I did take a personal loan from one of so called Hi tech bank, the one that never sleeps. I was promised a low rate of interest and just one day prior to loan disbursal, the guy calls and says that the loan cannot be given at the promised low rate at a higher rate and I need to authonticate the documents. As I was in pressing need of money and there was no time to approch other Banks, I had to take the loan at higher roi. I wanted to close the loan asap and as per the bank policy it was only after payment of 6 emis. I called the Bank in 5th month so that I could close the loan on 6th month instant. However, they repeatedly refused to take the request saying that 6 months should be elapsed or 6 emis should be over. I called them in 6thm month and I was told to give 1 month notice which simply means that I had to pay the seventh emi and interst for 6th month also. This is nothing but day light robbery. I am planning to approch the Banking Ombudsman. Any others have similar exp?
