Reserve Bank Of India [RBI] — Dena bank - charges highest interest rate as base rate + 1 option

Address:	600062
Website:	denabank.com

Subject – dena bank charges high interest rate.

I have took hosing loan in dena bank and i have been charged as 10.70 as an interest rate now and this seems to be too high comparing other nationalized banks or even few private banks.
When i have asked this, i have been told that i have signed an paper 6 years before as base rate + 1 option. That mean i need to pay base rate + 1.. Which 10.6 right now.
I have been asking many times to bank to reduce the rate of interest. I’m seeing many banks are giving option to pay partial amount or.5 % of outstanding amount to reduce the interest rate.
My bank doesn’t give me any option and i’m paying this higher interest since i took the loan.

Before opting for an balance transfer to other banks, i would like to understand whether do you have any policy for banks which would allow them to review the interest rate.
Right now i’m paying 10.6 % of interest for housing loan.. Which is too high.. Please help me to get this clarified.


Below are the explanation i got from dena bank while question for higher interest rate.
The housing loan of rs.11.50 lakhs sanctioned on 18/05/2010 with the interest rate of bplr-3.75%+tp=9.25%
And now charging the rate of interest is 10.70% as per converted into base rate. [mr. Antony boobalan[protected]].

Besides additional housing loan of rs.2.90 lakhs sanctioned on[protected] with the rate of interest dbbr+0.45%+tp=9.25% and now it is dbbr=9.70+0.45+0.50=10.65% charging in the housing loan account no[protected].