| Address: | Bangalore, Karnataka |
I have a home loan with First Blue (previously known as Deustsche Post Bank). I was under the scheme of 8.5% fixed interest for two years. It has now changes to floating and the current interest rate in 12.5%!!!!.... I wanted to transfer the home loan to a different bank but the First Blue guys tell that I will have to pay 2% penalty for that. When I argued back that the RBI has directed all bank not to charge any amount for preclosure or transfer, they said since I enjoyed the low interest rate scheme fixed for two years, I will have to pay 2%. This is absurd.. the bank has to adhere to RBI guidelines... Was this information helpful? | 
