[Resolved]  State Bank Of Patiala, Farakhnagar Branch, Gurgaon — levy of penal interest by bank on prepayment of loan from SB account without any clause in agreement

I had taken a Car loan of Rs. 2.34 lakh form State Bank of Patiala, Farukhnagar Branch, Gurgaon (loan account no. [protected]) in December 2008. As I had received salary arrears due to pay revision, I could make the pre-payment of loan within nine months (as against 4 years loan period). On 27/11/2009, I closed the loan account by making the entire loan outstanding payment. However I was surprised and shocked to see that an amount of Rs. 3,740/- has been debited from my Saving Account no. [protected] on account of Penalty for pre-payment of car loan. Despite of the fact, that I had intimated the branch that I have made the pre-payment from my own sources, this penalty has been levied. Copy of the loan agreement was shown to the Bank manager and there was no mention, whatsoever, about the levy of penal charges for pre-payment. Had there been any intimation to me about the penalty at the time of availing of loan, either I could not have availed the loan from SBP or I could have not settled the loan by making pre-payments. Therefore, it may be seen that without my any fault, I have been penalized with Rs. 3,740/- which has been debited form my SB account.