State Bank Of India — Extra charge for effecting reduction in Home Loan rates

Address:

Pune, Maharashtra

I am a SBI Maxgain home loan account holder with account no. [protected]. I am being asked to pay additional 0.56% of Loan amount as extra charge to avail reduced loan rate of 9.9% as against existing 10.1%. Since my loan rate is floating, I shouldn't be charged any extra amount for such reductions due to base rate cut. The new rate benefits are only applicable to new borrowers as they say. This is dual standard policy as when the rates were being hiked we were no where compensated. This is against consumer rights and hence request you to kindly look into this unethical business practices and take this to RBI and Finance Ministry, so that these wrong doings can be prohibited.