Cholamandalam — foreclosure charges @ 4% charged

Address:422103

I want to close my cholamandalam loan after one year. But they are charging 4 % forclosure 43000. This charges are double of what principal i have paid in year with regular timely repayment of installments. How they are allowed to charge such charges even after the circular of rbi regarding the non levy of such charges.
Circular ref in attachment.
+1 photos
Was this information helpful?
No (3)
Yes (22)
Complaint comments 

Comments

if i want to get my loan balance back in full, do i have to pay extra charge for that?

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Cholamandalam
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    22%
    Complaints
    227
    Pending
    0
    Resolved
    49
    View all Cholamandalam contact information