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HDFC Home Loan / interst rate

1 India Review updated:

Dear Sir,

I have HDFC bank home loan from last 2.5 yrs. Right now as every bank have down their interest rate which is around at 9 %. But HDFC bank still charging me 11.75% of interst rate.
Therefore I called their CCE & asked my query like why they are charging this much of higher interest rate for a old customer.

On this I got reply as I can decrese this interest rate by paying 0.5% on the principal outstanding amount. so my query is why bank is asking to customer to pay an extra amount for decresing the interest rate ? Why should I pay any extra amount for this ?

Also ... Initially bank offered me home loan & it was based on my monthly income & other related things. But as of now when bank is incresing their interst rate then why they are not considering the economical condition of their customer. This will not remains same all the time.

Please consider my complaint and do the needful.

Thanks & Regards


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  • Ve
      27th of Jul, 2010
    0 Votes

    Even I too got cheated by HFDC the same way and still looking for god to help us as neither the RBI nor the Government are doing nothing to save the people from these blood drinkers.

    I pray god to give proper mind to RBI & the GOVT to consider this issue soon and save the people from these banks. Please do not go for home loans in any bank that gives loan on their Bench Mark Lending Rate(like PLR /BPLR..) instead of BASE RATE.

  • Pa
      22nd of Jun, 2014
    0 Votes

    HDFC is exploiting the floating rate agreement based on RPLR in bad faith.
    Over the 12 months - 2013 - 2014, HDFC has increased the spread offered on new loans. The old customers remain tied to the existing spread as the RPLR remains unchanged.

    HDFC actually charges old customers to move them to a lower rate - even when there is no change in credit scores or other circumstances, with an excuse that the contract with HDFC specifies a spread.
    HDFC conveniently forgets that the agreement also requires HDFC to revise the RPLR. HDFC is simply gaming the agreements by playing around with the spreads.

    A good faith floating rate agreement requires HDFC should revise rates for all customers.

    Can someone advise is this can be taken to the consumer courts to change HDFCs behaviour?

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