Comments
Sir,
I had taken a home loan at the rate of 10% from SBI in month of December, 2008.recently i came to know that the interest rate of 8% anounce of the Central Govenment. so i am requested to bank is chares of interest rate of 10.How can any bank increase the interest rate without any reason.They say it is because of RBI guidelines.Now what do i do?.It is giving me a financial burden.
please help
anil kumar
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I had taken a home loan at the rate of 10% from SBI in month of December, 2008.recently i came to know that the interest rate of 8% anounce of the Central Govenment. so i am requested to bank is chares of interest rate of 10.How can any bank increase the interest rate without any reason.They say it is because of RBI guidelines.Now what do i do?.It is giving me a financial burden.
please help
anil kumar
[protected]
Sir
I had taken a home loan from SBI in March 2005 @ fixed rate of 7.5%. The loan agreement clearly mentions that it is a special rate as agreed with our builders and fixed in nature. In spite of this, SBI has raised my loan interest rate to 9.75% (a whopping increase of 2.25%) effective from November 2008, without bothering to inform me. When I approached the concerned Manager, he had the gall to tell me that SBI need not inform the customers about changes to the interest rate. He said that they can change the interest rate as and when they please, citing some RBI guidelines. He also told me to foreclose the Loan and seek other funding institutions. So much for customer care. I am not aware of any such RBI guidelines. I am a senior citizen and retired from service. This increased interest rate is going to be an additional burden which would be very difficult for me to meet. What do I do? Which forum should I address to, and seek redressal?
M V Rajagopal
[protected]
I had taken a home loan from SBI in March 2005 @ fixed rate of 7.5%. The loan agreement clearly mentions that it is a special rate as agreed with our builders and fixed in nature. In spite of this, SBI has raised my loan interest rate to 9.75% (a whopping increase of 2.25%) effective from November 2008, without bothering to inform me. When I approached the concerned Manager, he had the gall to tell me that SBI need not inform the customers about changes to the interest rate. He said that they can change the interest rate as and when they please, citing some RBI guidelines. He also told me to foreclose the Loan and seek other funding institutions. So much for customer care. I am not aware of any such RBI guidelines. I am a senior citizen and retired from service. This increased interest rate is going to be an additional burden which would be very difficult for me to meet. What do I do? Which forum should I address to, and seek redressal?
M V Rajagopal
[protected]
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I had taken a home loan at fixed rate at 7.5% from SBI in AUG.- 2005.recently i came to know that my interest rate has been increased without any notice.How can any bank increase the interest(fixed rate) rate without any reason.They say it is because of RBI guidelines.Now what do i do?.It is giving me a financial burden.
please help
regards..
R. P. ATHOLE
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