India Infoline Finance [IIFL] — home loan interest rate increase without customer notification prospect no. il10002939

India Infoline Finance [IIFL] — home loan interest rate increase without customer notification prospect no. il10002939

A Amit1357Mishra

Hi, Name: amit mishra Home loan prospect no. Il10002939 This is amit mishra. I've a running home loan from last three year. The loan prospect no. Il10002939. I took this loan for 20 years at the rate of interest of 8.85%. I recently tried to check the remaining tenure, its showing 297 month which was 240 month earlier, and interest rate has increased from 8.85% to 9.85% without notifying me. So it mean i'll have to pay 57 more emi's and which will be around 16.5lac additional. This is really very unprofessional and i believe such behavior or cheating customer has to be stopped. Request you to please action on this immediately and revise my interest rare to previous. While repo has been consistently going down, why iifl has been increasing my interest rate. Please stop cheating customer to run long time in market. Thanks! Was this information helpful? No (0) Yes (0)
India Infoline Finance [IIFL] customer support has been notified about the posted complaint. Verified Support May 07, 2020 India Infoline Finance [IIFL] Customer Care's response Dear Customer, We are known for our exceptional attention in details and we regret that we missed the mark in your case. We understand that our official has spoken to you and have addressed the concern. Further you can call us on [protected] / [protected] or click on below link for your concerns. https://www.iifl.com/contact-us/home-loan/raise-a-request. Team IIFL May 09, 2020 Updated by Amit1357Mishra Dear IIFL, While I click on raise a request link given by you, I get 404 error. Please see the attached image. Also I received the call from your customer care stating that they can’t do anything currently may be I need to check with them next quarter. So it means I keep on paying the additional interest to IIFL which I’ve already been paying from last two years. I need the interest rate revised. How come it’s possible that RBI keep on reducing repo rate and your keeps going high. That is your challenge. In such a case customer interest rate will keep increasing and will be more than personal loan ROI and we end up paying the loan life time. For 20 year loan tenure we keep on paying the same for 50 year. There has to be a benchmark set by government. This is not at all fair and I’m not satisfied with response received. Just reduce my interest rate. Thanks!
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