IndiaBulls — increase of interest rate to 8.85% to 12.35% in 7 months

Address:Bangalore, Karnataka, 560049
Website:www.indiabulls.com

Hi,

I am nagesh, an existing customer of indiabulls and i started paying my home loan only from last may 2018. At start my initial interest rate was 8.85% and within 6 months they have increased to 1% and again in jan-2018 they have increased it to 12.35% without notifying anything about this.
I called customer care and written many mails to customer care but they use their standard reply like it is due to because of their imlr rates, rbi, inflation, due to market condition etc and they justify their increase in interest rates and they are not all ready to listen their customer concerns. Now i am thinking to transfer my existing loan to some other banks since my installment have been increased from 108 to 131 and with this i will be end of paying around 5 lakhs additional amount to them in next 10 years.
I know this is very unfair and unethical practice but since we agreed to all their conditions while entering to loan agreement not sure we can do anything on them : (.
Also checked with other banks they have increased a maximum by 0.5% in last 1 year not like india bulls who increase without any valid reasons.
If any one from india bulls want to look into my concern my account number is hhlbag00370327.
It would be really help if they are ready to keep my interest rate within 10% in next 5 years so otherwise very difficult to manage.

Regards,
Nagesh
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Dear Nagesh,

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

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.
Biggest Fraud and Cheater Company. Government have to take some actions against Indiabulls Group.

I started my commercial property loan in indiabulls before 15 months with the 10.35% rate of interest. Than they started to increasing roi every 2 to 3 months and now my roi is 13.50%. I visited the Indiabulls branch more than 20 times and i call to customer care many times but they didn't give a any reply and solution.

Indiabulls is the fraud and cheater company. Never take any type of loan from indiabulls and also prevent the peoples who are taking loans from Indiabulls and share your bad experience of Indiabulls with them. So they can take loans from other banks.
IndiaBulls Customer Care's response, Jan 28, 2019
Verified Support
Dear Customer (kanpak),

We understand your disappointment. We have re-escalated your concern to our team. Request your understanding in this regard.
IndiaBulls Customer Care's response, Feb 2, 2019
Verified Support
Dear Customer (kanpak),

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.
Since last 2 months i only get this single reply and your team reply with same answer. If you really understand my disappointment, then reduce my rate of interest. I don't know, Why are you kidding with customer's emotions ? I think indiabulls is not a company, it's a biggest scam.
IndiaBulls Customer Care's response, Jan 29, 2019
Verified Support
Dear Customer (kanpak),

We do understand that just expressing words would not help. However, we would like to assure you that we are working continuously to ensure that your issue will be resolved soon.
Your team is just get in touch with me nothing more than that. Since last 2 months they only get in touch with me but not doing anything else. Still my problem not solve. They giving same reply as before. If you have a no solution than why you get in touch with me ? Now i clearly understood that INDIABULLS IS BIGGEST SCAM.

INDIABULLS is the fraud and cheater company. I think it's not a company but it'a BIGGEST SCAM. Government have to take action against IndiaBulls. Never take any type of loan from indiabulls and also prevent the peoples who are taking loans from Indiabulls and share your bad experience of Indiabulls with them. So they can take loans from other banks.

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