BHW Home Finance
Unfair interest rate and charges

At the time of taking the Home loan, BHW insisted that rental be assigned to them. They took first 3 months EMI as PDCs dated 5th of every month, thereafter the rent was directly sent by our tenant to BHW.

1. After one year, BHW informed me that I have to pay interest charges for the every month since the EMI was due before the 1st of the month and the rent ususally was sent to them by the 5th of the month.

2. At the time of rental assignment, BHW studied the rental agreement and was OK with it. Also, the first 3 PDCs were filled by them as EMI on 5th of every month.

3. The loan was disbursed on 7th April and they want to charge interest form 1st April.

Internal informal sources say that the contraint is in their computer software. It is common knowledge that as per most rent agreements, rent is generally paid in the first week of the month.

The company AGM agreed that it was no fault of mine and promised to have all charges waived-off. Next week I found he was no longer in the company. Several e-mails and phone calls and there is no proper response form any of the company officials. Several of the staff agree that its no fault of mine, but I am just being harassed.

They have increased interest rates from 6.8% to 12.8% over 3 years, butnow when rates are going down, they are not doing so.

This company is unfair. Avoid it.

Company: BHW Home Finance
Country: India

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