Any feasibility to get benefit? Whom we can approach for our rescue. I have been paying higher rate of interest on Home Loan A/c, rather to say interest component more in multiples.
Re: Will home loan rates ever be transparent?
by Prasad KVV on Feb 16, 2010 05:16 PM
you can approach your home loan financer to reschedule with newer rates, they are willing to do with some processing fee. All nationalised, private and international banks are rescheduling their existing clientele loan rates as per latest ones. Nothing wrong in approaching them directly.....TRY
Yes, the Pvt. Bnks / Co-operative Socities are charging very high interest rates, i approached a co-operative bank for home loan two years back, and the same was sanctioned @ interest rate 12% pa, due to recession most of the PSU banks and even pvt. banks reduced interest rates to 8.25% pa, however, the co-operative socy didn't reduce the interest rate, when asked they said we cannot reduce the interest rate as we are borrowing from Apex bank, during this recession period the world was suffering even the PSU banks and pvt. banks had reduced the interest rates the socy did not reduce, why did not the Govt. give directions to he socy's to reduce the interest rate, are the socy's are not under control of Govt. due to which i am suffering with huge burden & had to borrow from other sources and pay my EMI, it is heard that in some of the countries interest rate is zero %, why can't the Govt. make zero% interest atleast for basic amenities such as housing, education, the whole earning goes in paying in interest
In India Private Banks/Institutions are not atall sticking to the rules & regulations as our Politicians are fully supported to them for manipulating and crunch PUBLIC in order to get maximum benefits.Even Govt.Banks/Institutions are also doing the same thing to the PUBLIC. Both of them are working only on when the interest rates go-up and whenever the rates godown they simply keep MOM. Our Goverment is only a WATCHDOG.
