I have a home loan took in Dec at the ROI of 8.25 on Step up method. This is the worst home loan method to suck the maximum blood from a consumer. First 2 years none of the amount from the EMI goes for Principal amount. Due to this currently in Apr my tenure has increased to 20 more years from 15 to 35, ROI increased from 8.25 to 12.5 and also theb outstanding amount has been increased to 80, 000 more.
This shows till now what ever I have paid is just the interest part and the increase in tenure. Also still not able to understand why they are not able to decerese the interest rate compared to other banks.
Also suggestion for other people is to not to go for a any multinational bank for a home loan.
Please suggest is there any way for me to go for a cosumer court and get rid of this.
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