HDFC Bank — Cannot transfer car loan

Address:

Mumbai City, Maharashtra

I took a car loan from HDFC bank in Mar'11. But now when I need to sell my car they are asking for prepayment charges as high as 5% and they do not have any provision to tranfer the loan on the buyers name provided his credit check is good. This is a clear case of looting from the customer. I feel the RBI should put in some norms where in such looting can be stopped. We are slogging whole day and we are looted of our har earned money by such lenders.