Hi friends,

Need your help in understanding the below issue.

I have applied for home loan and was approved by SBI in hyderabad yesterday.

My question is, i had taken a car loan in 2010 on my name but that was paid by my dad. During my loan processing the SBI people said this is a liability on my name and the loan amount cant be sanctioned as much as i request (I asked for 28 lac for 20 yrs tenure, they say they can only do 24 lacs with tenure 25 yrs. If the amount needed is more, they say that the tenure should be increased to 30 yrs).

The bank guy who collects documents and help me fill the application forms assured me that i will get the 28 lacs loan. Now i got the loan sanctioned. But the interest rate is 10.15% for 25 years as against 10.05% existing currently for SBI HL. Can a bank alter the existing interest rate on home loan for individual customer??