I do not understand when the rates are cut, the bank increase their rates. i have taken a loan from HDFC at the time it was 10.40 then increase to 10.65 and now 10.75 where the current rate is 1025. Please help
Re: Increase in rates for the existing borrowers
by nitin jain on May 13, 2014 02:19 PM
either visit hdfc branch or acess your account online and go for conversion. Your rate will again reduce to 10.25 with some min conversion charges
When ever there is a change, the first person to be victimized is an indian customer. Whether Government, RBI or a private firm, they change their strategy to suck the possible amount of blood from a common citizen.
This statement may be very generic but it is a truth and all indians may agree with me.
Loan itself is a business strategy of the market to increase the price drastically to attack a middle class man. No matter whatever an employee earns by burning his energy, end of the month, he has to look back for salary.
If i purchase a home for X rupees, in reality i am paying 2.5 times more in the name of loans. When I sell the aparment say after 15 years, I may be selling it for X/n amount where n is great than or equal to 3.
Customer is a King!. therefore everybody has a fundamental right to suck king's blood.
When ever there is a change, the first person to be victimized is an indian customer. Whether Government, RBI or a private firm, they change their strategy to suck the possible amount of blood from a common citizen.
This statement may be very generic but it is a truth and all indians may agree with me.
Loan itself is a business strategy of the market to increase the price drastically to attack a middle class man. No matter whatever an employee earns by burning his energy, end of the month, he has to look back for salary.
If i purchase a home for X rupees, in reality i am paying 2.5 times more in the name of loans. When I sell the aparment say after 15 years, I may be selling it for X/n amount where n is great than or equal to 3.
Customer is a King!. therefore everybody has a fundamental right to suck king's blood.
