BHW-Birla Home Finance
Loan - Big trouble

Sir,

I got a loan of 32 lakhs (240 EMIs) from BHW-Birla home finance when the rate was 9.5% last year. In 2007 Mar/April they increased the rate to 11.5% and applied to my existing EMI. Now at the same time they have increased my number of EMIs to 337 from 240. My question is, Can they increase premium and tenure both at the same time? Please let me know what to do as I don't think it is appropriate (another 1% or 2% increase the number of tenure to 500 or more). Let me know if I am not clear about my query.

Thanks in advance

-Sujit

Company: BHW-Birla Home Finance
Country: India

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