HOME loan transfer from BOP to hdfc bank
Increase rate of interest without any communication

Our loan is transfer from BOP to HDFC bank. At today's date interest rate charged to us is 12%. When is asked for explanation on why as other bank already offering 8- 9.25%, their reply is as follow

As a measure of transparency, the rationale behind the revision in rates has been highlighted in our letter dated December 10th and we request you to accept this. Our Home Loan PLR was increased by 0.75 % in July, 0.75 % in August and has been revised downward by 0.5 % in December. The net increase of 1 % applied with effect from December 1st.

Our Bank could not react during July/ August due to the ongoing process of merger of the erstwhile Centurion Bank of Punjab Ltd. This has indirectly resulted in a huge benefit to our esteemed home loan customers.

PLEASE HELP THIS WAY OUR LOAN WILL NEVER END TILL WE DIE.

REGARDS

Company: HOME loan transfer from BOP to hdfc bank
Country: India

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