[Resolved] Axis Bank Home Loan

[Resolved] Axis Bank Home Loan — Floating rates

H Hemant Gupta from Mohali, Punjab

I am bit confused by banks policy to charge different rates to new and existing customers, not sure this falls under fair practice norms, i was verbally confirmed the rate of interest is 8.75 % but when i received my statement i was charged at 9.50 %. My complaint is not towards one bank, but why are banks allowed to change different ROI to two customers. Was this information helpful? No (0) Yes (0)
Aug 14, 2020 Complaint marked as Resolved
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kalpesh373

from Vadodara, Gujarat

I received a senction letter from Axis bank by mentioning the interest rate for first year is 8.25% and for second year is 8.75% and from third year onwards as per the base rate of RBI + 1%, and validity of that senction letter is 90 days.

After 50 days on 25th Jan-2011 when I requested for first disbursment they have changed the rate for second year is 9.00% from 8.75%. I received a message on my cell and document at my home and they disbursed the payment on 27-JAn 2011 and today is 8th Feb-2011 although my builder has not received the payment.

Kalpesh Thakkar
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[protected]@yahoo.co.in