Consumer Redressal

Dear sir Please find below the complaint letter copy submitted to HDFC Ltd, for which no satisfactory reply is received from them. 24/7/2019 To HDFC House, H T Parekh Marg, 165-166,Backbay Reclamation, Churchgate,Mumbai - 400 020. Dear sir Ref – Complaint related to my Home Loan Account No – 218321837 Initial repayment tenure – From 1/9/2009 To 31/10/2023 - Rs.20688. Revised Increased Repayment Tenure To 1/12/2026 I had availed Home Loan as per the details mentioned above. I had opted for the ‘Loan Repayment Tenure’ till the time of my ‘Service Retirement’. However, during my recent visits to your office, I am told that due to changes in Interest rates from time to time, my loan repayment tenure is now extended to 1/12/2026. Which means, the repayment tenure has been increased by almost – 3 Years. I am told, this is because upward revision of Interest Rates. This is unfair & unjust, as I had planned & made provision to repay the loan only till my Retirement Year, 2023, when I will turn 60 year old. How can I pay the EMI after that till 2026 when I will have ‘No Monthly Earning’. I would also like to know, in my repayment schedule - just as there was automatic effect of upward revision of Interest, has such effect automatically happened when the Interest rate got reduced. I am told by your officer that I should have checked myself all the time since 2009 if there is reduction in the interest rate & will have to pay some fees to HDFC to get the benefit of reduced interest rate. This is very unfair & unjust .Logically, I should have automatically got the benefit whenever the interest rate got lower. I would like to know if such benefit was passed on to me or not. If yes, please provide the details of the same in my amortization statement. If No, then I request you to make the correction in my revised extended repayment schedule as mentioned earlier. Please revert back urgently on the matter. With regards Rajeshwar M Karpe 7738367047