Normally Home Loans with floating rate of interest are to charged with the current rate of interest only. But in case of HDFC, whenever there is any increase in interest rate, it applies to the existing Home Loans as well as to the new disbursements. But in case there is any decrease in interest rates, it applies it to the new Home Loan disbursements only and the existing Home Loans are being charged with increased rates. A clarification is required in this respect. Kindly also let me know the regulatory authority who regulates the Home Loans.
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