Reserve Bank Of India [RBI] — home loan

Address:

Mumbai City, Maharashtra, 400066

Dear sir/madam,
I had taken a fixed interest home loan from icici bank and wanted to foreclose the account as i had sold my flat. However the bank is charging me 2% interest on foreclosure. The same is not applicable had it been a floating rate loan. I really donot understand why a customer should be penalised for paying back the loan. This is even more important as banks are facing huge npas and in many cases banks agree to negotiate with a defaulter and waive their interest.in this case the customer is penalised for repaying the loan which in my opinion is discouraging a customer from repaying the loan.

I request you to kindly look into the matter in the interest of customers.

Regards
Koushik