HDFC BANK / HOUSING LOAN
Interest rate chaging

Sir,

I have been a home loan customer with HDFC for the past 9 years and regularly paying the same with out any delay. I have taken the loan in interst fluctuating mode, which was a biggest mistake. Now my complaint is that when ever there is a reduction in interest i havebeen asked to pay 5500 more to come to the ew slab . i paid 2 times in the last 9 years when they got reduced in the year 2007 and 2008. I started the same with 8% and after 2 times reduction which was from 8.75% to 8.5% and then 8.5% to 8.25% i paid the money to come to the slab. Now it has gone up and the present interest rate is 10.75%. I am keping on paying the money but the period remain the same. For new loans they are giving with lesser percentage. Sir, why is it so you have a customer who pay te same for last 9 years who as taken loan for 10 lakhs and still has a loan of 7 lakhs after paying 9 years. If we want to change the loan to the other bank again i have to pay some percentage to close. Sir, do you feel we are cheated. Again i am agraduate and in finance industry think about a common man who is loosing his house, lands etc to these private banks which is growing leaps and bounds and buying new corporates and making more profits to the share holders making poor and needy more poorer and needy.

regards

anand.hari

Company: HDFC BANK / HOUSING LOAN
Country: India
State: Tamil Nadu
City: Chennai

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