[Resolved]  HDFC Bank — prepayment penalty

This is how, HDFC is recording high quarterly profits. They are cheating customers by imposing the higher pre-closer charges and interests for the existing customers. As the customers are paying high interest and not allowing to switch to the lower interests without paying the penalty, the HDFC bank is cheating customers and showing high profits.

I do not understand why RBI is not taking action on these bank for this kind of cheating.

I took a home loan in HDFC for my new flat and the flat is still in construction stage, so the flat is not registered in yet. Now I am selling the flat before registration, the approved loan amount is 50 Lakh and the outstanding balance on the loan is only 30 Lakh.

HDFC is charging me 2% prepayment penalty on the loan approved value, not on the outstanding value.

See the charges given on the loan application, it show the early redemption charge is application only in case of commercial refinance (my loan is Adjustable Rate Home Loan)
[protected]---- from loan application[protected]----
CHARGES:
For Fixed Rate Home Loans (FRHL) an early redemption charge of 2% of the
amount being prepaid is payable, if the amount being repaid is more than 25%
of the opening balance*. However, under Adjustable Rate Home Loans (ARHL)
option early redemption charges of 2% is payable only in case of commercial
refinance. You may be required to submit copies of your Bank Statments or any
other documents that HDFC deems necessary to verify the source of
prepayment.
[protected][protected]----

The prepayment charge in case of property sale is not mentioned anywhere in my loan agreement.
Is there any way I can close HDFC home loan without paying prepayment penalty?