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India Bulls — hhlhyd00416532: higher rate of interest rate

Hi team,

This is regarding my loan account interest rate. My loan account number is hhlhyd00416532. Loan was sanctioned at interest rate 8.65% in around feb 2018.in span of one year it has been revised to 12.05 percent which is around 39 percent change which is abnormal and exceptional in current market scenario.
Even for new customer india bulls providing loans at max 8.9 percent where as for me the rate of interest is 12.05 which is not acceptable even though i am existing customer. I am defiantly unhappy with the service provided.
Indiabulls.

When called customer care, the reason they are providing is market fluctuations however i do understand but how much rate of interest rate indiabulls can increase. It cant keep on increase the rate of interest like hell 12 percent which is beyond market interest rate provided by any other bank/nonbank in india currently.

So will you be able to help me on this

My contact number as follows
Lingam. [protected]@gmail.com
Contact number is [protected]
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Complaint comments  2 Comments     Updated: ShareTweet

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Dear Kondareddy,

Apologies for the inconvenience caused to you. We have escalated your concern to our team and will get in touch with you soon.
Dear Kondareddy,

We understand that our team got in touch with you and shared all the requisite information. Feel free to get in touch with us in case further assistance is required.

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    Serilingampally
    Andhra Pradesh
    India

    Complaint categoryCategory: Loans
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