Though there is a lot of directives given by the Finance Ministry to the banks, we find that the banks are still not reducing the home loan interest rates.
Though SBI PLR as at 1st Jan stands at 12.25%, ABN Amro Bank is still maintaining ABN PLR at 12.75% and on top of it they also charge a margin of 25%. Thereby making the home loan interest rate to be 13% when the SBI PLR is standing at 12.25%.
This is very unfair to the home loan consumers. On the one hand, we have not been receiving enough salary hike to pay the increasing home loan interest rates and the on the other hand, banks like ABN Amro Bank are not willing to change their PLR.
Is there no body monitoring these kind of unfair trade practices.
Always the middle class has to suffer because of these kind of practices.
Request you to please please help us.
Regards
Lokesh K V
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