This is a discussion on HSBC still not reducing Home Loan Interest Rate, charging 11.75% within the Home Loan forums, part of the Loan category; I am customer of Home Loan from HSBC. I took the loan from HSBC 3 years ago, at 10% pa. ...
HSBC still not reducing Home Loan Interest Rate, charging 11.75% I am customer of Home Loan from HSBC. I took the loan from HSBC 3 years ago, at 10% pa.
Over the 2 years, till Aug-2008, they increased the ROI many times, taking it to 12.25%.
However, when it cam to reducing ROI as done by all other banks including HDFC/ICICI, HSBC has been shy. I called them many times, but no action/response.
I don't know what all I can do? Can they really exploit an ordinary citizen like this? Does our country has any way to handle this?
Please help.
Regards
Onkar
Close the accoutn I had taken a loan too from HSBC but after seeing their consistency in increasing the rates I switched over to a nationalised bank in September 2008. At that time HSBC was charging 12.5% and Union bank of India was charging 11% floating. After the switchover, Union bank of india reduced the interest rates and it is at 9%, so a saving of 3% interest compared to HSBC. I will recover the costs incurred for the switchover within a year. I am happy with my decision. hope you do not delay.
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