Consumer Complaints Against Axis Bank - Prepayment of Vehicle Loan Penalty

Fri, 22 Apr 2016 - BANKING - Chhattisgarh
Harassed Consumer person
Chhattisgarh State
BANKING Industry
Axis Bank Company
NA dispute
NA claim
Complaint Details

Sir, I Have taken a Car Loan from Axis Bank, am trying to close the loan amount and the are asking me to do a pre closure payment of 5% of principal and service tax for it, and i read in online that on May 7 2014 RBI has asked all the banks to not charge for the pre-closure of vehicle and home loans, is it true, do I have to pay 5% of the principal amount to the Bank or can I raise a complaint. please advice thanks. Id=8868&Mode=news/prepayment-penalty-personal-car-loans-gone-792 Note: I tried contacting the RBI website contact us and its down for almost 3 weeks and not even Chennai RBI email is working that's why raising it here.

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