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SKY (TL)     24 January 2022

High home loan interest rate

Hello Sir/Madam,
Good day!
I'm Sathish from Bangalore. I have taken home loan from Aadhar Housing finance ltd (previously called as DHFL vysya bank) in 2010 for Rs 13,50,000/- at 10% floating interest rate for 180 months.
Currently i have repaid 19,00,000/- till now without any default in repayment. I'm still paying without any stoppage.

My current outstanding principal is 10,44,000/- and EMI tenure changed from 180 to 262 months with current interest rate is 12.15%.
I came to know about this only when visited AHFL in March 2021 to close the home loan account. 
I did request for some percentage of principal waive-off, so that i can close off the home loan account. They are not agreeing for the same and ready to give me 2 % interest rate reduction now.
All these days they have increased interest rate from 10% to 12.75% without any intimation to me and recovered only interest.
I do not want to continue with this NBFC and wanted to close home loan account either with waiver on principal amount or one time settlement.

If i continue with reduction in interest rate what they are offering now, they will certainly increase again without any intimation and increase the tenure as well.

Please advise how can i close this home loan account with waiver in principal amount.



 2 Replies

Archana Pandey   04 February 2022

Dear Mr. Sathish, 

In such a challenging situation, you may give a try to ICICI bank's Disha and Bank of India's Abhay, a debt counselling centre which offers free services and will guide you further. Or you can approach institution like Credit Sudhar, although they are chargeable and offers advice to the borrowers. 

1 Like

SKY (TL)     09 February 2022

Thanks for your response Archana Madam. Is there any possibility for one time settlement on Home loan for non-defaulters. I never defaulted any payment for all these 11 years duration.

If yes, do let me know how to proceed.




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