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[Resolved]  HDFC Bank — Prepayment charges

At the time of taking disbursement I told my disbursement officer of HDFC that I would be prepaying a significant part of my amount in 15 days or so. And I specifically asked them whether there will be any prepayment charges. They categorically confirmed that there are no prepayment charges.

When I went to prepay, the bank retreated their statement and said that I have to pay 2% for amount that is more than 25% of the prinicipal outstanding and they levied those prepayment charges.

I am yet to reconcile with this shock and confusion that was created by HDFC.

Even their website says that there no prepayment charges if taken on floating rate.

I am not sure how to escalate this issue to higher authorities in HDFC now.
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Aug 13, 2020
Complaint marked as Resolved 
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Comments

Hi i have a credit card of HDFC bank.I have purchased sone goods of rs-6650 and i want to paid this amount in 6 month installemen i am requesting reagrding this matter for 25 days.but no body is giving me positive answer.Plz help me.I am very iritate.
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I have taken HDFC homeloan in 2007.At that time the pre payment charges was 2% but now they have raised to 3% and it is aganist the loan terms .This incriment is to stop the take over because SBI and canara Banks offers 8.5% for take over and fresh home loan.If they cannot reduce the interest rate should not prevent the facility given by other Banks.
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Join yahoo group with the name "hdfchomeloancustomers" to protest against HDFC for its unethical practices and harrassing its customers. We are already around 400 people in the group and talked to senior management of HDFC regarding our concern. Also one of the media house has decided to cover our story and highlight the problem faced by HDFC home loan customers because high interest rate and other problems with HDFC. Join the group and make the difference Also update your details in the database
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