[Resolved] GRUH FINANCE LIMITED — VERY HIGHT RATE OF INTEREST IN VARIABLE SCHEME
I had taken a housing loan of Rs 2 Lacs on fixed rate of interest in the year 2001 @ 12.50 % and thereater converted it to variable sometime in[protected]. Since then except for 10/12 months where my installment had come down to 2265/- after that every year my installment keeps on increasing, last what I have paid is 2657/- p.m. For this current year from April 1008 I have been asked to pay my PDC of Rs. 2681/- p.m. and their revised rate is 14.75%. When asked why my instlment increases every year, they say this is because of their prime lending rate which differs from company to company. Is this right, can u pls advice me what steps to be taken. I still have 102 instl. to pay to Gruh Finance. I am not aware of how to calculate all this nor do I understand anything about this housing loans rate of interest up and downs, but I feel that I must not be taken for a ride by Gruh Finance. Pls reply
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Aug 13, 2020Complaint marked as Resolved
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