State Bank of India — Non linear rate of interest

Address:

Nashik, Maharashtra

Some 12-15 months back SBI annouced a home loan scheme in which they offered lower interest rate compared to other banks which was 8%..this interest rate was fixed for one year and after that they said taht depend on market they will decide new interest rate...considering this as good scheme and reputation of SBI i transferred my homeloan from IDBI to SBI..recently i completed my first year of the scheme..and when i was waiting for new interst rate..i really shocked when i heard them..it is 9.75 %...i remeber when i preclosed my IDBI HL rate of interest was some 9 %..and if i continued over there it suppose to be 8.75 % now....but i think SBI trapped many of people like me showing carrot of 8 % and now they have taken us as granted and forced higher ROI values...I want SBI to rethink on there policy..they are leading position in banking sector..they should take care of there customers and there valueable faith on SBI..this forced policy is not going to work in future..every unhappy customer will scratch SBIs image on this issue.

Hope any positive action will be there.

With best Regards.
Bhushan