Axis Bank Power Home loan
CHEATED BY THE BANK
- 02-04-2009
- 158
Dear Sir,
Ref: My Home Loan Sanction Approval No. 142637 Dt.16-09
With refer to my housing loan agreement No. PH 0420100098532 -, with AXIS BANK, MALL ROAD, LUDHIANA
My housing loan was sanctioned on 16-09 with interest rate being 2.75% less than the MRR as per my Power Home Sancton Letter. At that time bank MRR is 14.25% as per my sanction Housing loan documents Rate of interest charged to me is 11.5 % (14.25 %- 2.75 %).
In Loan Sanction Letter it is clearly mention that
Interest rate type ==== Floating Rate Linked with Bank MRR .
At the time of disbursment bank provide me loan at 11.5% (14.25-2.75=11.5 %). At present bank MRR is reduced to 13.00 which means my interest should be 10.25 % (13.00 - 2.75), reduced to that extend. But bank have not reduce my interest rate till date.
When I contact your bank, You Bank simply reduce the interest rate from 11.5 % to 11.25 % (just 0.25 % to make me happy) whereas your MRR reduced by 1..25 % (from 14.25 % to 12.5 %)
It the responsibility of the bank to reduce the interest rates charged if the MRR reduced. I feel that I was cheated by the AXIS BANK LTD .
My mobile No. is 9316917308 My email address is v_somani@yahoo.com
Company: Axis Bank Power Home loan
Country: India