| Website: homefinance.adityabirlacapital.com |
I have taken a housing loan from Aditya Birla Housing Finance Ltd. against a property Jointly owned by Me & My Wife. Loan was taken in our individual name but I being a business man and not salaried person Aditya Birla Housing Finance Ltd. told me to compulsory add my Brother as Guarantor but smartly they also made company as Co-Applicant. We had made some pre payment of our existing loan to reduce our burden of EMI in this critical time of Corona & plan to foreclose the loan by shifting it to other bank which is offering at lower rate of interest.
As per RBI directive no for Pre Payment Penalty & Forclosure charges can be levied on any home loan. It can be levied on term loan taken for business purpose only.
They ( ABHFL ) going against RBI directive & have forcefully deducted 4% as Part Pre Payment charges & indirectly compelling me to forcefully continue with their extremly high percentage of home loan which is raised to 16.25% ( ARR ) where normal rates for home loans are around 7.25 to 7.5%
I would like to raise a dispute for wrongly charging of Part Pre Payment penalty of 4 % as well as heavily charging of rate of interest at 16.25 % ( ARR ) whereas sanctioned was 10.21% ( ABHFL Reference rate less offset 5.54 % ).
Request to please help to sort out the said issue. Was this information helpful? | 
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