| Name of Complainant | |
| Date of Complaint | June 25, 2023 |
| Name(s) of companies complained against | IDFC FIRST BANK |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
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Iam Sai Kumar Kusuma , I took a personal loan of Rs 300000-/- under the floating rate of interest in IDFC first bank through a telephone conservation with IDFC first bank executive. The loan account number is 67788712. At the time of taking the loan the IDFC executive told there will be no foreclosure charges, if you want to preclosure the loan after 1 year. And after paying the 15 EMI’s , I requested the bank to foreclose the loan. But now they added 5% of foreclosure charges to the balance loan amount by stating that it is their bank’s rule. But the RBI circular stated not to take foreclosure charges or prepayment penalty charges on the floating interest rate loans from the individuals. But how come the IDFC first bank charges the foreclosure charges on me by violating the RBI’s circular. As Iam the individual and taken the personal loan on individual basis and not on any other business purposes, so how come the bank charges me with 5% of foreclosure charges. I need justice. Thankyou.
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