Hello Friends,
I am Bhavik a NRI based in melbourne australia. I had taken a floating homeloan from HDFC in late 2007. I was specifically agreed that THERE ARE NO PREPAYMENT CHARGES AND YOU CAN PAY OFF THE FULL LOAN ANYTIME WITHOUT PENALTY. I had reconfirmed that manytimes as I specifically took floating loan to have the flexibility of prepayment.
Now when I have started making significant prepayment, i am getting all sorts of troubles. HDFC started giving all sort of reasons about charging me prepayment penalties and other charges. The reasons they give is not consistent with company policy, like"because disbursement was done after april you are supposed to pay prepayment charges" other one says"because you signed a contract late you will be charges prepayment charges"
My contract DOES NOT SAY ANYTHING ABOUT 2 PERCENT PREPAYENT CHARGES WHILE THE RECENT CONTRACT MENTIONS ABOUT IT. I have also been asked to pay extra few thousand rupees to bring my interest rate down as my loan falls between 0-30 lacs bracket.
Now what type of customer service is this? Where does it say that we have to pay extra penalty to bring down the interest rate
HDFC is the worst bank to take a home loan from. ALL NRI residing overseas, take my words, DO NOT TAKE ANY HOMELOAN FROM HDFC. THEY ARE THE WORST IN COMMITMENT AND CAN COMEUP WITH ANY SORT OF PENALTIES ANYTIME.
I am not at all satisfied with HDFC and am trying to get rid of it as soon as possible.
Bhavik Bhatt melbourne australia
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