Saraswat Bank — Regarding floating interest on home loan

Address:	Mumbai City, Maharashtra
Website:	Www.consumercomplaint.in

Sir .we have taken home loan on November 2016 at that time interest rate was 9.50% for floating rate after 4 months bank reduces interest upto 8.60% but this rate is still not applicable for us why? . Bank people are saying that they will observe us for 1 year I don't for what . what is the meant of floating rate ? If in future interest rate increases bank will not observe anything infact they dont even send msg directly increase our rate of interest, than why creating such problems to customers at the time of decreasing the interest rate?