HDB Financial Services — High interest charged and not allowing me to close the loan

Address:

Thiruvananthapuram, Kerala, 695006

I (ambu j j - loan no. 594900) has taken a personal loan on 31/01/2014 of amount 1, 50,[protected].00 after processing fee). the representative (robin) who approached me said the interest rate as 16 %. i also asked about the pre-closure details. he said you can close the loan at anytime after 1 year and there own be any penalty.

When i verified the details of loan i found that the bank is charging more than 16%.
I approached the bank and asked the interest rate and i was informed that the interest rate is 21 % which is 5 % greater than what your representative conveyed.

I had paid the last 30 months of emi without any penalty. i am paying rs.5651/- as emi (ie for 21% rate) instead of rs.5274/- (if the interest rate is 16%). i couldn't have taken the loan if the representative said the interest rate is 21%.

The second thing is regarding the closure of loan.
When i asked about the closure procedure in the bank on 2/6/2016, the person said that i have to pay a penalty of 4% of the balance amount as interest and service taxes of that amount.

I already raised the complaint to trivandrum branch and to customer support several times via email.in - order to reply via email, i have to register my email id. now i registered my email with you. (in order to register my email id with the bank i visited the bank 3 times).

I approached your bank (trivandrum branch for 3 times between 15/07/2016 and 4/08/2016) for closing my loan. each time i am gett6ing negative responses and your people are not allowing me to close my loan amount. i tried to contact your bm several times but cound'nt meet him.

Thanks & regards,
Ambu j j