Location/place: India
Name of company/service: home loan
Dear ConsumerForum,
I understand that as per RBI guidelines (RBI/2011-12/622
UBD.BPD.(PCB) CIR No. 41 /12.05.001/2011-12 June 26, 2012) my bank cannot charge me foreclosure charges on my home loan.
I have a home loan from Citibank, which was fixed for first 2 years, and is currently on floating interest. I want to the loan to be taken over by another bank, but Citibank insists that I have to pay 2% foreclosure as these were the terms signed by me.
Could you clarify what my position as a consumer is on this issue?
Thanks
Sachin Vaidya
Pune
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