At the time of Loan approval and Disbursment, Bank executive never inform all terms to their customer that if they want to pre-close a loan how and what charges there will be.
90% Customers are not aware of the banking rules and terms.
Also NBFCs make their own terms and conditions, get this signed by customer by saying these are just formalities and provide Loan amount with High ROI.
And if customer is getting a opportunity to transfer a loan with minimum ROI then NBFCs ask for the foreclosure charges which are also too high and if principal amount is big then customer will have to pay that much extra amount only as a charge.
is it really a fair deal for customer? Does it come under RBI norms? Are these charges should be taken ? Can't these charges waive off or reduce as per the customer requests?
90% Customers are not aware of the banking rules and terms.
Also NBFCs make their own terms and conditions, get this signed by customer by saying these are just formalities and provide Loan amount with High ROI.
And if customer is getting a opportunity to transfer a loan with minimum ROI then NBFCs ask for the foreclosure charges which are also too high and if principal amount is big then customer will have to pay that much extra amount only as a charge.
is it really a fair deal for customer? Does it come under RBI norms? Are these charges should be taken ? Can't these charges waive off or reduce as per the customer requests?