Why DISCRIMINATION between OLD/EXISTING and NEW home loan customer.
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The first dream of every common man is a house of his/her own and the first thing that gives him/her the strength to is a home loan. Once we have compared the rate with all the bank/financial institutions we choose to go for with the one with the lowest interest rate. But can we assure ourselves that it's the best till the end?? No matter if the government budget pulls it down to benefit us. The answer is "NO".
Every time there is a change in rate (if it gets lower) you see big hoarding to attract new customers. But what about the existing customers. But after seeing the ads we call the bank/ financial institutions and we are informed that it's only for new customers "DISCRIMINATION". Sounds like " you have been already CONNED now relax" and enjoy the old rate. Then comes the new trick to pacify you when you get irate. There is a conversion charge if you wish to avail the new rates, but the new rate will not be the same which new customer is getting it will be higher(we feel why we have to pay conversion charges when I have already paid what has been asked for in the past). So politely they have just said give us an opportunity we will call u again and this will happen to you everyone when the rate goes down. I wish to bring to light a simple thing when the government changes the rate it should for every individual. It is unfair that only the new customer gets the benefit. Look forward to your support to ensure that if you have taken a loan or might be in the process of taking a loan or planning to take one. Once you have taken it you will face the same issue with every bank/financial institutions. So it's time to ensure that the manipulation stops and we too get to enjoy the small benefits without paying any conversion charges.
Our request to the authorities to look into this below.
1) Why existing customer has to pay the conversion charges.
2) Why there is a discrimination between old and new customers in terms of rates.
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