I had written a review a few days ago on the experience I had with a bank at https://mouthshut.com/review/Kotak_Mahindra_Bank-155164-1.html. I’m now following that up with a detailed blog on the subject of home loan borrowing which I hope will help new borrowers to make better decisions. My blog is titled’5 golden rules of home loan borrowing’ and is available at https://enadru.blog.co.in/. Please read them at your leisure and get back to me with your comments, if any.
In summary, India still has a fairly primitive system of administering home loans leading to banks posting huge profits with steep growths every year. However the cost of this is borne by hapless consumers with hardly anyone to complain about(as is rightly mentioned by some of our friends here sharing their experience with RBI ombudsman and consumer courts). I feel it’s time that we as consumers start some type of campaign to force govt and banks to straighten the system.
Regards,
PK