I have taken 40L loan from SBI chinchwad, and I opted for MAX Gain facility.
In July, I paid one time charged to reduce the interest rates which was updated to 10.10 after this payment. After that, along with repo rate changes the rates again went increasing and by december it reached 10.4.
I have parked around 14L surplus to control the interest outflow on my loan.
on 20-Dec-13, SBI published updated interest rates on their site, which mentioned 10.25% for loan below 75 L. I enquired at my home branch and I was told that this rate is for new customers only. same answer was given by Kalewadi Phata branch manager. When I logged a complaint, I received call from Mumbai office saying these published rates are applicable for all customers (old and new), then again I enquired to my home branch, but the branch manager Mr. Pandey told me that there are different rules according to which my interest rate is correct and my complaint got closed.
Please let me know how and where to follow up on this? Am I cheated by SBI? can I check with RACPC?