Comments
Hi Satya
I agree to you in full.
They are eating our money like anything.
I dont know whether they really abide by the rules of RBI or not.
I took the loan on 11.25 in 2008 since then they have been increasing my interest rate on very fast track, Its 12.5 now.
And when i asked them for balance transfer they are asking for some panelty of 2% on the complete amount of my loan.
I request the authority to please help us anyhow.
Best regards
Abhishek
I agree to you in full.
They are eating our money like anything.
I dont know whether they really abide by the rules of RBI or not.
I took the loan on 11.25 in 2008 since then they have been increasing my interest rate on very fast track, Its 12.5 now.
And when i asked them for balance transfer they are asking for some panelty of 2% on the complete amount of my loan.
I request the authority to please help us anyhow.
Best regards
Abhishek
I cannot agree more, They kept on increasing the interest rate when ever it went up in the market, almost 4% since i took the loan now 12.5%, but but now when interest rates are being slashed by RBI and other banks, they just reduced a 0.25%, The most frustrating fact is that they are providing almost 2% less for the new customers, I once called the customer care, as an enquiry and was able to find out that they are offering HLs at 10.5%, while we, the existing customers are on floating rate are deprived of these reductions in interest rates. Later I understood that this is a practice followed by many banks. I am wondering what does it means by "Floating Rate of interest". !!!
And to add to, when they gave me the first Loan document they mentioned it as Fixed Rate, and later they told me that was a mistake, and my loan is acually on Floating rate.
I am planning to seek some leagal advice.
And to add to, when they gave me the first Loan document they mentioned it as Fixed Rate, and later they told me that was a mistake, and my loan is acually on Floating rate.
I am planning to seek some leagal advice.
I cannot agree more, They kept on increasing the interest rate when ever it went up in the market, almost 4% since i took the loan now 12.5%, but but now when interest rates are being slashed by RBI and other banks, they just reduced a 0.25%, The most frustrating fact is that they are providing almost 2% less for the new customers, I once called the customer care, as an enquiry and was able to find out that they are offering HLs at 10.5%, while we, the existing customers are on floating rate are deprived of these reductions in interest rates. Later I understood that this is a practice followed by many banks. I am wondering what does it means by "Floating Rate of interest". !!!
And to add to, when they gave me the first Loan document they mentioned it as Fixed Rate, and later they told me that was a mistake, and my loan is actually on Floating rate.
I am planning to seek some legal advice.
And to add to, when they gave me the first Loan document they mentioned it as Fixed Rate, and later they told me that was a mistake, and my loan is actually on Floating rate.
I am planning to seek some legal advice.
I fully agree with others.
This bank is very keen in issuing loans and then increase the rate of interest as soon as RBI/Govt increase the same.
However, they do not reduce anything in line with INSTRUCTIONs given RBI or Finance Minister.
I have taken loan of 27 Lacs in April08 at 9.99% for 240 months.Loan A/C number MUM/Housing/IN/010237.
After 6 months, without any letter to me, they have increased it to 11.49% and tenure as 452 months.
While taking statement for taxation purpose, I came to know the fact.
I wrote to them many times but concerned people are totally un-professional and they give following replies
r1> we can not do anything with your complaint. Talk to customer care.
r2> we are working as per company policies and by March09, only 0.5% will be reduced.
r3> we are not coming under RBI. we are under umbrella of NHB. NHB is not reducing rate of interest. (so funny, FM and RBI Governor to note the same. )
r4> you can talk to Mr Sanjeet Gyani at number 28501194.
r5> we are not a bank but we are just a Housing Fin Institutte. Public sector banks can reduce as Govt is giving them subsidy to do so then How HDFC is offering at 8.75% ?
I am also trying to take following action.
1> Note to RBI governor
2> Note to PM as FM.
3> Note to "Jago Girhak Jago"
4> Will take help of my Friend in Aaj Tak to expose this bank.
I request Board Members of Bank to look into this matter.
This bank is very keen in issuing loans and then increase the rate of interest as soon as RBI/Govt increase the same.
However, they do not reduce anything in line with INSTRUCTIONs given RBI or Finance Minister.
I have taken loan of 27 Lacs in April08 at 9.99% for 240 months.Loan A/C number MUM/Housing/IN/010237.
After 6 months, without any letter to me, they have increased it to 11.49% and tenure as 452 months.
While taking statement for taxation purpose, I came to know the fact.
I wrote to them many times but concerned people are totally un-professional and they give following replies
r1> we can not do anything with your complaint. Talk to customer care.
r2> we are working as per company policies and by March09, only 0.5% will be reduced.
r3> we are not coming under RBI. we are under umbrella of NHB. NHB is not reducing rate of interest. (so funny, FM and RBI Governor to note the same. )
r4> you can talk to Mr Sanjeet Gyani at number 28501194.
r5> we are not a bank but we are just a Housing Fin Institutte. Public sector banks can reduce as Govt is giving them subsidy to do so then How HDFC is offering at 8.75% ?
I am also trying to take following action.
1> Note to RBI governor
2> Note to PM as FM.
3> Note to "Jago Girhak Jago"
4> Will take help of my Friend in Aaj Tak to expose this bank.
I request Board Members of Bank to look into this matter.
I completely agree with the above comments, this is most horrible, atrocious bank i have ever come across. Initially it was called Birla home finance. My sincere advice to people planning to go for home loan, never ever think of this bank. I took a loan of 29.75 lakh @ 11% just couple of months later it was increased to 12% and now it is 12.5%. Not even once they have reduced the interest rate, most of the other banks have reduced twice or thrice. I went to the manager and spoke to him. Requested wholeheartedly. Explained my current financial situation and asked for reduction, but they did not value my request. They asked me to shift to other bank by foreclosing for which i need to spend 2% hefty charges. My life is in a complete mess now.
Hi,
I would like to know, What s the point in arguing about this matter in this website. We all have done a mistake in getting in to the bank. They are a private HFL and they can keep the interest rate at their will. They openly say, you can move to any bank after paying 2% penalty. If anybody can expose this bank to media, that would be the right attack to this institution. I am already in the move to switch to SBI as there is no processing fee for the new loans till april end. People can also try doing that as nothing will happen until this bank is thrashed by media or the government..
Regards
Guru
I would like to know, What s the point in arguing about this matter in this website. We all have done a mistake in getting in to the bank. They are a private HFL and they can keep the interest rate at their will. They openly say, you can move to any bank after paying 2% penalty. If anybody can expose this bank to media, that would be the right attack to this institution. I am already in the move to switch to SBI as there is no processing fee for the new loans till april end. People can also try doing that as nothing will happen until this bank is thrashed by media or the government..
Regards
Guru
Even, in my case, of 35Lakhs loan. initially offered at 10.5% and every quarter they increased and now prevailing is 12%. I am planning to move to the new SBI offer for 8%, however lot of processing and pre pyament charges have to be paid.
either RBI or supreme cour has to against all these banking companies, who charge different rates for new comes and different rate for old timers.. it is becoming so diff to pay the EMIs in this troubled times, when there is no guarantee of job./salary.
All the IT employess with 5+yrs of expereience are in the same category as most of them have taken loans and are suffering heavily..
either RBI or supreme cour has to against all these banking companies, who charge different rates for new comes and different rate for old timers.. it is becoming so diff to pay the EMIs in this troubled times, when there is no guarantee of job./salary.
All the IT employess with 5+yrs of expereience are in the same category as most of them have taken loans and are suffering heavily..
Same is my case, I took the loan at the beginning of 2005 arround 20.5 Lakh with 7.5% floating, after the possession of my house, after the final disbursement around Dec 2006, they keep on increase interest rate to 12.75 giving the reason that due to RBI has increased the rates. But while rates are going down they are not responding to my mails and complain by phone. Recently only once they have reduced 0.5%, still 12.25% they charged to me, which is too high as compared to other banks.
For my loan there is only one advantage is there like we can pay back 30% of loan value each year. I am thinking of shifting my loan to nationalized bank, even that looks bit difficult as whether they will charge 2% on full amount or they will consider the 30% loan amount with out the repayment charge and rest they can charge, this query also they are not responding.
I asked many times, while increasing the loan BHW suppose to inform the customer, but they are not doing that even they have many reasons like due to delay in courier, it was not informed. Sometime they have increase the interest rate twice in a month as per my payment statement. Even I have wrong statements with interest rates, they have reason that as recently upgraded to new Computer system they have this problem. Can you believe that how this BHW have such a silly issue.
I think if somebody can expose this fact that how BHW handles the customers, then it will be helpful.
For my loan there is only one advantage is there like we can pay back 30% of loan value each year. I am thinking of shifting my loan to nationalized bank, even that looks bit difficult as whether they will charge 2% on full amount or they will consider the 30% loan amount with out the repayment charge and rest they can charge, this query also they are not responding.
I asked many times, while increasing the loan BHW suppose to inform the customer, but they are not doing that even they have many reasons like due to delay in courier, it was not informed. Sometime they have increase the interest rate twice in a month as per my payment statement. Even I have wrong statements with interest rates, they have reason that as recently upgraded to new Computer system they have this problem. Can you believe that how this BHW have such a silly issue.
I think if somebody can expose this fact that how BHW handles the customers, then it will be helpful.
I believe that some banks do take the advantage of such loop holes in making profit. RBI should be more strickt on the issue.There should be same rate of intrest for new as well as existing customers at least for floating rate of intrest. To keep all the customer aware about these failure some agencies should take the responsibility.
Pankaj
Pankaj
Recently BHW has reduced the home loan intrest to 12.25 %, As RBI guidelines it is suppose to come down further, Therefore I should know when BHW isfurther reducing the ROI on floating home loan or else we should shift to other banks, as other banks are giving loan on lower ROI.kindly let me know SOON about your INTREST RATE plan soon.
I agree 100%. I took loan of 26Lacs at 9%. They increased my interest rate up to 12.75%. Now they reduced the interest rate to 12.25% without penalty. I understand all private banks and finance companies like BWH(Deutsche Postbank Home Finance Ltd)
will not reduce interest automatically unlike other Public sector banks.
When i took loan from them, they told me that i can pay up to 90% as part payment from self funds without penalty. Now they changed the policy that i can pay only up to 25% per year without penalty
If i pay the first part payment in 2008 on July-08, then i can pay only up to 25% on outstanding principal amount till June-09. They don’t calculate based on financial year or Calendar year. This is one of the best example to show how cheat they are
If i plan to move this loan to other banks, then they will charge penalty of 2% and the worst case is that they charge on total loan availed and not on the outstanding principal amount unlike others. For example if my current outstanding principal balance is 18lacs and i availed loan of 26 lacs, the penalty will be calculated based on 26Lacs and not on 18Lacs.
If I want to move to lesser interest rate of 11.5%, they are asking me to pay Rs 20, 000. What a funny solution is this???
I am planning to move the account to India-Bank and they are transparent with the policies. Process in availing loan is tough, but i can relax after getting loan from them
I am fed up with this and all these private banks and finance companies on way or the other they will suck blood in the form of money.
They change policies at random to suit their need. Worthless customer care and don’t care people are the employees in BWH (Deutsche Postbank Home Finance Ltd)
We people are busy with work, couldn’t take this to government. It is high time we need to form a forum or group to file a public litigation case against these kinds of institutions
I learned this at cost of money that i will go for only PUBLIC SECTORS UNDERTAKINGS for Home loan or Insurance or Bank deposits or accounts...etc
will not reduce interest automatically unlike other Public sector banks.
When i took loan from them, they told me that i can pay up to 90% as part payment from self funds without penalty. Now they changed the policy that i can pay only up to 25% per year without penalty
If i pay the first part payment in 2008 on July-08, then i can pay only up to 25% on outstanding principal amount till June-09. They don’t calculate based on financial year or Calendar year. This is one of the best example to show how cheat they are
If i plan to move this loan to other banks, then they will charge penalty of 2% and the worst case is that they charge on total loan availed and not on the outstanding principal amount unlike others. For example if my current outstanding principal balance is 18lacs and i availed loan of 26 lacs, the penalty will be calculated based on 26Lacs and not on 18Lacs.
If I want to move to lesser interest rate of 11.5%, they are asking me to pay Rs 20, 000. What a funny solution is this???
I am planning to move the account to India-Bank and they are transparent with the policies. Process in availing loan is tough, but i can relax after getting loan from them
I am fed up with this and all these private banks and finance companies on way or the other they will suck blood in the form of money.
They change policies at random to suit their need. Worthless customer care and don’t care people are the employees in BWH (Deutsche Postbank Home Finance Ltd)
We people are busy with work, couldn’t take this to government. It is high time we need to form a forum or group to file a public litigation case against these kinds of institutions
I learned this at cost of money that i will go for only PUBLIC SECTORS UNDERTAKINGS for Home loan or Insurance or Bank deposits or accounts...etc
I am with this bank for more than three years. I recently moved out from this bank. There is no centralized control. There is difference in interest rates for all customer between 11% to 15%. The decision is up to branch manager. If you are not monitoring properly you will be cheated. During my period of loan the interest rate are increased from 7.5% to 13.5%. They do not have complete history of dates when the rate is moved upto 12.5%. I think its upto account manager(if he think he will just go and change the interest rate for company profit). There won't be any notification for increase in interest rates. Sometime they will change EMI without any notice or take money from your account without informing you. They will talk really very nice, but cheat as they wish.
They will always try to take as much as interest from your repayment amount. If you are unaware about Loan Calculation / Variable Rate System you will be exploded. I had seen some customer paying 15% interest to them without knowing about housing loan system[It is really sad seeing them getting cheated since they don't know much about RBI rules]. They are professional cheaters with lawyers, so please do not waste time in speaking and waiting to reduce the interest.
Move to some well established housing sector bank with online monitoring system. I am not sure if indian government FSA works.[http://www.pgportal.gov.in]. We can escalate issues here.
NOT TOO LATE. ACT NOW & COME OUT FROM THIS DEVILS.
Its your effort and your money. They are not allowed to simply sit and eat all your money.
They will always try to take as much as interest from your repayment amount. If you are unaware about Loan Calculation / Variable Rate System you will be exploded. I had seen some customer paying 15% interest to them without knowing about housing loan system[It is really sad seeing them getting cheated since they don't know much about RBI rules]. They are professional cheaters with lawyers, so please do not waste time in speaking and waiting to reduce the interest.
Move to some well established housing sector bank with online monitoring system. I am not sure if indian government FSA works.[http://www.pgportal.gov.in]. We can escalate issues here.
NOT TOO LATE. ACT NOW & COME OUT FROM THIS DEVILS.
Its your effort and your money. They are not allowed to simply sit and eat all your money.
I fully agree with you. I too am going thru the same situation. When i tried to contact them at corporate office at Gurgaon, no body is there to attend.
Deutsche Post bank is totally a misleading co.
I also takes two home loans one at 9.99% and other at 10.25%, now, I am paying 10.99% & 11.25% for those loans.
I had given lots of mails, letters & legal notice to them but no action were taken by them.
I also takes two home loans one at 9.99% and other at 10.25%, now, I am paying 10.99% & 11.25% for those loans.
I had given lots of mails, letters & legal notice to them but no action were taken by them.
Deutsche postbank / Home Loan — Reduction of Home Loan Rate
Hi Sir,I had taken the Home Loan from Birla Home Finance which got takenover by Duestche Postbank.
When I took the loan it was at a rate of 11.75 % floating.
Now when the interest rates have reached 9.25% from past several months I am still being charged 11.75% that is 2.5% extra from past sseveral months.
The bank is also not clear about what the interest rate is going on.
PLease help me out with this and also please make aware other people who are looking out for a home load not to go with this bank.
My File no : BNG/031436
Regards,
Vinil Gopalan Nambiar
I fully agree to this post. There are BIG TIME CHEATERS!!! Pls dont even go to them to buy your new home.
I also agree to the post. In addition to it, if you ask for Forclosure statement they will not give it to you easily and try to gulp your as much money as they are able to.
I haveLoan A/C.No.DEL/002128with BHW and I have not received the details of my EMI consisting of principle Amount and interest portion w.e.f April 2009 to March 2010 to asses my tax liabilities.I request that the same may be sent by e.mail tome or by fax.N0.[protected].
thanks
thanks
DeutschepostBank — Home loan rate of interest
Hello,I am having a loan account with DeutschepostBank (earlier known as BHW homw finance).Floating
A/C No JAY/HOUSIN/010215
1 Change in rate of interest is not intimated properly.
2 When RBI increases BLR the rate of interest for the hous loan increases immediately.but if RBI decreses the lending rate then Bank doesnot decrease the rate of interest at all.Rate of interest is as high as 11.75%.
Please help how this could be solved.