Hdfc homeloan floating interest rate

You may go thru the loan offer letter, loan agreement, loan approval and terms and conditions.

If the bank personnel in loan section do not accede you may try by writing to MD

Aditya Puri at

aditya.puri @hadfcbank.com

You may go thru and use to resolve in your favor.

BCSBI:

4. Should banks communicate changes in interest rates?

Yes. The banks must inform you when they change interest rate on housing loan. (cf. para 3.3. of ‘Code of Bank’s Commitment to Customers.)

Ask the bank to give a copy of the revised repayment schedule of the loan every time the interest rate is revised.

10. What are the fees and charges applicable to the loan?

Generally, banks levy fees/ charges for:

·         processing loan application

·         documentation

·         late payment

·         changing the loan tenure

·         switching to a different loan package during the tenure

·         prepaying a portion or full loan

·         restructuring the loan

·         changing from fixed to floating interest rate loan and vice versa

Some of the other charges levied by banks are:

·         legal fee

·         technical inspection fee

·         recurring annual service fee

·         document retrieval charges, etc.

11. Do I have access to loan documents? If so, what are they?

Yes. You can have access to loan documents. Following are some important documents provided by banks:

·         letter of offer

·         copy of filled in loan application

·         copy of loan agreement

·         terms and conditions governing the housing loan

·         other documents such as schedule of fees and charges

Banks are required to give authenticated copies of documents executed by you free of charge. (cf. para 8.11.1 of Code of bank’s Commitment to Customers)

RBI:

3.         Principles of reasonableness in fixing, changing                                          46

                 and notifying service charges

If still bank do not yield, approach a competent and experienced consumer cases lawyer and thrash the bank in DCDRF.

If Bank is not reducing rate of interest you have another option to go for. Its Home loan balance Transfer. Shift your Houing loan to other bank that provides low interest rates. Take expert advice online for that and go through all bank rates once. That would be helpful.

I took home loan six months back from PNB housing finance @10.75, 2 months back they reduced interest rate to 10.50% but the didn't ask for any kind of conversion fees. It was automatically done & i got notification about the same through email. 

Please send an email to all the heads of HDFC bank, i am sure they will give you waiver of Rs 8000, you can also speak to there customer care team & threat them with home loan transfer option & i am sure they will do anything to ensure that u don't shift your home loan 

HDFC https://www.hdfc.com/others/hdfc_GrievanceRedressal.asp

HDFC’s website clearly states the options for conversion of home loans to avail of lower interest rates and it mentions the fees applicable under these options as well. f your loan scheme is subject to these fees as per your loan agreement then it is a valid charge by the bank.Given that it is a floating rate loan, the interest rates will fluctuate either upwards or downwards and banks looking to profit from this will try to lock-in loans at a higher rate which is why there is an option to convert to a lower rate but an automatic conversion to a higher rate.

visit https://www.bankbazaar.com/hdfc-home-loan.html for more information