IndiaBulls — home loan intt rate @ 13.60 wrongly charged on hhleok00121522

Jai Prakash Singhal

Address:

h.n. 176, Jain Colony, Gali No 4, Opposite PNB ATM, Ballabgarh-121004

Dear customer service,

Refer my home loan a/c no hhleok00121522 with indiabulls.

This is in regard to home loan interest rate charged on my above said a/c.

Kindly note the followings:

1) that as per your email dated[protected]As attached), you were charging interest rate @ 10.20% p. A. Till july 2018 on my indiabull home loan a/c.

2) that as per your email dated[protected]As attached), you increased your interest rates by 0.20%. This increase was with effect from august 1, 2018. Hence revised interest rate were 10.40% p. A. Wef oct 2018.

3) that as per your email dated[protected]As attached), you further increased your interest rates by another 0.20%. This increase was with effect from october 1, 2018. So new/increased interest rates were 10.60% p. A.

4) hence the latest interest rate increase was in october by 0.20% p. A. Accordingly, interest rate on my home loan should be 10.60% annually.

However, erroneously /co-incidently, i was charged interest rate @ 13.60%. But it should have been 10.60% as per your above attachment.

Kindly note that i am the only bread earner of my big family. And i have been regularly paying emi's (Without any default) on all my loan accounts i. E. Indiabull home loan, axis bank personal loan (12.99% taken 2017) etc...

You are requested to kindly refer your email dated[protected] on interest rate increase. And revisit my home loan interest rate afterwords.

You are requested to please be kind enough to charge interest rates as per your email. And do the needful for charging fair interest rate on my home loan a/c with indiabull.

Your compliementary response is awaited.

Thank you very much for your kind support.

Jai prakash singhal
Mobile [protected]

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IndiaBulls customer support has been notified about the posted complaint.

Sep 15, 2020

Updated by Jai Prakash Singhal Dear Customer Service,

Thank you very much for sharing 9 emails showing changes in your interest rates.

While seeing the above files, I found the followings:
1) That as per your 3rd email (in the order) dated[protected], you were charging interest rate @ 10.20% p.a. till July 2018 on my Indiabull home loan a/c.
2) That as per your 1st email (in the order) dated[protected], you increased your interest rates by 0.20%. This increase was with effect from August 1, 2018. Hence revised interest rate were 10.40% p.a. wef Oct 2018.
3) That as per your 2nd email (in the order) dated[protected], you further increased your interest rates by another 0.20%. This increase was with effect from October 1, 2018. So new/increased interest rates were 10.60% p.a.
4) Hence the latest interest rate increase was in October by 0.20% p.a. Accordingly, interest rate on my home loan should be 10.60% p.a
However, erroneously /co-incidently, I was charged interest rate @ 13.60%. But it should have been 10.60% as per your above attachment.

Kindly note that I am the only bread earner of my big family. And I have been regularly paying EMI's (without any default) on all my loan accounts i.e. Indiabull home loan, axis bank personal loan (12.99% taken 2017) etc...

You are requested to kindly refer your email dated[protected] on interest rate increase. And revisit my home loan interest rate afterwords.

You are requested to please be kind enough to charge interest rates as per your email. And do the needful for charging fair interest rate on my home loan a/c with indiabull.

Your compliementary response is awaited.

Thank you very much for your kind support.

(Jai Prakash Singhal)
Mobile [protected]