The bank has invariably increased the interest rates at every possible opportunity
15 February 2010 | Read 773 times | Comments (0) | recomended (3)
15 February 2010 | Read 773 times | Comments (0) | recomended (3)
Common_voice from Mumbai said :
I took a home loan in the last quarter of 2004 from IDBI bank.When I applied, I was promised the floating interest rate of 7.25%. It took almost 1 month for them to sanction the loan,that too was done at a floating rate of 7.5%. The interest rate is FLOATING in true sense of the word right from the applying for loan to the sanctioning included!!!As per the clause of agreement with the bank, the rate will be analysed every quarter of the year and can be revised twice a year.The bank has invariably increased the interest rates at every possible opportunity since then.This is not the case with my loan alone. All the other people - friends,colleagues I know have been going through the same torture.All this despite the fact that their fresh loans are still being sanctioned at the rate of 7.25% (as advertised in the newspapers by the bank) and at 7.5% as taken by some of my friends recently. This phenomena is inexplicable on the banks part. This shows that we are being cheated by the bank.If you have similar experiences, please get in touch with me. As mentioned above, me and my friends and colleagues are already planning to raise the issue with the bank. We are looking forward to more voices against this cheating.
I took a home loan in the last quarter of 2004 from IDBI bank.When I applied, I was promised the floating interest rate of 7.25%. It took almost 1 month for them to sanction the loan,that too was done at a floating rate of 7.5%. The interest rate is FLOATING in true sense of the word right from the applying for loan to the sanctioning included!!!As per the clause of agreement with the bank, the rate will be analysed every quarter of the year and can be revised twice a year.The bank has invariably increased the interest rates at every possible opportunity since then.This is not the case with my loan alone. All the other people - friends,colleagues I know have been going through the same torture.All this despite the fact that their fresh loans are still being sanctioned at the rate of 7.25% (as advertised in the newspapers by the bank) and at 7.5% as taken by some of my friends recently. This phenomena is inexplicable on the banks part. This shows that we are being cheated by the bank.If you have similar experiences, please get in touch with me. As mentioned above, me and my friends and colleagues are already planning to raise the issue with the bank. We are looking forward to more voices against this cheating.
Recommend this review :
 |
 |
Comments on this Review(0)
PK said :
10 December 2010
Yes your correct, you will be into complete trap, dont go for any private banks all are same, the IDBI is worst, they have all hidden notes which you will come to know only once you strat re-payment. this is my personal experiance. The bulk payment als
10 December 2010
Yes your correct, you will be into complete trap, dont go for any private banks all are same, the IDBI is worst, they have all hidden notes which you will come to know only once you strat re-payment. this is my personal experiance. The bulk payment als
Prashant Mohan said :
16 December 2010
I do agree with it. Even I got a floating loan at 7.5 % in the last quarter of 2005..
16 December 2010
I do agree with it. Even I got a floating loan at 7.5 % in the last quarter of 2005..
Usha said :
27 December 2011
yes compared to other banks the rate of interest is high in this bank
27 December 2011
yes compared to other banks the rate of interest is high in this bank
