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STANDARD CHARTERED BANK Sandeep | Loans and Credit Cards | 1 Reply


Respected sir / madam Myself SANDEEP GROVER resident of B-2/ 174, Paschim Vihar, New Delhi- 63. I have to make a complaint against standard chartered bank. I had availed the loan from the bank on august 2003. At that time it was 6.5% on home loan and 7.5% on home saver. I had choose home saver a/c. after that they increased my rate of interest and bring it to 14.5 %( approx.) Without giving any information to me. When I came to know then I talked to them and asked for low rate of interest but they refused. Then, I decided to swift my loan a/c to another bank. I asked for fore closer letter from them, after that they told me they can reduce my rate of interest. They offered me 11.5% but I refused as I was getting 8% rate of interest from State bank of Patiala. In all this year, I had paid all EMI regularly. It was in the month of April 2009 when I asked for fore closer letter. Now they don’t give fore closer letter. When I insist for 4-5 times and send many mail then they gave me a fore closer letter in the month of august adding 2.5% on balance loan amount for pre closer. This circular was passed in month of august itself. Then I talked to the manager in Punjabi bagh branch and then they removed the charges. As I had applied for fore-closer letter in the month of April. The amount which I had to pay was on the basis of august EMI clearance. I received a pre closer letter from them on 29th august 2009 and by draft on 2nd September 2009 I paid the loan amount. Then, I received a statement in which they had included EMI for the month of September. When I asked them, why they had added the EMI for the month of September when it’s clearly written on letter that the amount is to be paid by me is on the basis of august EMI clearing. They told me because I had made a payment on 19th September but when I showed the receipt in which they had received the payment on 2nd September they don’t had any answer. They replied that they have to ask there senior. But till today they didn’t replied me. More than 50 times I had visited there Punjabi bagh branch but even then they didn’t replied back. When I said if they don’t give me the answer then I have to go to consumer court. They said if I go to consumer court then they will put my name in the CIBIL and no other bank will entertain you.

By IndianMoney Experts - 2013-Jun-28
Dear Sandeep, Kindly contact the Standard Chartered Bank Customer Care on Toll free number 3940 4444 / 6601 4444 in order to resolve your complaint.Home Loan Balance Transfer is a refinancing option to get the existing home loan in one bank transferred to another bank in order to avail the benefits of a lower interest rate.Even when the central bank has reduced policy rates in the past, many banks didn\'t pass on the benefit of lower rates to their existing borrowers. This is probably the only sector where existing customers are given a raw deal when compared to newer customers.In fact, they should be given loyalty rewards in the form of lower interest rates. Yet, banks continue with the discriminatory practice of wooing newer customers with lower rates, while keeping the rates for their existing borrowers unchanged.If you have noticed that your current bank, like many others, follows this pattern, you have to find an immediate way out. However, if you find the new bank you are going to shift to also follows a similar path, you need to rethink your decision. Before making the switch, however, attempt to negotiate with your current lender.There have been several instances where the banks have agreed to re-price the loan when the borrowers expressed their intention to shift to another lender. They could levy a conversion fee of 0.5-1% of the loan amount for re-pricing the loan. In case the difference between the new rates offered by your existing lender and the new lender is not huge, you could consider opting for the conversion route. It will help you avoid the paperwork involved in entering into a new home loan contract. CIBIL is a credit Information Company which helps businesses secure loans faster and on better terms. This helps to eliminate fraud from the system. CIBIL maintains and collects records pertaining to loan repayments and credit card bill repayments of individuals submitted by banks and other financial institutions on a monthly basis. It then assigns credit scores to loan applicants which helps evaluate loan applicants for banks and financial institutions. Here can help you to make the necessary Financial Planning decisions, if you wish to avail this unique free service from, just give a missed call on 02261816111.
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