POSTED BY December 2, 2014 5:08 pm ONE COMMENTON
Hi, I am a salaried professional. I have home loan with karnataka bank of amount 47,00,000 (floating interest 11.50%). I am paying EMI from last 16 months without any default. The loan agreement signed in Apr/2012 did had a clause of 1% penalty for loan switch-over.
Now i want to move the loan to corporation bank since interest rate is 10.25% floating. Now Karnataka bank is charging 1% penalty on outstanding loan amount. Shall i file a complaint in consumer forum for this penalty?