u/Queasy_Composer2537

I got stuck in a serious issue with HDFC Bank and need advice.

I already had an existing loan of around ₹15L at 11.4%. On 29th April, I received a call from HDFC Jumbo Loan team offering a new loan at 8% ROI. I specifically confirmed that:

• my old loan could be foreclosed without 3% pre-closure charges, and
• the new loan would definitely be at 8%.

Based on these assurances, I proceeded with a new ₹14L loan. During processing, I noticed ROI showing as 10.56%, but the executive said it would later be updated to 8% after internal approvals.

Meanwhile, they processed foreclosure of my old loan.

Later, when final documents came, ROI was still 10.56%. Realizing I had been misled, I cancelled the new loan within the cancellation period.

Now the problem:

• old loan already foreclosed,
• bank refusing to restore it, and asking to pay 12.26 L
• and asking me to pay foreclosure/pre-closure charges too.

I’ve already complained to the bank/grievance team.

What should I do now? Should I escalate to Reserve Bank of India / Ombudsman? Has anyone dealt with something similar?

Edit : Customer care earlier told that the pre closure request would auto-close if i don't pay the amount within 48 hrs. If anyone tried pre closing a jumbo loan and later changed their mind, can you please tell what would happen. As every time I talk with customer care i get some different information

I got stuck in a serious issue with HDFC Bank and need advice.

I already had an existing loan of around ₹15L at 11.4%. On 29th April, I received a call from HDFC Jumbo Loan team offering a new loan at 8% ROI. I specifically confirmed that:

• my old loan could be foreclosed without 3% pre-closure charges, and
• the new loan would definitely be at 8%.

Based on these assurances, I proceeded with a new ₹14L loan. During processing, I noticed ROI showing as 10.56%, but the executive said it would later be updated to 8% after internal approvals.

Meanwhile, they processed foreclosure of my old loan.

Later, when final documents came, ROI was still 10.56%. Realizing I had been misled, I cancelled the new loan within the cancellation period.

Now the problem:

• old loan already foreclosed,
• bank refusing to restore it, and asking to pay 12.26 L
• and asking me to pay foreclosure/pre-closure charges too.

I’ve already complained to the bank/grievance team.

What should I do now? Should I escalate to Reserve Bank of India / Ombudsman? Has anyone dealt with something similar?

Edit : Customer care earlier told that the pre closure request would auto-close if i don't pay the amount within 48 hrs. If anyone tried pre closing a jumbo loan and later changed their mind, can you please tell what would happen. As every time I talk with customer care i get some different information

I got stuck in a serious issue with HDFC Bank and need advice.

I already had an existing loan of around ₹15L at 11.4%. On 29th April, I received a call from HDFC Jumbo Loan team offering a new loan at 8% ROI. I specifically confirmed that:

• my old loan could be foreclosed without 3% pre-closure charges, and
• the new loan would definitely be at 8%.

Based on these assurances, I proceeded with a new ₹14L loan. During processing, I noticed ROI showing as 10.56%, but the executive said it would later be updated to 8% after internal approvals.

Meanwhile, they processed foreclosure of my old loan.

Later, when final documents came, ROI was still 10.56%. Realizing I had been misled, I cancelled the new loan within the cancellation period.

Now the problem:

• old loan already foreclosed,
• bank refusing to restore it, and asking to pay 12.26 L
• and asking me to pay foreclosure/pre-closure charges too.

I’ve already complained to the bank/grievance team.

What should I do now? Should I escalate to Reserve Bank of India / Ombudsman? Has anyone dealt with something similar?

Edit : Customer care earlier told that the pre closure request would auto-close if i don't pay the amount within 48 hrs. If anyone tried pre closing a jumbo loan and later changed their mind, can you please tell what would happen. As every time I talk with customer care i get some different information

I got stuck in a serious issue with HDFC Bank and need advice.

I already had an existing loan of around ₹15L at 11.4%. On 29th April, I received a call from HDFC Jumbo Loan team offering a new loan at 8% ROI. I specifically confirmed that:

• my old loan could be foreclosed without 3% pre-closure charges, and
• the new loan would definitely be at 8%.

Based on these assurances, I proceeded with a new ₹14L loan. During processing, I noticed ROI showing as 10.56%, but the executive said it would later be updated to 8% after internal approvals.

Meanwhile, they processed foreclosure of my old loan.

Later, when final documents came, ROI was still 10.56%. Realizing I had been misled, I cancelled the new loan within the cancellation period.

Now the problem:

• old loan already foreclosed,
• bank refusing to restore it, and asking to pay 12.26 L
• and asking me to pay foreclosure/pre-closure charges too.

I’ve already complained to the bank/grievance team.

What should I do now? Should I escalate to Reserve Bank of India / Ombudsman? Has anyone dealt with something similar?