Axis Bank Indore
Bank has not inform us hike interest rate
- 09-06-2011
- 262
My father has taken loan against commercial property on dt.20.11.05 of Rs.525000/-@ 9.75% & EMI Rs.6865/ per month for 10 years from Kamal palace branch indore M.P. I have receive rate increase letter only two time. First in 30 April & second in 24 August. In first letter bank has inform us that your tenure of loan has been revised to 128 month from the existing tenure of 103 month but not shown how much rate of interest increase. In second letter bank has suddenly increases rate of interest by 5.50% & also increase EMI by Rs.572, after all this bank has increases my loan period also. How all such things has been changed suddenly?
When my son go to Indore branch with this question, why bank has not inform us by letter time to time regarding increase in rate of interest, EMI & loan tenure no one is able to give him information regarding all such things.
Regards,
Vipin Neema
vipinneema@yahoo.co.in
Company: Axis Bank Indore
Country: India
State: Madhya Pradesh
City: Indore