[Resolved]  BHW Home Finance Limited — Home loan Interest rate conflicts

Hi, I ahve also taken home laon from Birla home finance. Current HOme loan rate is jan 09 is 12.75 % they are saying they will reduce by 0.5 in aor 09. what is useless thing . is it advisable to change bank to other bak which is offering 9.5 % by paying penalty & processing chargse. BHW is no resonse from them . why they are reducing in april not effecting from jan . also outsite its 9.5 they are redcing only uot 12.25 % . is their any court where we can take any action. ithey have one more option pay 1.2 % penalty & reduce to 10.5% ROI .. which option best sme bank / go to other govt bank change 9.5 % with 2.25 % penalty with processing charge. Ls help me out

I totally agree to the point that has been mentioned . I am also having a home loan acct since Dec 2006 .. They have increased the rates everytime mentioning about the market conditions . But now when RBI has cut rates and all the other banks have reduced their rates for the existing customers these people are doing nuthing . I feel like cheated .

Can anyone please suggest if I can transfer my loan to any other bank .

My account number is 7375, and I am paying interest rate of 12%. Worst thing is they increase interest rate without informing us. In Aug 2008, I asked BHW guy (Gopal) to increase/decrease my EMI, whenever you people increase/decrease interest rate. atleast I can know that rate is increaed. He replied my email saying OK, but still I see my tenure is increased. I am seriously thinking to move to public sector bank.

HI, I hv taken my loan in Sep 08 at BHW, Pondicherry. At the time of application I was promised tht the interest will be 10.5%.But I received a mail tht the loan is sanctioned at 11% interest. So I asked them to stop the process & cancel my application. But the manager told tht the cheque is ready & will be released within one week.Finally they released the cheque after 2months at 11.75% as interest without informing or confirmation from me.
So I too feel tht I am cheated. Now I am seriously looking to change frm BHW to govt sector buy payng the penality.

Pls someone suggest me, is tht advisable to change the bank now.

Guys,

Rather than wasting time, switch your home loan to a nationalised bank like SBI or Bank of Baroda.

Folks i too am stuck up with BHW. What is to be done...terms and conditions of loan transfer or temination? why is the Conusmer Complaints forum not doing aything with BHW? People forclosing their loan enblock would set them straight.

Were you able to resolve this?

bhw is a regret that i have been living with. i'm paying back my homeloan without any information whatsoever.

The worst intitute ever seen, when there is any increase announce by RBI, they are very prompt in increasing the interest rate, but when every day RBI is cutting repo rate, why BHW is not reducing the interest rate.

BHW Home Finance Limited — not returning the processing fee

Hi All,
I am amit kumar and the suffrer from the BHW, i have applied on home loan for the BHW, they have taken the processing fee from me but now when i am asking them to get back mine money they are denying to return mine processing fee,

Guys, i am also having a complaint from BHW since june 2008. Now i want to escalate the issue and teach a lesson to their accounts and sales people.
Can any one provide the email id of the sales and account national head or same level of person of BHW

Kindly mail me the details on my email id arni.[protected]@hotmail.com

Ankur Gupta

They committed me to disburse a loan of Rs. 19.50 but at the time of actual disbursement started negotiating on the disbursement amount and put me in trouble. Beauty of this story is - they are not infact ready to return my file charges. I thing friends lets all meet and Band Bajao of this company.

You all can mark your mails to me on [protected]@rediffmail.com and lets take it up a group.

Why can't all of of go together and file complaint against these banks.

I have a similar case they have increased my loan taken in 2006 from 8.75% to 12.75% by 2008. Its been over an year that they are not willing to reduce the interest rate.

Dear Friends

Time has come to unite ourself against this MNC. These MNC companies are really F*ttu and ther fears a lot when threatend. We must threaten them by sending Initial notice mentioning major concerns like Non adherence to RBI rules, Lack of Customer service, rude behaviour of their employees.
Copy of these notice will be sent to RBI higher officials, Print Media, TV channels and to their CEO sitting in Germany and India.
Note that the copy of this letter should be signed by all my fellow friends who have put their complains here.
For my fellow frineds information this company is not only cheating us but also the Government of India since they bring money from their Home country (Germany) at very cheaper rates and lending is done at very high rate in india. They should not be spared.

U will see the results and this company will be in our feet.

Come unite ourself and plan to take them in our feet.

We have taken the loan of 20 lac in 2008, at the rate of 10.25 fixed for 6 months, immediately after 6 months they have increased it to 11.25. later they increased to 11.75 for which we never got a communication. when i mailed the manager he said we had sent but might have been missed out. and when i asked for a copy of the letter sent he said it will take time and never got that till date.

Also at the time of taking loan the agent had mentione that there will be no charge on 90% of the amount paid back and only 10% will have chanrges, now they say if you are paying only 90% then no charge if you are 100% or trasferring then they charge 2% on outstanding principal+12% service tax :(

When asked about the same manager says it is mentioned in the agreement you might have not read, what if agent had said.

every banker has reduced the rate of interest to 9-10%, its you people who are still charging rate of interest so high . i am a defence person and spoken to other friends of mine who adv me to go to consumer court or change the banker .
after charging 2% of processing fee you also reduce the rate of intrest, how come you cheat your clients like this . this is matter of great concern . pl do omething at the earliest before clients start taking some action

I have also taken loan from BHW Birla Home fiance Ltd @ 7.[protected]@ interest rate. My loan account is NOD/001475. But at present they are charging 13% interest rate In the last couple of months, RBI has taken lots of steps ( like cuts in CRR, Repo Rate, Reverse Repo Rate), and due to that many Nationalized and Private sector banks has reduced their floating home loan rates. But BHW Birla Home finance has not reduced any rate of interest.
I have made the repayment of Rs.85, 000/- in the month of Oct.2008. But till date they have not forwarded me the reschedule plan of EMI.
Moreover the courier information about interest charges raise comes in early morning which is very cruel &unpleasant act on part of bank..

BHW is the most unprofessional organisation i have ever seen .They have not given any documents and agreement copy to me till date, after almost one year .Even the loan insurance papers have not been given to me, though they have charges 9000/- for this purpose .
These people run the organisation like Lala's and Baniya's with an aim to dupe people

YES. IT IS A BIG FRAUD COMPANY