Hi All
I have a home loan account running with Centralized Bank since Oct 2008. The loan was taken against floating interest rate.
It is noticed that the interest charged against my account is way above the base rate and constantly fluctuating. It started with 3.5% margin and has been fluctuating around 4-6% (margin) percent currently. Am pasting a graph which would provide more details.
Queries
1. Please guide if there is any issue here and what further can be pursued.
2. Would like to understand my options by keeping the existing HL with the bank.
3. Please guide me as to how I can approach the current bank and push to get more transparency and better deal.
Thanks in anticipation
Regards
Sudhir