply say contact branch. They have zero information with them. There exists just to pickup the call and to tell you contact branch. Even if you ask what is the interest rate of homeland they say coy branch. How ridiculous.

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Comments

saikw

from Medinipur, West Bengal

They are just fleecing their customers . Now Andhra Bank charging 10.7% Interest rate on Home loan. Whereas most bank are charging 8.35%.
Pathetic service, exorbitant interest rate