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Unfair Floating Rate Hike & Non-Disclosure by Vastu Housing Finance


25-Sep-2025 (In Recovery Law)
In July 2018, I took a LAP of ₹10.6L from Vastu Housing Finance via broker, with ₹4L top-up in 2019, at a floating rate. EMI was ₹25K monthly till Mar 2025, total paid ~₹17L, yet outstanding is ₹12.45L. I later learned NBFC raised rate to 20.5% saying repo hikes auto-raise interest, but cuts need customer request—this was never disclosed. Despite repo not matching, my loan stayed high, causing huge loss.
Answers (3)

Answer #1
605 votes
To ensure comprehensive understanding, a formal legal notice will be issued. A consultation can be scheduled to provide detailed elaboration, and we would also appreciate the opportunity to review the relevant documentation.
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Advocate Anurag Bhatt

Adv. Anurag Bhatt

LawRato Allahabad | 700+ Answers
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Answer #2
925 votes
Your matter is not just about excess EMI—it falls under unfair trade practice, deficiency of service, and possible violation of RBI/NHB circulars on fair lending. Many NBFCs exploit borrowers using such hidden clauses. Courts and Consumer Commissions have taken strict views in similar cases, where lenders failed to pass repo-linked benefits to borrowers. You have solid grounds to: File a Consumer Complaint for refund of excess interest + compensation. Escalate to RBI Ombudsman / NHB grievance cell. Even consider a Civil Suit for recovery of wrongful gains by the NBFC. If you want, I can review your loan agreement, repayment schedule, and sanction letter. With proper documentation, this case can be escalated effectively—even through e-filing from home—to force the NBFC to account for your losses.
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Advocate Vaibhav Sangam Mishra

Adv. Vaibhav Sangam Mishra

LawRatoLucknow | 50+ Answers
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Answer #3
526 votes
Talaq/Divorce ke tarike Agar dono husband–wife raazi hain, to aap Mutual Consent Divorce file kar sakte ho. Condition: minimum 1 saal alag rehna aur dono ka divorce par sahmati hona zaroori hai. Agar aapki biwi divorce ke liye raazi nahi hoti, to aap Contested Divorce file kar sakte ho, jisme aapko ground (kaaran) dikhana padega
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Advocate Namrata Pandey

Adv. Namrata Pandey

LawRatoLucknow | 50+ Answers
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