[Resolved]  HSBC Home Loan — ROI on Home Loan

We are help less. These all foriegn banks has come to play with our
country laws. They are playing with our poor people.
Because other nationalise banks are reducing rate of interest. Why thes all Foreign banks are not following the RBI instruction?. There must be some flaws which they are taking advantage of it.

I am having the same problem with HSBC. Currently my ROI is 13.25% and HSBC is saying that they have no definite time period in mind by which they would be reducing the ROI. I am feeling helpless. Please advice to whom should I go or report this

i am agree with the others. As hsbc at the time of increase of interest rate on home loan they are
IN FIRST, but at the time of reducing it they are not doing that. They are all playing a trick with the
people of INDIA. I will further advice to others not to take HOME Loan from this very bank

Totally agree. Am also facing the same problem. They are not even ready to reduce the interest rate by even 0.5%!!

What options we have?

HSBC is a third rate bank for a home loan and I'm paying 13.75% too. I think the only way for us to give them as much negative publicity as possible and inform all your friends and contacts never to take a home loan from HSBC. Unfortunately RBI does not help consumers like us who are stuck with banks like HSBC

I face same problem paying 13.75 percent interest rate and bank is just not ready to listen on comparison point with other banks. Switch over to other banks is too tedious and time consuming task specially if you want to switch to PSU banks. Are there any agencies who specialize in in home loan switchover to PSU banks and is there a way to complain against HSBC malpractices.

Yes, switching is the only option. I have already started talking to different banks.

I too had a home loan with HSBC, but after seeing their swiftness in hiking the interest rate I switched over to Union Bank of India, PSU after a little running around. The interest rate at HSBC was 12.5% whereas at UBI it was 11% in August 2008. Now the interest rate at UBI is 9%. I am glad I did the switchover, as I shall recover the expenses within one year due to savings in the interest, the loan tenure decreased from 25 years to 15 years with EMI less than HSBC!

my husband and I face the same problem with HSBC. The rate of interest is high regardless of the ROI. We bought a home 5 years ago and after repeated request they finally reduced our rate of interest, only to bring it up again a month later. It seems to me that the rate of interest increases automatically and gets reduced only on request. The long process of arguing your way into a lower rate of interest is too tiresome for us to try again.

There are countless other problems with other HSBC accounts...but that for another day.

Hsbc, as it seems, works with absolutely no regard in their customer's interest. I am surprised that in 2010, they can get away with it. I wonder what their sustainability plan is - steal as much money from your customer today, so we can deal with the lawsuits of the future. OR steal as much money from your customers today because there won't be many in the future.

It is not as shocking as it is sad really.

what is even sadder is that nothing can be done to protect its customers. once you are lured into their bank...getting out is not easy. You would have to pay your way out. Its a trap one way or the other. A switch to another bank may seem expensive and tedious, but, it is well worth it in the long run.


It is the worst bank i have ever banked with. Best advice to friends ...is to just stay away

HSBC Bank — Interest on HOme Loan

Dear Sir, letter dated 10th December, 2010 of HSBC says, the home loan interest is reduced by 9.75% and the rate is applicable from 9th December. Even I received 2 calls from phone banking officer of HSBC asking for the confirmation of the interest rate. which I confirmed verbally.

Today I received another letter, which says, home loan interest rate is increased @ 11.75% and the rate is applicable from 15th December. For this I have not received confirmation call from bank. Without my confirmation, HSBC increased the rate.

In the past also they increased the home loan rate without intimating me and when wrote to RBI Obatsuman, they replied to my query.

Please help me on this issue.

awaiting your earliest reply.
Seli Mathan
Mobile : +[protected]

Also keep a track on how much interest and loan ammount u r paying back..

I had faced a problem like after paying for 5 years, I tried to takeover the loan from HSBC to a Nationalized back.

Loan amount which i had taken was 11 Lakhs floating interest
Final settlement after 5 years is 11.50 Lakhs.

You may wonder by true