I had taken Home Loan Rs.940000/- on 10.02.2003 being account no.021-507595-220 from HSBC for purchase of a flat in kolkata. Ever since the inception of the Loan I had never felt comfortable with HSBC in terms of Policy and Customer Service. Queries regarding rate of interest was never answered properly. HSBC never maintained clear policy of the interest charged on its Home Loan accounts. Even though the EMI were paid regularly for 8 years, with a interest rate of 15.25% as per the last revision of interest rate in the month of August,2011.
In the month of March 2011 I had personally visited the branch and met Mr. Jitendra Mohta, Manager Home Loan at the HSBC house in kolkata with a intention to pay 25% of the principal outstanding which was free from any prepayment charges as per the Terms of Agreement of the Loan. Mr Mohta made me fill a printed format for the prepay of the 25% of the principal outstanding and also advised me to first clear the over due 2 EMI being Rs.19856/= (9928/= x 2) and make the prepayment of Rs.1,50,000/= thereafter. The said overdue EMI amounting to Rs.19856/= was paid on 28th & 29th March 2011 and the amount of Rs.1,50,000/= being the 25% of principal outstanding was paid on 30th March,2011.
I was shocked and surprised to see the statement dated 30th March,2011 where an amount of Rs.142912=93p was only credited to my principal account instead of Rs.1,50,000/= and the balance amount of Rs.7087.07p was adjusted against the Interest account. This is violation in the Terms of Agreement under which the application was made by me in the assurance and presence of Mr. Jitendra Mohta. The matter was taken up at various stages with your customer care and Mr. Mohta, all kept buying time with no results. Finding no other alternative I stopped the EMI with a intention to clear the whole principal amount whatsoever as I was wasting time and energy in the process and running from post to pillar with no results.
During my last the visit I met Mr Michael of Home Loan at the HSBC house who asked me to write a letter to him stating the whole fact. Letter dated 18th Nov’12 stating the whole fact was handed over to him on 19th Nov,2012. After almost one month he asked for a similar letter requesting me to clearly mention the amount at which I would like to settle the said account. A similar letter was handed over to him on the 21st December’2012 stating an amount of Rs. 446032/= to be payable by me after adjusting Rs.7087/= which was wrongly credited to the Interest account instead of the principal amount as stated above.
In the meantime Notice u/s 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was send to me. I am astonished on the functioning of HSBC as a whole as it always maintains double standard with its customer. I fail to understand that when I am ready to pay the whole Principal Amount in one go why this fuss and confusion is taking place.
Please advice how to get out of HSBC as I don not want to maintain any relation with them.

Thanks
G.N.SINGH