Complaint / review / scam report
First Blue Home Finance
High Intererst rate

First Blue Home Finance has communicated to me that it will charge 12.5% floating interest rate on my two home loans Rs. 11.25 Lakhs of loan account # D29/000318 which were disbursed in 2006 at a floating rate of 9.00%. In the market, other banks widely disbursed the home loans and to fresh customers by you at a rate lower than 10.5 %.

Fisrt Blue Home Finance which is a subsidiary of Dewan Housing Finance company was earlier known as Deutsche Post Bank Home Finance till 2010 and Birla BHW Home Finance till 2007.

These home loans were disbursed in 2006 at rate of 9.00% with a communication from BHW that the interest rates on my floating rate home loan will be kept at an interest rate which will be the lowest interest rate extended to any customer by BHW.

From May-2009, PD bank has charged floating interest at a rate of 9.75 % with additional deposit of Rs 12300/-. But now the same has been raised to 12.5% when the interest rates on home loans were lowered by RBI and other banks to around 9%.

There are huge foreclosure charges in case I try to move these home loans to some other bank.

Clearly the bank is trying to exploit me, the customer, by twisting my arm after it has created a situation that I remain with the this bank and it keeps charging me interest rates on my home loan as per the bank's wish and will.

Kindly look ito and help me. If you need any more details on this complaint, please contact me at;. I can provide my loan statements and communications from the bank to support the facts mentioned in my complaint
Author: Hemant Kumar Saini

Offender: First Blue Home Finance

Country: India   State: Rajasthan   City: Alwar

Category: Business & Finance


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