ashishgupta09
KF Rookie
Hi everyone,
I’ve been dealing with a frustrating issue related to my home loan with Axis Bank. According to the loan agreement, repo rate changes are supposed to be passed on only during fixed quarterly reset dates — 25th March, June, September, and December. The bank has used this clause to delay the application of a recent repo rate reduction I was expecting.
However, I’ve found clear evidence from my loan’s interest revision history that rate increases have been applied outside of these scheduled reset dates — including hikes in January and February. This seems like a clear case of selective application of policy — where increases are passed on immediately, but reductions are delayed.
Despite escalating the issue through three levels within Axis Bank, all I’ve received are template responses that repeat the policy without answering why the bank deviated from it in the past.
Has anyone else faced something similar & got the matter resolved?
Are there effective options beyond the bank's internal grievance redressal — like the Banking Ombudsman or RBI Consumer Protection?
I'm asking the bank to adjust the effective dates of ROI increase & align them to the reset dates mentioned in the agreement. Is my ask genuine?
Would really appreciate any advice or shared experiences. Thank you!
I’ve been dealing with a frustrating issue related to my home loan with Axis Bank. According to the loan agreement, repo rate changes are supposed to be passed on only during fixed quarterly reset dates — 25th March, June, September, and December. The bank has used this clause to delay the application of a recent repo rate reduction I was expecting.
However, I’ve found clear evidence from my loan’s interest revision history that rate increases have been applied outside of these scheduled reset dates — including hikes in January and February. This seems like a clear case of selective application of policy — where increases are passed on immediately, but reductions are delayed.
Despite escalating the issue through three levels within Axis Bank, all I’ve received are template responses that repeat the policy without answering why the bank deviated from it in the past.
Has anyone else faced something similar & got the matter resolved? Are there effective options beyond the bank's internal grievance redressal — like the Banking Ombudsman or RBI Consumer Protection? I'm asking the bank to adjust the effective dates of ROI increase & align them to the reset dates mentioned in the agreement. Is my ask genuine?Would really appreciate any advice or shared experiences. Thank you!
