Hi,
I took a home loan in HDFC approx 2 years back. Now, I would like to transfer this loan to any other nationalized bank, but they charge 3% for loan transfer. This is too high. Only because of high rate of interest, Im planning for loan transfer.
HDFC always charges high rate of interest.
Please do take some action against the 3% charges for loan transfer. I am not sure, whether this charge is approved by RBI or bank itself is charging this amount. They make huge money by this high rate of interest and extra charges.
Thanks,
Murali Was this information helpful? | 
1. I had taken home loan from Kotak Mahindra Bank for purchase of Flat.
2. Alongwith they had also given me Home Linked Insurance Plan
3. I wanted to close the home loan and returned the disbursed amount towards flat
4. The Bank is asking for premium amount of Rs.80, 000/- as against theInsurance, which shall stand cancelled upon cancellation of home loan.
5. The problem is i have to now refund the aforesaid amount of Rs.80, 000/- out of hand for no benefit of anything.
6. The Bank has been insisting in asking me to pay this amount and I do not have that kind of big money to be paid to the bank for want of nothing.
7. The Bank has now charged huge interest, penalties, charges etc., which is totally amounting to Rs.2 lakhs approx. and is harassing me everyday to repay the principal alongwith the aforesaid charges, penalties, premium etc., which is unethical and unlawful.
8. How can the insurance can get activated when the Flat itself is not ready and Sale Deed has not yet happened, how can there be insurance for something which is not eexisting?
9. I am put to severe mental harrassment, injury pain and loss and I am afraid how to pay this 2 lakhs of penalty, interest etc., which I am not liable to pay and from where?
10. Kindly suggest remedy and direct the way towards justice. I have the entire Principal Amount with me which I have kept safely and is ready to return to the Bank.
Regards,
Shylaja Srinivas