Indusind Bank — Car loan fraud for preclosure

Address:	Hyderabad, Andhra Pradesh, 500047
Website:	indusindbank

Hi All, I have a CAR Loan taken for 3.5 Lacs against MARUTI WAGONR. Due to personal Reasons I wanted to opt for PRE-Closure of my loan. which is lke 16 months before. As of now my outstading balance is 2.13 lacs including the rate of interest for the 16 months. As i am going close the loan now (that would be 16 months earlier) the bank wanted me to pay the total of 2.13 lacs for the entire 16 months period with interest amount though i am paying earlier. This is total fraud as it shouldnot be because normally as its a preclosure they should only take the preclosure charges on the outstanding principal amount and not on the outstanding total amount(including the interest). My question here is what is the point of preclosure if i have to pay the amount for the entire period which is 16 months. This is absolute Bank fraud between the Maruti Show room and the Bank. I will take this to the Prime ministers office for sure if i dont get the justice here.