One More Reason, Why Banking Is Good - As Business, As Share Holder

One More Reason, Why Banking Is Good - As Business, As Share Holder

Just Visited One Private Bank for Closing of Commercial Loan (Property Loan) for Client,

Existing Loan was taken in 2007-2008 at 10.25% Floating rate,

after which rate hiked to 12% and after continuous rise in interest rate it stands right now at 14.25%.


suddenly, question raised in my mind so i asked "The Banker", 

what if i want to take a fresh loan ? the same commercial loan ?


The Banker replied :- Sir, do you have a current / saving a/c or a credit card of our bank ?

I :- No....

The Banker :- sir, as we want you to be a part of our banking family, I can offer you a best rate of loan to welcome you.

I :- Oh my god ! thank you . so nice of you :)

The Banker :- we offer you special rate of 12 % Floating rate for your property.

I :- Superb, so you mean ? the existing (my client who just closed the loan) client who is with you since 6-7 years add no more value to your family ? that you are charging him 14.5% & 12% to me as new customer? just to add me in your so called "Family" ?

The Banker :- he said this is a special offer on new loans only, on old loans 14.25% - 14.5% is only charged by banks.

Ultimately No answer was left......for him.......and finally my client paid off the existing loan.