HDFC
Prepayment Charges
- 01-16-2009
- 221
I recently approached HDFC for repayment of my existing loan by transferring the balance to another bank. As I am a floating rate customer, I should not be charged pre-payment charges. However, HDFC still has charged me pre-payment charges on the pretext that prepayment charges is not applicable only if you repay out of your own funds.
SBI has recently lost a case in the supreme court for charging prepayment penalty on balance transfer. But, our financial institutions simply refuse to learn from mistakes.
Please suggest/help.
Company: HDFC
Country: India