Issue Resolved Got sanctioned loan with more interest rate

[avikrish]

My colleague enquired about home loan in HDFC bank, he was assured interest rate as 8.6% , when he got sanctioned letter it is 8.9%.
He is fighting with the bank to cancel the loan application and he wants to get loan from new bank.

Wanted to know will the credit score gets impacted because of sanctioned letter from hdfc?

And any better way to solve it ?

Loan amount is 80lakhs without any collateral.

 

[Channakya]

There won’t be any much difference in the score . If the credit history is good .

 

[NAB]

First confirm the rate from the different bank. Then do the needful, cibil will record the hard enquiries, but that's fine.

 

[avikrish]

After numerous calls to bank manager, customer care representative, nodal officer, finally HDFC has agreed, and closed the loan they sanctioned and then gave a new loan with agreed interest rate.

Issue resolved for him, I am not sure if it's a great idea, cibil might hit very hard at him as 1 loan closed and opened another within short span .

Issue is resolved for my colleague.

 

[Zacobite]

After numerous calls to bank manager, customer care representative, nodal officer, finally HDFC has agreed, and closed the loan they sanctioned and then gave a new loan with agreed interest rate.

Issue resolved for him, I am not sure if it's a great idea, cibil might hit very hard at him as 1 loan closed and opened another within short span .

Issue is resolved for my colleague.

why wd they close a loan and open a new one... v strange.. they cd have just reduced the interest on original. loan.. something fishy here