[Resolved]  Can Fin Homes Ltd — Home Loan interest hike

I had not good experience with canfin homes, they will increase the interest rate when there is a increase in the market but not reducing when there is reduction in the market. i had to pay extra 3000 RS processing fees to bring down the rate of interest from 11.25 to 10.75. I have sanctioned for 15, 00, 000 and the emi is 14, 288 but I took only 8, 16, 000 and the emi is not reduced

humanity — HIGH INTEREST RATE FOR HOUSING LOAN

RESPECTED SIR

RESERVE BANK OF INDIA

SIR, STATE BANK OF INDIA INTEREST RATE IS 8% AND OTHER BANK RATE IS 11-50% FOR HOUSING LOAN .WHY NOT CONTROL PRIVATE BANK?

PRADEEP SARODE
NAGPUR
MOB.[protected] [protected]@welcomesindia.com

I too face a similar problem with SBI and feels that RBI should immediately intervene to stop such malpractces by nationalised bank. That too SBI should feel ashmed and can never claim " Taking the customers' Trust Forward" - the slogan of their Bi-centanary celebration. On my approach, none of the so called responsible officers ready to clarify anything. I too would like to know the legal remedy and request for sitable advise.

I also had taken a housing loan in Oct.2006 at fixed rate of 8.5%. Floating rate at that time was around 7.25%. In July 2007 they hiked the rate to 11.00%. Can they do like that after six months? Can we approach Consumer Court to get redressal?

I am also a victim of arbitrary increase in interest rate by Can Fin Homes. I took loan in 2006-07 at 8.5% fixed rate. They applied a clause in the agreement and arbitrarily increased the interest rate from 1.7.2007to 11% citing "unforeseen and exceptional market conditions". Though they themselves and most of other banks and housing financial companies have reduced the rate of interest to 8-9% for new customers, an old customer like me who took fixed rate of loan are still being charged at 10.25% interest rate. Numeous representations to the firm is not being considered favourably. Can someone suggest whom to approach in such arbitrary decision of a Govt. Company. My appeal to reguator National Housing Bank also not yet replied? They are cheating customers by offering less rate of interest and invoking silent clauses in the agreement lateron. Can someone offer any help in this regard.
KRK Kutty Nair, Bangalore

I am also victim of increase of rate of interest from 8 % fixed to 11% fixed due to "unforeseen circumstances", though the bank was offering loans to new customers at very low rate.
After so many representation to can fin home and then NHB for two times did not got good respionse except the bank offered a special discount of 0.5 to 1 % ROI, i. e. 10.25 to 9.25 or so. (this ROI was reduced from 11 to 10.25 due to prevailing mkt ROI was reduced.
Freinds it is high time to put our request in soft made, rather we have to approach to them thru consumer court. I am very soon going for that and will let you know the result of the same if it comes in our favour. I request to all of similar customers to bring the matter in legal premises and let us find out if we can get justice in this our own country?
Dinesh Nolakha: Ahmedabad

This canfinhomes ltd has worst recruitment, i haven't seen before such a hiring preplanned got money and some people were recommended ones. First thing I was so tensed on the day of selection and my hands were shivering I noticed a girl who is sitting next to me just reading newspapers with the leg on other and she got selected even the same day a boy who came late for an interview he got selected, strange thing they even don't no what to ask on interview flippin holes wasted of my money 300 bloody hell. Please don't think I am jus sharing on this blog because of not selected see this is not my anger to be honest with you those who are reading I had done the interview very well and hoped a lot me as well as my mom but it turned to be fade anyways jus read this before going for an interview to this organisation.

Jus go with money or b recommendation.


Regards,
Debhanams

To introduce myself as Prashanth age 30 years, who has loaned an housing loan with Can Fin Homes Ltd in Jan 2006 from Can Fin Homes Ltd Jayanagar 3rd Block, Bangalore, Karnataka. I have paid all EMI from 2006 to 2009 with no failure in payment. Last 2 years and half years, life’s been hard with company cutting salaries, no incentives and even laying off employees. I had to take a huge pay cut to continue my services in my company. Adding to the crisis, I am going through an divorce, which is my personal issues. However I am struggling hard to pay my EMI as much I can. I commit to pay my rest of EMI’s with no delay’s and I have committed this house to my parents, and will shed my blood to save this one for them. To your information, this is 1st house for my family in Bangalore after staying here for last 30 years. I will restore this home for my parents. My concern is not my ongoing issues, but it’s the Managers at Can Fin Homes, Jayanagar 3rd Block, Bangalore. Who has no sense or humanity to understand their customers problems. I would like to complain that, he is “Rude & Arrogant” talking his customers. I have been a customer since 2006, all have been nice people till last 1 and half year.

Last Jan ’11, I had gone to make my payments and receive my Provisional certificate to submit for Proof of investments at office. Mr.Bakathvalsan denied it saying that, they have considered my account has a NPA account. I understand, I had failed to pay in full, but I had paid some amt. Post which I discontinued to pay, and paid my full EMI this Jan 12. Again, I was denied my provisional certificate again. Pls tell me, how should I submit my proof of investments for last 2 years. I am not unhappy, because of these certificates. I am really, sad that Manager Mr.Bakathvalsan does not know to talk to his customer. I took this loan from Can Fin as my mother holds an account at Canara Bank for last 30 years and now this is how me and family is treated. I am deeply disappointed with his rudeness and arrogance. I have communicated that, I don’t want to talk to him anymore in my life time, who has no respect for me nor to his own staff. He has charged me with undeclared interest that, I have no account off. My current amt due is more than, what I have borrowed. I will stand to pay the amt he is asking to pay, if needed. All I am asking is bit of respect and humanity to my ongoing crisis in my financial life. I don’t want any discount nor any compensation. I just want Can Fin, the way it was 3 years back. Thanks for your time reading this.

All i say to the bloggers is that, Its not a good home loan to bank on. They have no care of their customers, nor they have anyone checking their emails and dont even know, what is online reviews are. So writing here is waste of time. I am not sure about how are the staff in other branch, but Jayanagar Branch staff suck, is not the word.

Regards,
Prashanth
(Can Fin Homes Sucks)

I had taken loan in CANFIN HOMES Jayanagar branch which is a sister concern of Canara Bank. The loan amount is less then 24 lakhs. In their site they had advertised the Interset rate as 10.75%, but they had put 11.25 % for my loan account.When Enquired they said I have to pay extra amt to reduce the interest rate and without my permission they had deducted an amount of 3680 rupees to reduce .2 % of interest. I request you to kindly do the needfull to reduce my interest rate to 10.75 % without any additional charge and also to get bak the amount which they had deducted without my permission.I did get in touch with the grievience cell but there is no solution.

Hi Kannappan, i am also facing same issue with canfin that my interest rate has been put as 11.2%.When I checked with Bank, they said it is risk rate.But the EMI amount is same... Please let me know you what is that exact details.

Hi,

I am also facing lot of problem in terms of loan dispersement at Canfin home loans, Basavangudi branch. Employee are incapable to write an application, incapable to take the permission from credit department. Had applied for a home loan in june 2013, and my processing fee was deducted in September, 2013 but i have received Sanction letter in June 2014 . Am Really frustrated.

Snig

I have availed Home loan from Can fin, Sahakar Nagar branch in Oct'14. I directly approached the branch manager, he was very humble and cordial. He explained every thing to me in detail, my loan was sanction in 7 days smoothly with out any problem. All the staff at Sahakarnagar branch are customer friendly. I have no issues with Canfin and I recommend to avail loans from this Canara Bank company. I am sharing this experience after banking with SBI and LICHFL, services of both banks are worst. In Canfin you are respected, you will get good services.

Ajay

Can fin Home Branch Vijay nagar, Bangalore...

I would like ask firstly, why citizens going to take loan for this bank? if you don't know, here it is, this is because only they tag sponsor by Canara bank.

Now, my experience with Bank AGM Mr. Madhukar, behavior and the way of talking like we're uneducated and asking for loan in spite of that, bank getting money from our pocket and the same money utilized for other loan purpose to get high revenue for the bank..

However, i would like say that my housing loan was sanctioned from RO and based on their behavior and rudness he simply cancel my loan. I'm happy now after cancellation, I got and apply for less interest in LIC.

here, i would ask, we're taking loan from can fin homes or their managers???

if your answer is, from can fin homes, then please educate your managers to change their behavior and rudness with customer what Madhukar did with me last saturday.. his knowledge is also very less in terms of fix rate and floating rate . he said all bank are giving only fix rate of interest.

now, i m in touch with other banks LIC, Karnaka bank etc, they all agreed for choices whichever you liked.

Finally, i urge and make attention on this point to Can FIn Homes Management to look at this issue seriously otherwise, definitely you will be on loss. we're not going to recomend any one to go for your bank for any loan...thanks for understanding...

CANFIN JAYANAGER BANGALORE.

This is not all bank, these people is acting like FINANCE COMPANY,
Government has to take step and close this CANFIN, but we all know that will never happen, and you will not even get Acknowledge for this,

I have taken loan In CANFIN JayaNagar Branch, now Interest rate has been reduced by 0.75 in total but this branch is not reducing even 0.1% and asking 0.5% conversational charges i don't know why,
If RBI increase over night they increase and sending SMS saying your interest rate has been increased,
IS IT RIGHT AND IS THIS FOLLOWING BANKING PROCESS.

CANFIN JAYANAGER BANGALORE.

Me also facing same, should i pay for this to reduce the interest rate? If we pay now tomorrow they will increase right? For my loan interest rate is now 10.95, will it reduce to 9.95 or ?

CANFIN Sahakarnagar, Bangalore

One of the worst housing finance Ltd in India, someone has rightly pointed that they operate like a finance company who squeeze common people's hard earned money in the form of high rate of interest, they are masters in exploiting customer's weakness. In Bangalore, most of the upcoming projects are either B-khatha/Panchayath properties. CANFIN says that they will not fund B-khatha properties, but when went through a agent the same was funded, when it comes for top-up/enhancement they will play tricks of not releasing funds under housing scheme giving reason as the property is B-khatha and all, instead they will offer you to go for personnel loan with a favored(they think) ROI of 14%.
The ROI was 10% when loan was availed, now paying 11.75%.
When other housing finance ltds have reduced the ROI under NHB scheme, CANFIN is the only bank that increases ROI when RBI increases, but never reduces when RBI reduces. When questioned they will kindly ask you to take a balance transfer to other banks(they know that they have squeezed major portion of the interest, which this bank is here for in the market)
I am fortunate enough to come out of this bank and got transfer to a different bank.

People, please be very careful while dealing with CANFIN.

CANFIN Homes is very worst.

I have taken the Home Loan from Electronic City Bangalore Branch.
One time, I made 7 days delay to make the EMI Payment.
They directly came to Home and asked for the EMI.
I blasted them and sent out.

Its too worst.

One more thing is, whenever change in base rate, they are NOT reducing the interest rate.
I been to branch many times for the same, Always they are telling, it will be done in next month.

Guys ... Do NOT take the Home Loan from CANFIN HOMES

When you ask about the representatives of Can fin homes Koramangala, very pathetic and cannot even rate them. very irresponsible and they expect the customer to be there in the branch and you have to fight back for your own rights. Especially there is one representative named Kavya. if you call them, they will attend the call and they will keep you on hold until you yourself disconnect the call from your end... none of your questions will not be answered through phone by those people... very pathetic.

Dear sir/madam,
I have taken home loan in 2015 from your Jayanagara branch
I am giving so many mails and calls to branch but no response given by them one lady is picking the phone from branch side miss behave with me

My laon accoon no[protected]

My mail id - [protected]@gmail.com

Would request you kindly take it seriously and send me loan statement from 1st macr-2016 to 7th December 2017 and changed EMI as per my request.

Thanks
H.M.Manjesh

Hi,

I have taken Home loan from Canfin Hesaragutta branch they have increased interest rate without intimation and there is proper response from Branch in charge and for tax benefit if we ask a certificate on the letterhead they are not ready to give and they will say we cont give