I had taken a housing loan in March'2004 from CanFin Homes Limited, a subsidiary of Canara Bank. As per my loan sanction letter, there would only be a prepayment charges @3% in case of the loan libility is taking over by any other financial / lending institution.
Now in June'2008, I closed this loan account by depositing the outstanding amount arranged from my own savings including my General Providend Fund (GPF) and the loan libility is not taken over by any other financial / lending institution. But in this case also I have been charged for PREPAYMENT CHARGES.
I, repeatedly represented my case to the authorities including Chef Manager of the loaning branch and corporate office through emails, letter and FAX stating that the fact of there should not be a prepayment charges as per their sanction letter in my case, but urfortunately, I have not received no any response from the CanFin Homes Limited in this regard.
I also requested for the refund of the Prepayment Charges which I had to deposite at the time of loan closure.