I've taken a Home loan for purchasing a DDA Flat from M/s.Reliance Home Finance Ltd. vide their Loan A/c. No. RHHLDEL000002710 under Floating Intt.rate @8.5% on 16/3/10 - as written on their "Welcome Lt. dt. 16/3/2010" but within two years they increase my Loan Intt. rate to 13.25% which is un-ethical. And specially as Govt., have given a respite for pre-payment charges as NIL, I've approach Andhra Bank for a take-over of my balance loan and they agreed upon.
But to my utter surprise, when I approach Reliance Home Fin. for a foreclosure of my loan they charged me 2.25% as pre-payment charges, showing an excuse that my Loan was semi-floating. They were using the term Floating in different time in different manners.
At the beginning they used my Loan status as "FLOATING" now giving another name as "SEMI-FLOATING" All these type of companies are making money by various tractice.
On Saturday 2nd June'12 when I approach them with Andhra Bank Pay-Order for foreclosure of my Home Loan they took 2-days Bank Pay Order clearance charges. On the Foreclosure statement nothing was written as towards DD clearance charges.
All we know Bank Draft / Pay Order is suppose to be a valid mode of payment, which every organisation accepts as good as "Cash", nobody can think of any charges for clearance of a Bank Draft
As such, I would request your honour to look into the whole episode of Reliance Home Finance Ltd., in my case and direct the company to reverse my Loan pre-payment charges Rs.25, 240-71 & Bank Pay Order Clearance charges Rs.779-00.