Reliance Capital — higher interest rate for home loan

Address:	Mumbai City, Maharashtra
Website:	www.reliancehomefinance.com

My name is vittaladas bhat. I have taken home loan from reliance home finance in 2008. My home loan account no. Is rlhlban[protected].
I have been sending the constant communication to reliance home finance regarding the higher interest (11.25%) charged by them.

Even when the most of the banks and financial institutions are charging less than 9.5% now, reliance home finance charges higher interest rate of 11.25%. This has been the trend from reliance home finance.

Reliance home finance gives lesser percentage initially to the consumer to transfer the home loan from other banks / financial institutions and later increase the interest rate constantly without communication. This has been the regular practice of reliance home finance. For increase in interest rate, no one consult with us and talk rules when it comes to reduction of interest rate, the company expects us to come to the office and give the request and pay the charges. Is not unethical?

Since the loan is taken under floating rate of interest, the increase / decrease in rate has to happen automatically. But it is just one sided where only increase is happening automatically.

As floating interest rate, the increase and reduction has to happen automatically and not when the consumer asks for reduction.

How can i take up this issue? I can share all the communications from the beginning since 2008

Regards
Vittaladas bhat
E-mail: [protected]@gmail.com
Mobile: +91-[protected]