[Resolved]  HDFC Bank Limited — Pre-payment charge

I had taken a home loan from HDFC Limited more than 2 years ago. As part of the contract I was required to pay 2% should I wish to pre-pay my loan. When SBI came up with a new scheme of 8% fixed interest for one year, I decided to swap my loan to SBI. I took a final loan account statement from HDFC to pre-pay the loan. The statement showed 2% pre-payment charge.

However, when it came to actual disbursement HDFC increased the pre-payment fees to 3%. Even thought the statement I had says 2% charges, I was made to pay 3% charges. I am now going to take whatever actions I can against 3% because I believe this is clearly a restrictive act on behalf of HDFC to stop customer to going to abother competitive bank.

I would urge evebody to reconsider your decision to take loans from HDFC Limited because they can increase charges as and when they need.

Dinesh Jangid
[protected]