Hi,
I had borrowed Rs.20 lakhs home loan from your Green Park Branch on 30/09 at the rate of 6.99% p.a. for 180 months. The installment per month collected by you for 10 months was fixed by you at Rs. 17333/= .Based on your un-abated increase in number of installments (re-payment period) almost every consecutive month without intimating me, I was left with no other option than to re-pay your loan in full and get rid of your clutches. When I pre-paid the entire loan amount on 31/07 (after 10 months), I landed up paying Rs. 2, 28, 020.21 (Principal=47, 357/=; Interest=1, 25, 973/=; Foreclosure Charges=43, 153.41; Interest for 1 month=10, 400.80; LPP Charges=1136.00).
Please note that the hefty Penalty Charges charged by you against pre-payment is totally unfair practice vide article appeared on the front page in Times Of India dated 18th September titled "Penalty for pre-paying loan unfair SC to decide".
Throuhh this request, I assert that please refund within 15 days, all the additional amount which exceeds the actual/prevailing loan rate, as that have been charged by you under different heads. Failing which I will not hesitate in approaching the Consumer forum along with the Newspaper cutting.
Thank you
Lalit Kaushalendra Tiwari
Senior Manager
HCL Comnet Limited
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