Indiabulls Housing Finance Limited — RBI Directives to Shift to MCLR based Home Loan not provided | |||
Indiabulls Housing Finance Limited not shifting our Home Loan to MCLR link based. We had written email to them. The email content sent to M/S Indiabulls Housing Finance Limited officials is pasted below for your kind reference: Subject: Shift Home loan account no.HHLBOR00169112 of Janet James Lobo and Home loan account no.HHLBOR00169111 of James Lobo to MCLR link based Home Loan Dear Ankit, As per telephonic talk today, please find link of the RBI notification on linking loan rate interest to MCLR - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10179&Mode=0 The objective of the RBI is to pass on the benefit of interest rate to the customer. Earlier, too I had to pay transfer fee for adjusting the home loan interest rate to the existing rate at that time and was informed this would be one time. Again now, the interest rate applicable to me is 9.60% which is much above the Home Loan rate provided to new customers. I hardly see the benefit to old customer and I am not happy with it. I therefore request my home loan rate to be linked to the MCLR rate so that any lower of interest rate to new customer is applicable to me as well. Regards, James Francis Lobo Reply Email Content received from M/S Indiabulls Housing Finance Limited officials is pasted below for your kind reference: Interaction[protected] Contact Contact Name: JAMES FRANCIS LOBO E-mail address: Contact ID: [protected] Interaction History E-mail received from Contact JAMES FRANCIS LOBO on January 04 2017, 06:28 PM From: JAMES FRANCIS LOBO To: Home Loans ([protected]@indiabulls.com) Date: Wednesday, January 04, 2017 06:27 PM Subject: MCIR rate (Home loan account no.HHLBOR00169112 of Janet James Lobo and Home loan account no.HHLBOR00169111 of James Lobo FYA From: Swati Jain [mailto:Swati.[protected]@indiabulls.com] Sent: 04 January 2017 17:18 To: swapna.[protected]@indiabulls.com; Leelakavita Cc: 'Ankit Goel'; 'Avtar Singh'; anupriya.[protected]@indiabulls.com; ROBIN.[protected]@INDIABULLS.COM; [protected]@indiabulls.com Subject: RE: MCIR rate (Home loan account no.HHLBOR00169112 of Janet James Lobo and Home loan account no.HHLBOR00169111 of James Lobo Team, Please send below reply to customer. To, Ms. Janet James Lobo, Loan Account Number: HHLBOR00169112 Respected Ma’am, This is in reference to your mail dated January 2, 2016 regarding rate of interest of your availed loan. Please note that you have availed a home loan vide LAN number HHLBOR00169112 at floating rate of interest (FRR) from Indiabulls Housing Finance Limited. Floating rate of interest is fixed by the Asset- Liability (ALCO) committee from time to time taking into considerations primarily the cost of funds, cost of operations adding with various risk components and minimum expected return on equity. However, end application of FRR varies from client/class of clients to clients on the basis of risk assessment of the client for loan, quantity of loans. Also, market conditions & liquidity position is taken into consideration before offering final rate on +/- on the FRR. We would like to notify that the request made by you to link your availed home loan with MCLR is not permissible as per our current policy. In order to reduce the margin, we suggest you to opt for switch policy. Through this option, by paying a nominal “Switch Fee” you would be able to avail a lower rate of interest. If you have any further query or need assistance, you are requested to visit our nearest branch or you may feel free to call our customer helpline[protected]Toll free) or write to us at [protected]@indiabulls.com. Yours faithfully, Indiabulls Housing Finance Limited Best Regards, Swati Jain | Operations Indiabulls Housing Finance Limited Indiabulls House, First Floor, 448-451, Udyog Vihar, Phase V, Gurugram, Haryana-122001 D: 0124 – 6681179 Was this information helpful? | |||
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