CAN FIN HOMES LTD
Arbitrary increase in interest rate
I took a housing loan of 12 lacs from Can FinHomes Ltd. Bangalore in 2006 at 8.5% fixed rate against then prevailing floating rate of 7.5%. In July they hiked the rate of interest to 11% citing a silent clause in the agreement, i.e. "unforesenn and unexceptional market conditions". Now ...