[Resolved]  Ing Vysya Home Loan — ING VYSYA BANK is a Big Cheater. Dont take Home Loan from them.

Hi

I am one more victim Home Loan buyer. When I availed a load in year 2007 the rate of interest was 9.5%, which was competative within the market. Once the loan is disbursed all clauses started changing... Prepayment penalty which was 1% rose to 2% and at present it is 3%. Interest rate rose to 13.5% (seems like a personal loan iterest). This bank is a Big Cheater... Please never opt for any loans from this bank.

Murali

Hi,
Now, I am also a victim of this cheater bank. I had taken 8 L house loan 2 years back at 10.25% interest. They have never reduced even 1 rupee when the repo rate decreased couple of times in between. Last week they had sent me a letter saying they have added about Rs. 800 in my existing EMI and extended my tenure to 25 years instead of 20 years as per the loan tenure. I calculated approx total of repaying figure which comes around 30 L against my 8 L loan. Rubbish !!!

Kindly suggest me a solution, where to go or whom to approach for a solution of this exploitation.

I have faced the same situation with ING and want to log a complain against them, please contact me on [protected]

100% agree. As per the latest letter that i received in may 2011, the rate has been increased to 13.25%.

I agree with this post. ING Vysya Bank is a fraud bank.

I have no energy to say.. Having a highly difficult time with these guys. My loan interest rate was 10.75% when I tool three years back, but currently it is 14% (touching my personal loan interest rate). I have given them the revised cheques of Rs36, 500 two months back and requested to return back my old cheques of Rs24, 960.

Interestingly (unfortunately/ridiculously) they are presenting both the cheques and removing Rs.61460 from my account for last two months. I am still having difficult time to get back my money and get back my previous cheques.

I am also on same boat. When i have taken the home loan, the ROI was 10.50 % but now it is touching to 14 %. I have asked several times to the bank that when the loan was taken, At the time Home Loan purchase the Base rate, PLR, RR and RRR was different and today is different. But no one is reverting back on this. I am having touch time as i am paying the rent and EMI both at same time. The Loan is not decreased but increased by this bank.

This is in regard to the complain for ING Vysya Bank. I have taken the loan from ING Bank at the ROI of 10.50% in March 2010. Now they have increased the ROI to 13 % without giving any clarification provided for Base rate.

At the time Home Loan purchase the Base rate, PLR, RR and RRR was different and today is different. Please confirm if the bank have rights to increase the ROI for existing customer only and offer less ROI to new customers.

This is not justice to the existing customer. Please guide me how to take it forward with bank. I have requested to the bank to lower down the ROI but they are not ready for it.

I will be very thank full to you if you can help me out from this trouble.

Hi,

I have applied the Housing Loan with HimayatNagar, Hyderabad branch.
Where I was forced to meet an agent, where the story started.

He took all the signatures and as required by the bank.
And the Heart Breaking news was even the building construction was not started the idiotic bank has released 90% of loan that too without any information/approval from customer/my end.

It took 2yrs to complete with the god grace and big fight with bank and builder. Shameless people.
I have come to know that bank employees were very close to builder and played this high drama.
Finally who was the sufferer - customer that is no other my self. I have paid 3lakhs as PRE-EMI. no one in this world paid that much for nothing. Now without any information to customer interest rates are hiked to 14.25% where no bank is charging. I dont know why i bought that house and that too with ING.
Please my request is that please never ever go with ING bank FOR any transaction not even savings account, current account, fixed deposit and any Loans.
If by mistake if you have taken, you will not get an helping hand from the branch to move to other bank, will be charged for each and every move.
lack of process in the bank and no one will take the responsibility.
CAREFULL with ING VYSYA BANK... God should save me and other who are already with ING.

Yes, I too agree on the above comments... I've taken HL from ING in 2008 with interest rate of 10.25% and subsequently it has gone upto 13.75% whereas other banks are running with fair interest rates... During this period I've paid totally 9.35Laks out of which only 75 thousand has gone to principal and remaining 8.60 lakhs gone to ONLY for INTEREST... ING VYSYA BANK is VERY BIG CHEATER AND DON't GO WITH FOR ANY LOANS...

i have an existing loan from ing vysya loan account no.: 5500HL527624. the bank want to levy 3% pre-closure charges. bank like icici have waved out their pre-closure. this makes me assume that if icici can wave out these charges so can any other bank and this also could mean that the circular by NHB is put in practise by these banks. then why would ing vysya charge these charges and that too "3%". i have just closed 1 loan with icici and smooth experience. is there an authority to give people like me a solution against these bank??????? desperately seeking help !!!
Shakeel Memon
[protected]

I took a loan from ING VYSYA bank last year at 10.5% interest rate and just after a month they increased it to 11% and then again to 11.5% and then to 11.75%. Now whooping 14%. I had taken a loan for a period of 20 years. I keep on getting letters you need to pay this much extra and over due amount. So painful to be associated with them, spoken with many banks and everyone says you have taken for ride nicely. i have paid approx 5 lacs still no changes in pricipal amount. Want to sue them, really loosing peace of mind and the way they are sucking hard earned money.
pls help !!!
prashast.[protected]@gmail.com

I am also one of the victim and suffering from lat 2 yers. This cheater bank has given me loan as a scheme at 8.25% for two yers. After two years it has gone up directly to 12.50%, while increasing ROI, there is an increase in both like tenure as well as EMI which should not be the case.
In lat two years I have not received any single document from ING bank and on asked bank is saying that they are not having my mailing address, which is highly impossible because without any verification bank doesn't provide any loan.
Bank also have taken an extra charges towards reduction of ROI and at the end they left saying that we have reduced your tenure and there is no any clause to reduce my EMI.

I am going to lodge a complaint against ING Vysya Bank in consume court, only I need support from all of you. I am ready to teach a lesson such a cheater bank.

Please...Please don't go for any kind of loan, especially Home loan with ING...which is a big cheater...my email id is [protected]@rediffmail.com

I have not seen some-one cheating like ING Vysya Bank.I took a Home Loan 3 Years Back for 13.99 Lacs.In the Interim, I paid 2 Lac to reduce my outstanding to 11.99 Lac.
Now, I want to close my Home Loan with them as I sold my Flat.Even after following up for so many Days, they have issued me a fore-closure letter on 26th Nov, having Final Date of Payment as -24th Nov12.
The worst part is that, my outstanding shown is 11.64+taxes+foreclosure charges=30, 424.57, which totals to 12.01 Lacs.So, If I add 2 Lac to it it becomes-14.01 Lacs, which is HIGHER THAN THE LOAN taken by me .So, ALL THE INTEREST I PAID FOR 3 YEARS, equivalent to some 5 LACS have gone into their Pocket !!! SO, I AM BASICALLY FOOLED LIKE AN ...
TECHNICALLY, In 3 YEARS, they didn't deduct any PRINCIPLE out of 5 LACS Paid to them ...
Though, I am closing my Account with them, I need help to file a case against the Bank in Consumer Forum so that stringent actions can be taken against them by Govt/Court.
Pawan Kumar, Mumbai

Hi,

I am surekha Gote, me too facing the same problem for Home Loan from ING Vysya Bank..
I would also like to go to court.

I took a loan from ING VYSYA bank last year at 10.5% interest rate and just after a month they increased it to 11% and then again to 11.5% and then to 11.75%. Now whooping 14%. I had taken a loan for a period of 20 years. I keep on getting letters you need to pay this much extra and over due amount.

Twice i had been to branch to resolve my home loan issue in 2010 and 2011 i have been directed to customer care saying that only sales staff sit at barnch hence ny request was not taken. same time my father went through majar surgery and very seroius so i has lost touch them.

Now i am getting calls from Head office for some over due amount which was due to hike of rate of interet.

Point :

1) Without customer Intimation Bank has increase Tenure
2) Due to frequent change in rate of interest very less priciple has been deducted from loan since 2008.
3) Why should customer pay over due amount.
4) In 2010 to 2011 i was planning to shift my loan from ING to SBI, but bank had asked me to pay 2% charges where in other bank were doing Balance tranfer 0% charges.

I will be very thank full to you if you can help me out from this trouble.

Hi,

I guess all o[censored]s should file court case against the bank and send them a legal notice.
Delay in action means its our loss..

I am with all of you and I reside in Navi Mumbai, Maharashtra. Mostly all my concerns have been covered in the above comments. I am also one of the victims of ING Vysya Home Loan since 2008. If anybody is interested to contact me, drop me an email and we can go Legal together against this Bank's Home Loan Department specifically.

My Email is amish4u1983(at)gmail(dot)com

I check my emails frequently and would certainly reply back ASAP.

-Amish