Dear Sir. I borrow a home loan of INR 2000000.00 from Can Fin Homes Ltd. to purchase a flat in Bengaluru city. My home loan number is 177.Current interest rate applied is 10.95%. My monthly EMI is 19531.00. As RBI has reduced repo rate, I requested said company to reduce interest rate at prevailing rate on out standing amount of my home loan. My out standing amount is INR 425000.00. In reply to my request, company has advise me to pay INR 2603.00(0.5%) as conversion fees. The amount of conversion fees demanded is just equal to the amount that I may gain after reduction of interest rate. ( company has offered 10.25% I.R.).
On receipt of above stated reply from the company, I mailed to company's grievances redressal forum with a request to pass on suitable instruction to concerned authority of the company to reduce interest rate on my loan without charging any kind of fees. But to my surprise, grievances reddressal forum reply me within one hour stating that they are not Bank hence RBI guide line is not applicable to them & turned down my request.
As per my belief, company should give benefit of reduced interest rate on my out standing home loan amount without recovering any charge. Sir, I never missed any EMI to pay, on the contrary I made prepayment of the amount approx. INR 1200000.00.
Looking to the above fact, it is my humble request to you sir, please pass on necessary instructions to the above said company to give benefit of reduced interest rate on my home loan without recovering any charges for the same.
Thanking You,
Viralkumar Patel
#303, Chethana Meadows,
Hadosiddapura, Sarajapur Road,
Carmelaram Post,
BENGALURU-560035
Phone: [protected]
email:[protected]@gmail.com Was this information helpful? |
Can Fin Homes — Asking additional money to reduce interest rate
I took loan from Can fin homes, jaya nagar branch @11.25 now to reduce the rate of interest 10. 75 they are asking to pay .5% for 70Lacs, even though we didnt took entire please help on this