I am narrating my story as an individual, however I do feel that many of you feel the same way and if that is the case, do support this petition

On 2012/13, I have decided to go for an apartment in electronic city,Bangalore. Belonging from a middle class family, it was a tough decision considering I have to manage the EMI for good 20 years as I am in service sector along with fulfilling my family needs. 

I thought the investment will be worth since I will have my own house post 20 years and thus I started the process.. The sales executives was polite and kind like always and has asked for some documents post which the loan got approved.. Really a quick process and I think all of you must have also experienced it....

The real problem started after getting the loan. After sometime, the home loan rates have started increasing on which, I was aware that my tenure will also increase but what I wasn't made aware is that it will not decrease automatically when even if RBI reduces the repo rate... So I started writing to Indiabulls to reduce my internet rate on which, i understood, it is subject to decision from Indiabulls.. I understand that its not a free business and with a hope that it will reduce some day, i was paying my EMI ontime.

Then one day, it strikes me that I am actually paying 10.8% vs. 8.5% which is offered to new customers and then I decided to transfer my home-loan to other bank(DHFL) for which some necessary documents were required... I approached Indiabulls for the same and with a polite note, i understood that it will take 1 month cycle (21 days) to process the documents. FYI - I asked for "List of document letter". A simple letter that could state the documents that I have submitted to Indiabulls while applying for loan.

I tried my best to followup with Indiabulls but no response until I started creating a scene on social media.. On this one, instead of releasing the letter, they shared foreclosure letter stating " date of foreclosure is 19th May for each day beyondamount of 641 will be charged as interest on daily basis"... Also there are some unnecessary charges attached to my account 

My question and request is very simple 

1) India-bulls delayed the whole process because of which legal team from DHFL is not releasing the amount, whose mistake is this ?

2) I have been paying all my EMI on time so from where Rs.5000 gets added into other dues.

3) Because of your lengthy process, I end up paying 1 month extra EMI. Who is responsible for that.

4) After releasing the letter, your Electronic City branch is on Kerala trip... Who is there to support ??

You have never reduced the home loan rates for existing customers and now when customer wants to move away , you have a problem with that..   

I feel that a lot of people face problem with India-bulls on interest rates fluctuations and if you are one of them, then support...  

Even if you are not an India bulls customer but you feel that my move and this petition is genuine, then support... 

If you feel that companies like Indiabulls should be blacklisted because they just offer mental trauma to their customers on top of hefty interest rates that they charge, do support

Please find full details of the way Indiabulls respond below 

https://twitter.com/ibhomeloans/status/864383346574360577

Thank you so much for reading it 

Regards

Madan Mohan