[Resolved] IDBI Bank — Interest on top up loan

sananaaa278

Address:

Chennai, Tamil Nadu

I availed home loan of 20 Lakhs and topup loan of 10 Lakhs for tenure period of 15 years in 2010. When I availed my home loan my interest rate was 10.75% and topup loan interest rate was 12%. Now in 2012 my home loan interest rate is 10.5% but my topup loan interest rate is increased to 15%. My topup loan interest is increased from 12% to 15% in 2 years. This is very unfair and more like 3rd rate business which I didnt expect from a professional bank like IDBI. When I contacted IDBI customer care, i was told that topup loan interest rate is decided by bank officier's of their own. But IDBI is not ready to revise their interest rate on topup loan. The worst part is, the way of increasing topup loan from 12% to 15% in 2 years. VERY UNFAIR BUSINESS.

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Aug 13, 2020

Complaint marked as Resolved

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Comments

Balakrishna Prabhu

IDBI Bank — Interest Home Loan

Whenever RBI announces CRR hike by IDBI raises interest rate immediately.

When CRR is decreased to 250 basis points why is interest rate not decreased.
When RBI says interest rate for home loan less than 30 Lakh should be less IDBI has not implemented it.
In october 2007 IDBI reduced ROI new customers but for existing ROI was one 1% more.
IDBI bank treats exisisting customers for as if taken for Granted.

Sachin parab

from Mumbai, Maharashtra

it's true.