Foreclosure Charges of Home loan

POSTED BY Kamlesh Tank ON September 11, 2012 3:19 pm COMMENTS (6)

Dear Sir,

With reference of above i would like to have guidance and necessary suggestion for the Home Loan Pre Closure Charges which is levy to me as i would like to pre close my Home Loan.

I took Home Loan as well as Home Top Up loan, Where as the cheque of home loan was issued in the name of Builder and cheque of Home top up loan was issued in our personal name. Now according to Circular from RBI and NHB the levy of Pre Closure charges on Home Loan has been removed.

Now my current bank is agree to waive Home Loan Pre Closure charges but they says they will continue to charge 2% Pre Closure charges on Home Top Up loan, while that comes in Home loan category and every norms they applies of Home Loan.
Kindly suggest me the best possible solution weather i should go with the BANKING OMBUDSMAN and filed the complaint on same??

Awaiting your quick and positive reply.

Thanking you,

Best Regards, Kamlesh Tank

6 replies on this article “Foreclosure Charges of Home loan”

  1. Kamlesh Tank says:

    Dear Ashal,

    I have not made written complaint to banking official but they gave me in written about the Home Top up loan fore closer charges and NIL charges of Home loan…further i warned them that i am going with BANKING OMBUDSMAN and filed the complaint on same, and no reaction from them till date.

    So before going to lodge complaint, i would like to make sure that how much BANKING OMBUDSMAN team co-operates and works.

    Thanks

    Kamlesh

  2. Kamlesh Tank says:

    Dear Ashal,

    I discussed with the all the senior person of the bank….they told one thing only the On Home Top up loan no circular from NHB or RBI so will be charge you 2% fore closer charges!!!

    So i would like to go for the BANKING OMBUDSMAN and filed the complaint on same, But before going to lodge complaint, i would like to make sure that how much BANKING OMBUDSMAN team co-operates and works.

    Thanks

    Kamlesh

    1. Dear Kamlesh, till date you have merely talked. What I want you to officially lodge a written complaint before moving to ombudsman. This is to represent your case that you had offered the bank a chance to rectify it’s mistake.

      Thanks

      Ashal

  3. Kamlesh Tank says:

    Yes….i have already paid with the fore closer charges…now would like to go for BANKING OMBUDSMAN and filed the complaint on same to get refund of my fore closer charges!!!

    1. Dear kamlesh, Please lodge a complaint first with the bank itself. Then only move ahead for Banking ombudsman.

      Thanks

      Ashal

  4. Dear Kamlesh, are you planning to pay back the loan in full?

    Thanks

    Ashal

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