| Address: Bangalore, Karnataka, 560043 |
Even though RBI reduced the home loan, TATA capital housing finance ltd (TCHFL) is not changing the rate of interest for the floating rate customers. If RBI increased the interest rate, it will be reflected immediately. To reduce the rate, TCHFL customer care and banking people are asking the money as a processiing fee to reduce the interest. What is the meaning of floating interest in this sense?
By considering this fact, I wanted to switch the back with takeover option (move to other bank). Then, TCHFL asking 5% preclosure/takeover fee. Even preclosure, why should I pay 5%? As per RBI rule, banks will not be permitted to charge foreclosure charges/pre-payment penalties on home loans on floating interest rate basis, with immediate effect. ( https://rbi.org.in/scripts/NotificationUser.aspx?Id=7258 ).
From day one, I requested the list of collected documents for the home loan. Till today, they have not given any hard copy or mailing from TCHFL.
In this sense, ICICI kind of banks are more professional.
Rathan Tata tells so many stories about ethics. What kind of ethics they are implementing inside their own organisations?!!
Avoid this kind of cheating banking sectors. RBI should monitor and give grades for the transparency of each bank. Was this information helpful? | 
