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USBI charged me “prepayment penalty” multiple times even though I never prepaid 😕 Need advice
Hi everyone,
I’m really confused and a bit frustrated with something happening on my SBI loan 😔
My EMI is ₹11,606 and it gets auto-debited on the 5th of every month. When we were setting it up, the bank staff helped us choose the date, and my father selected the 5th based on their suggestion. At that time, no one told us that choosing this date could lead to any extra charges or be treated as prepayment.
Recently, I checked the loan statement and noticed that SBI has charged “prepayment penalty” multiple times (around ₹130–₹136 each time) 😳
But the thing is — I have NEVER made any prepayment. Only regular EMI is going every month.
It gets more confusing…
At one point, the bank called my father and asked him to deposit ₹406, saying it would clear all dues and nothing would be pending. We trusted them and paid it 👍
But even after that, these penalty charges continued 😕
So basically:
EMI is regular via auto-debit ✔️
No intentional prepayment ❌
Still getting penalty charges 😐
Extra payment was made on bank’s request 💸
This just feels unfair and honestly a bit misleading.
I already complained at the branch, but they refused to reverse the charges 😞
Now I’m planning to escalate this to higher authorities.
Has anyone faced something like this?
Is this normal in SBI loans?
Can auto-debit timing cause this?
Any advice before I go further (maybe RBI)?
Would really appreciate your help 🙏
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