I took a personal loan of 2, 20, 000 from HDFC bank way back in Mar 06 for a tenure of 4 yrs. As a result my last EMI to be paid is on 7-Feb-10. But due to a home loan application, I had requested the bank to provide me the foreclosure statement and here is the complete hands down of the whole incident:
Principal Outstanding: 11, 418.89
Late Payment Penalty Charges: 23.00
Interest till date of Prepayment: 64.69
Prepayment Charges @4% on Outstanding Principal : 456.76
TOTAL AMOUNT PAYABLE: 11, 963.34
Where as actual interest is hardly 167.11, which means if I just wait till Feb I would be paying only 11586, HDFC is charging me extra 377 just to close my personal loan!
Another shockers - for a 6 month account statement they would charge you 110.3
Besides your spouse can’t even deposit cash on behalf of you!
I would like to thank all individuals whoever have alerted us from this cheat bank.