Name of company/service: AIR INDIA CHARTERS LTD
I avinash shetty was having home loan with standard chartered bank under a/c no 47367288 since 2008,
The home loan was a floating ROI, the banking at time of loan disbursement gave very lucrative rate which was less than most of the banks operating in India.
After 3 months it started increasing the ROI as per inflation index but the rise was more than other banks. Now after 4years the ROI 13.002% when all the other banks are charging 10.75%.
When called the bank for such difference in ROI charged to me the reply was shocking as per the banking officer standard chartered is a multinational bank and the not govern by RBI guild line.
The ROI charges was so exorbitant that I was forced to transfer the loan to UNION BANK OF INDIA which was me 10.75% at present. The loan of amount 0f 48,4000 INR after paying for 4 years stand same .
I did a payment of 25 lakhs till date but the loan which I closed I made a payment of 47 lakhs.
All the money paid till date was shown gone in interest component.
I just want to know can a bank operating in India and have different operating guideline from RBI,
Second how can a bank 24 lakhs interest on 48 lakhs loan in 4 years and take away hard earn moneys of people.
Please help me filling case against standard chartered bank.
I ‘ll provide all the details the account no.