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Message: <blockquote data-quote="shiran987" data-source="post: 24069864" data-attributes="member: 90350">Check whether your loan is taken on Floating INterest rates ? If yes, the bank can increase the interest rates . If you have taken a loan on fixed interest rates, the rates "cannot be increased ". this is the point which you need to touch & understand first.If you are on floating rates, there is nothing much you can demand other than talking to them nicely and coming to an solution. As one of the member has suggested, you can obtain a lower rate loan from a different provider and settle this current outstanding. Atleast, on this point try to get the loan at a "Fixed Rate".Knowing the current economy situation of the country, it is not recommended to obtain loans at floating rates as the tendency is that rates will go up. Cheers. !!!</blockquote>

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