I took a loan from HDFC last year and propose to prepay asap. Yesterday Lower Parel branch informed me that with effect from 1 May borrowers can prepay the loan only two times in a year. Firstly, this is completely unfair as they are already taking prepayment penalty. Secondly, they have not even informed the borrowers of this important change of rule and they are bold enough to tell me openly that they do not need to inform me. Assuming that this change is legal, they should have at least informed the borrowers in advance. They did not even inform me when I went to prepay in June. I do not even have the rules which HDFC is implementing. How do I proceed?
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