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balapas
CSE.SAS
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SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
CSE.SAS- Posts : 263
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- Post n°1
SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by CSE.SAS Tue Nov 17, 2015 12:25 pm
balapas- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by balapas Wed Nov 18, 2015 4:04 pm
They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
කිත්සිරි ද සිල්වා- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by කිත්සිරි ද සිල්වා Wed Nov 18, 2015 4:51 pm
Unless the interest rates have been taken as flexible and not fixed ?
balapas wrote:They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
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balapas- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by balapas Wed Nov 18, 2015 5:15 pm
කිත්සිරි ද සිල්වා wrote:Unless the interest rates have been taken as flexible and not fixed ?balapas wrote:They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
This is for the fixed rate term loans. Unless its an unavoidable circumstances to increase I see this as a mean to show higher returns for coming quarters. Those who know ppl should dispute this and get it reversed.
කිත්සිරි ද සිල්වා- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by කිත්සිරි ද සිල්වා Wed Nov 18, 2015 5:20 pm
Looks very unethical.
(Although I hold SAMP in my Pf).
(Although I hold SAMP in my Pf).
balapas wrote:This is for the fixed rate term loans. Unless its an unavoidable circumstances to increase I see this as a mean to show higher returns for coming quarters. Those who know ppl should dispute this and get it reversed.කිත්සිරි ද සිල්වා wrote:Unless the interest rates have been taken as flexible and not fixed ?balapas wrote:They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
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First Guy- Posts : 2599
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by First Guy Thu Nov 19, 2015 8:23 am
That is quite surprising balapas. Are you sure about that?
But there are many who plead with the bank to reduce their fixed rate when the rates go down and the bank eventually reduces a bit in fear of them taking a cheaper loan from another bank and settling it.
But there are many who plead with the bank to reduce their fixed rate when the rates go down and the bank eventually reduces a bit in fear of them taking a cheaper loan from another bank and settling it.
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by serene Thu Nov 19, 2015 8:48 am
First Guy wrote:That is quite surprising balapas. Are you sure about that?
But there are many who plead with the bank to reduce their fixed rate when the rates go down and the bank eventually reduces a bit in fear of them taking a cheaper loan from another bank and settling it.
In the first place why there are two schemes of flexible and fixed interest rates
And also mind you we are not witnessed drastic change in interest rates in the market.
If this is true consequenses should be much much worse for the bank.
I still believe they cant do such to a person who took a fixed rate loan unless otherwise there is a Jilmart in the agreement.
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by balapas Thu Nov 19, 2015 9:23 am
I saw one of the agreements since a cousin of my wife had taken a professional loans. They marketed a loan scheme for professionals at 10% beginning of year. So after 7 months they want to increase. I believe these funds are already matched by the treasury to avoid risk and should not be increased. Seems like some jilmart. If cost of funds have increased and interest rate has to increase its a floating rate loan. How can it apply to a fixed rate loan. However dealing with banks is like dealing with the known devil so should be able to dispute it. Lesser the finance knowledge easier to push these schemes
Top Trader- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by Top Trader Thu Nov 19, 2015 10:32 am
balapas wrote:කිත්සිරි ද සිල්වා wrote:Unless the interest rates have been taken as flexible and not fixed ?balapas wrote:They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
This is for the fixed rate term loans. Unless its an unavoidable circumstances to increase I see this as a mean to show higher returns for coming quarters. Those who know ppl should dispute this and get it reversed.
Carefully go through the Offer Letter / Loan Agreement, if it is fixed for the full term of the loan without any review conditions, they can't increase the rate.
If still they increase 01st you can complain to the Financial Ombudsman, web add is given below
[You must be registered and logged in to see this link.]
If you are not satisfied with his decision, you can take legal action as well
කිත්සිරි ද සිල්වා- Top contributor
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Re: SAMPATH BANK (SAMP.N : LKR256.00)------Softlogic Equity Research
by කිත්සිරි ද සිල්වා Thu Nov 19, 2015 1:22 pm
Thanks TT. 
Top Trader wrote:balapas wrote:කිත්සිරි ද සිල්වා wrote:Unless the interest rates have been taken as flexible and not fixed ?balapas wrote:They have sent letters to most loan holders saying cost of funds have increased so the interest rate will increase by 1%. These guys are a joke in this way.
This is for the fixed rate term loans. Unless its an unavoidable circumstances to increase I see this as a mean to show higher returns for coming quarters. Those who know ppl should dispute this and get it reversed.
Carefully go through the Offer Letter / Loan Agreement, if it is fixed for the full term of the loan without any review conditions, they can't increase the rate.
If still they increase 01st you can complain to the Financial Ombudsman, web add is given below
[You must be registered and logged in to see this link.]
If you are not satisfied with his decision, you can take legal action as well
_________________
I am the wisest man alive, for I know one thing, and that is that I know nothing.
Socrates
කිත්සිරි ද සිල්වා- Top contributor
- Posts : 9679
Join date : 2014-02-23
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CT Report
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