[Resolved]  IndiaBulls — indiabulls home loan interest rate and loan tenure suddenly increased

Hello,

This is the regarding of home loan interest rate and loan tenure. Indiabulls suddenly increased my home loan interest rate and loan tenure without any prior intimation.

When i took loan that time the terms was interest rate 9.9% and tenure of 30 years (360 months)

After emi payment of 3 years and 6 months, the indiabulls portal showing my tenure period of 476 months (I. E. 39 years and 8 months) portal is not showing interest rate. After visit in indiabulls office they told that now my loan interest is 9.7 % which is less than the earlier interest rate.

Indiabulls have increased my emi amount and tenure also.

I will be switched to other bank, so look into this issue as soon as possible.

Regards,
Gajendra kakde
Home loan no. Hhlvra00241526
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Aug 7, 2021
Complaint marked as Resolved 
IndiaBulls customer support has been notified about the posted complaint.
Feb 27, 2019
Updated by Gajendra Kakde
How it is possible that at the time of taking loan, the interest rate was 9.9% and tenure is 30 years and after 3 years of EMI payment interest rate is 9.8 % and tenure is 40 Years?

How Tenure increased by 10 years after 3 years of period where the interest rate is equal to the rate at the time taking loan.

Regards
Gajendra Kakde
Complaint comments 

Comments

Dear Gajendra,

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

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.
Indiabulls home loan tenure increased from 252 months to 451 months and also ROI increased. Why is that so. Need a resolution on urgent basis. Do you mean we have to pay you double amount ?? Every time we see the statement, the tenure shows increased. We have taken moratorium during lock down only for 3 months.

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