I have approached several banks in order to avail home loan for purchase of a flat which is under construction. I found a couple of nationalised banks offering less rate of interest as compared to the private banks. However, since the documentation & the processing time were more with nationalised banks, I had to go with HDFC. I requested HDFC for fixing interest rate for the first two years, like other banks have done, but it was denied then. My loan was sanctioned and partly disbursed in the 2nd week of November 2009. And now during the 1st week of December 2009, HDFC has announced that for new loans the rate of interest would be fixed until Mar 2012. I have approached HDFC again and requested to pass this benifit on to me, but they said it would not apply to existing customers and it was only for new loans disbursed since Dec 2009. I wish to highlight that whenever there is a upward rate revision, it gets passed on to all the customers, but if it is a downward one, it would apply only to new and not to existing customers. I don't see any justification here. Can some regulatory authority look into it and make necessary amendments to the Home Loan policy so as to make the interest rate uniform for all the customers?