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HSBC / preclosure of personal loan a/c - customer harassment

1 India Review updated:

I live in Vikas Puri, New Delhi-18.I took a personal loan from HSBC Loan A/C No. [protected] for 5 yrs. On 9th dec. 2006 i made a request for a pre-closure of my personal loan a/c. I was told that on 15th the letter has been dispatech to my emailing address. But till date i have not received the letter. I know the HSBC'S intention behind this ,is to get more and more interest against my loan as i wanted to close the a/c quickly.

When i visited the punjabi bagh branch on 23rd dec, 2006 without the pre-closure letter they refused to accept it. My complain was again registered for the pre-closure letter and i was told that they will get a feedback on this complaint by 31st dec,2006. That mean that i have to pay the interest as well till that date or beyond the date when i have the pre-closure letter in my hand.Even when i have cash in hand and i wanted to close the a/c on 23rd dec. as well when i went there with the cash, i can't do anything. I am trapped here. Stay away from HSBC!

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  • Sa
      7th of Jan, 2007
    0 Votes

    Reading this post let me share my experience. I had taken a personal loan from citibank. I had a quite quick response from them when I applied and even the processing went on with out any trouble. Later when I too wanted to pre-close the loan, I went online and found that the process is outlined very thoroughly. I too had to give a month's notice to the bank, but that is clearly mentioned on the site. And then all the procedures were completed in the month (although they tried hard to make me take an additional loan). I stated my intention to them by 20th of the month and the process was over mid next month.

  • 0 Votes

    My Name - Dhananajay Tiwari

    I took a PL from HDFC bank, of Rs. 1, 50, 000, and now i wanted to preclose the PL, the Bank is refusing my Request, I am also ready to pay 1 year interest or penalty, still they are not accepting my request.

    Kindly help me, regarding the policy / law for this

    My contact details 09730396900.

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