[Resolved]  Credila Financial Services — Penalty for early repayment of Education Loan

Address:

Mumbai City, Maharashtra

My son availed education loan from Credila in 2012. We, the parents already started paying the EMIs of the said loan. My son is now interested to repay the entire loan. But Credila is demanding penalty for early payment of the balance loan. My question here is that RBI has made it clear that there will not be any penalty or additional interest for early payment of balance loan. Why Credila should demand it? What is way out to fight it out?