I had availed a home loan from Indiabulls Housing Finance Ltd., which I have requested for foreclosure. To my knowledge the RBI has a clear guidelines and policy that no lender shall levy foreclosure charges on home loan.

However the said Indiabulls Housing Finance has not only harassed us for one or the other reason and delayed in giving us the closure statement but have also levied foreclosure charges @ 2 % on the outstanding amount of which we have the receipt as issued by them. Upon drawing their attention on the RBI rule they pleaded ignorant and have said all such rules exist only on papers and I am not the only one they are charging but such charges are taken from everyone, I can not be the exception.

You are requested to kindly do the needful.