[Resolved] HDFC Bank — loan intrest rates | |
Query of mine which I've been following up with your HDFC Bank since last 2 months. But, today after all that follow ups considerring the fact that 1 dissatisfied customer shall not mean any thing to a big organization like HDFC, I'm foreclosing my loan. I just wanted the following queries to be addressed so that I can justify paying the loan interest: I have taken Loan against property under floating interest for commercial property. the EMI has started from feb 2008. the loan was offered at 10.5% the rate was revised to 12.50% immediately after the sanction letter (Increase of 2%) & further revised vide letter dated 9/09/2008 to 13.75% increase of 3.25% While your PLR has only increased by 0.75%+0.5% =1.25% & then reduced by 0.5% Is there any higher up in the bank listening or can RBI help. Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 1 Comment | |
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Branch 542, Trade World, A Wing, Ground Floor, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, India - 400013
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There's still time, move to a PSU bank, get a loan transfer, they will be more than happy to pay off these private banks.
You'll always stay happy with a PSU bank transaction.
HDFC and any other private banks have lots of (small font) clauses in their loan documents that a normal human being may not pay attention to.
EVEN THEIR RATE OF INTEREST FOR FIXED RATE LOANS INCREASE!!!
At the point of sale, HDFC personnel will literally fall on their knees to sell the loan product.
They will show u a track record and history that will span the pre-independence era.
Once the loan has been bought - you are just another customer. In a few months you will hear from them cordially increasing the rate of interest due to market rate.
And once that's done, Mr. Deepak Parekh will never bring it down.
You'll keep hearing reduction in market rate, but Mr. Parekh will not be moved.
With their floating loans, you will crib for the rest of your life, as they have a very ridiculous 3 month period policy for reducing the customer's rate of interest.
FOR NEW CUSTOMERS - EVEN IF HDFC IS OFFERING LOWER RATE OF INTEREST FOR NEW LOANS - PLEASE PLEASE PLEASE DO NOT TAKE THEIR SERVICES and IF YOU DO THEN DON'T SULK