I took a loan from ING VYSYA bank in april, 2008. Just 2 months after I took the loan there was a increase in cash reserve ratio and repo rate by RBI. ING VYSYA immediately increased my intreset rate twice without wasting any time. I had taken a loan for 20 years and now due to increase in the interest rate, I need to pay my installments for 24 years and 5 months.
In the last 4 months RBI has reduced the repo rate and CRR several times. Many known banks have reduced their intrest rates for new and existing customers. I called up ING VYSYA several times and requested them to reduce the interest rate but all my request is going in Vain. There have increased my intrest rate twice but now they are not at all interested in reducing it even after RBI and the goverment has urged banks to reduce the interest rates.
There is one more major goof up. I have taken loan on my Flat no 601 but on all the documents of INGVYSYA bank it shows Flat no 602. I informed the customer service dept and the bank many times but they are doing nothing about it. The worst part is the provisional statement which I received is also on Flat no 602 which does not belong to me.
This is such a irresponsible and Pathetic bank that I regret taking a loan from these guys.