Legal Question in Banking Law in India

I have taken home loan, with Sanction of 15.5 % p.a. interest rate floating.The bank has done agreement with me for interest rate if as per RBI rule interest rates will change minimum 7.50% to maximum 15.5 %.p.a. is applicable from Co-oprative Bank. After 5 month of loan disbursment lnterest rate come down form 2000 to 2004 up to 8.50 %.p.a. The bank has not given me the benifit of interest. Can I get this interest benifit from bank ? Can I file the case in consumer court for this interest benifit ?


Asked on 12/31/10, 9:31 pm

1 Answer from Attorneys
J. Radhakrishnan independent Practice

you can complain to the Banking Ombudsman. If he does not give relief, then you can complain to the consumer forum

Read more
Answered on 1/01/11, 4:47 am


Related Questions & Answers

More Banking Law questions and answers in India