I took a floating home loan from HDFC in July 1995 and enter into an agreement wherein it was mentioned that account can be closed by paying the entire amount without any penalty if paid from its own sources but the clause for take over from other bank was not made explicite. it only says That borrower shall be entitled to prepay the loan entire partly or fully as per the rules of HDFC, including as to the prepayment charges for the time being in force in that behalf. When i decided to switch over from HDFC to BOB and approched to HDFC for florecloser amount on 6th Feb they issued a letter and calculated the penalty at the rate of 2% but for my surprised when I took for final letter they told foprecloser charges are revised and calculated the penalty @ 3% which no point of time was disclosed. in year 2008 also they told forecloser charges @2%.
They made me to pay forecloser charges @3% service tax which my opinion is fradulant on part of HDFC . I also wrote to them asking for explaination but no reply received. I want to take it up in consumer forum as I feel deeply cheated
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