Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

How will it affect the existing loans which are taken on floating intrest rate and are loan amout is under these limits.

Asked by Prashanth Nair, 16 Dec '08 05:48 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (2)

1.

Unfortunately, there is no change for existing home loan customers. They are cheated by banks and have to continue to pay the burden. Private sector banks like ICICI are the front runner in cheating people and Govt. is giving a blind eye to them.
Answered by Amit Tyagi, 16 Dec '08 06:43 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
2.

The meaning of floating interest it self says that it vary from time to time according to market situation. If any bank gives loan to new customer at lower rate and dose not reduce it for old customer, they are cheating with old customer, the new customer shuld also think about honeast of such banks because later on they will also become old customer.
Answered by SUNIL AGRAWAL, 16 Dec '08 05:52 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining

Related Answer

Q.
A

Indiainfoline is the second largest demat cum broking listed company in India after Indiabulls. Some of the salient features of the Indiainfoline (al..more

Answered by krish