| Address: | H.no 1-6-174, Pooja Nivas, road no 40A, panagiri colony, new Maruthi Nagar, Kothapet, Hyderabad, Telangana. 500060 |
Acct holder: Sunanda Ghodwade
House loan - 15.5 year tenure.
My parents have a house loan of 10lakh rupees received in the year 2010 for a period of 15.5 years at BOM Kothapet branch, hyd, Telangana. My parents were initially informed to pay 10, 400 Rs as the instalment amount per month for the tenure.
I lost my father last year and when I did check with the branch they inform me now that the instalment is 17, 400 Rs and with a due of 44, 800 Rs. when I check with the manager why is that change in the instalment amount.
They say the rate of interest for house loan is different for the first 5 years of the tenure, then a different rate of interest for the next 5 - 10 years and then 10 - 15 years.
While my parents have been paying a instalment in cash every month without late at the parent branch of the house loan. But this was never informed the restatement to be done for these specified tenures of time above.
They did accept the instalment we paid as regular while they could have seen the wrong going on as this could accumulate the difference amount with compound interest.
The bank officials at the parent bank branch shown least interest in helping us or even informing us that restatement of interest rate to be done and we paying only the initially decided instalment every month, they never cared to help out or even make us aware.
This is utter un-ethical and I am pretty certain this was done intensional and least bothered about the customer. In the last 11 years of we paying instalment we were never informed about this. This is a minimal thing to be done in respect to the bank officials that they should have spoke to us why are we paying the instalment below the required.
I need help on this.
Regards.
Murahari Ghodwade
Son of Sunanda Ghodwade
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