Private banks are the worst offenders in this regard. There is no transparency or method in applying RoI (floating) changes uniformly across existing borrowers. There are banks who also change the applicable rate on an absolutely ad-hoc basis. PSU banks are much more transparent in this regard though the hassle of dealing with them may sometimes be a real put-off.
You are absolutely right..banks do keep on changing the rates for the new customers whereas existing customers are not offered that benefit when the rates go down..and also increase their benchmark rate when the rate goes up..but give discounts for new customers..I see all the banks doing the same..In such a scenario shouldn't some norms be laid down for banks so that customers are not fleeced..
Dear Sir, I have a house at Chennai, however being in a transferable job, I am not residing at Chennai. I want to give the house on rent. Since all my relatives have moved out of Chennai, I am finding it difficult to identify a suitable tenent and thereafter monitor the state of the house on a regular basis once it is given on rent. Kindly advice me if there are any suitable agencies with good reputation who can help me in identifying a good tenent and thereafter helping me in monitoring the state of the house once it is on rent. Regards Harikrishna
