I took loan from HDFC in 2005 @7.5%. Now the rate is 11.5% on my loan(Floating). Now HDFC is providing new loan @ 9.5% but inspite of floating they are not reducing it. The other few nationalised bank are offering me @9.5%. HDFC is asking 2% foreclosure charges. Recently in Newspaper, I have read about the waival of foreclosure charges on loan. On inquiring with HDFC, they are saying that they are not bank & they are housing finance corporation & rule not applies on them. What should I do for waiver of foreclosure charge so that I could switch to other bank charging less inetrest.
