- Unacceptable increase in ROI for home loan and home insurance account Open
Unacceptable increase in ROI for a home loan and home insurance account nos. *********/*********.
Grievance on Home loan a/c ********* -
*. Why an increase is made after every RBI increase in base points but decreases never happens?
*. I took the loan with *.*% ROI for an amount of ** lacs for ** years. As on April ****, after ** EMI payments of Rs. *****/pm my total outstanding principal is Rs. ******* (*.*%) against an agreed outstanding principal of Rs ******* (*.*%) resulting in an additional payout of Rs. *****. This resulted in my loan term getting increased to *** months increasing my outstanding payment by Rs. ****** (******** months) @ **.***% additional to the agreed *** months repayment schedule. This is not acceptable and is not going to accept this change.
*. Why for loan re-spread, the additional charge is levied to existing customers whereas, for new customers, ROI is relaxed? Currently, LOI is *.*% and for re-spread with charges of ****+GST, it would be *.**? Why existing and hardworking customers like me are cheated like this and the rates are not transparent and in line with RBI mandate. On what grounds, you levy these charges to customers in the most unethical manner possible?
Grievance on Home insurance a/c no - *********
*. The total premium agreed for insurance SI of ** lacs was Rs.****** and even after paying for almost * years with EMI of **** pm, total premium paid till May **** is Rs. *****, the outstanding premium for home insurance stands as ****** as on April **** which is unacceptable. This is highly unethical to increase the ROI to *.*% and outstanding premium for a fixed and agreed Sum Insured policy.
*. Instead of securing my life for ***% in home insurance, both I and my wife was secured reducing the risk coverage to half of the SI. This makes no sense to me as I am the earning member and paying the EMI. I have reported this matter and mailed to HDFC limited on the same but nothing has happened to my favour.
*. The policy was also issued six months late and till date, I do not possess the hard copy of the issued policy document. Even after several requests to update the policy and hard copy document, nothing has happened yet.
*. Why I have to suffer/continue with this policy in this case of pure cheat and no willful intention from Hdfc ltd to resolve the matter amicably.
*. I have no other option escalating this issue to the Ombudsman level/Zonal level.
As a result, I have planned to transfer my home loan to another bank and withdraw my home insurance policy with no additional payout.
Please help me get the total loss amount of Rs. ***** for home insurance premium paid till date and I seek justification from HDFC on this unethical practice of not following home loan ROI wrt RBI mandate and increasing my outstanding principal by Rs. ******. The total loss to me on account of this change is Rs. ******.
Are you brand?
Are you Lawyer?
An apology letter from company official
Get refund or credit for your purchase
Get service/product replaced or fixed for free
Get damages for financial loss and mental agony
"I'm thankful to team Voxya for their instant help & support. I got reply from Shinehunts which I was not getting earlier. I will recommend this useful platform."
I have process Topup loan of ₹ ****** in HDFC against my property. My loan passed successfully. But loan passed equity instead of topup. But at the time of disbursement HDFC send me offer letter. In the letter they mentioned in that you have...
Dec 23, 2018 by Dinesh Shantilal Bhatt
This is regarding Home Loan taken from HDFC with Loan Account # *********. Recently my trust was shattered when I have gone through the statement of my Home loan account. I have been given the understanding when I took a loan that rate of Inter...
Apr 22, 2019 by Sanjeev Goel
This is regarding the home loan processing fee refund. My loan a/c number is *********. When I requested for the balance transfer to HDFC. Got an offer in an e-mail stating that the processing fees will be adjusted in the first month EMI. But t...
Mar 23, 2019 by Sandeep
Hi Sir, My Name is Ravi Kant Sharma, was having loan from HDFC Ltd ( Home loan file no. *********). I have paid all the dues and now waiting for my property paper since April' ****. I have been chasing up for this since last May'** but no o...
Sep 27, 2018 by Ravi Kant Sharma
I have applied to Balance Transfer in Hdfc Limited of my existing Home Loan (From Andhra Bank) with file no. *********. As per trailing mail dated **.**.****, my loan was approved, an offer letter also received by another mail. As per offer ...
Sep 06, 2017 by Manish Vikram Singh Shekhawat