A.K.ANNAMALAI J. - (1.) The unsuccessful complainants are the appellants.
(2.) The complainants/appellants have filed a complaint before the District Forum, seeking relief for refund of Rs.26,322.56 being 2.5 % of a loan amount cleared for the preclosure amount and Rs.1,000/- as process fees in excess together with 12% collected and to pay Rs.50,000/- towards mental agony and harassment underwent by the complainant and with cost from the opposite party.
(3.) The complainants have obtained a housing loan from the opposite party for Rs.14,00,000/- and paid Rs.15,000/- being the process charge at the rate of Rs.1,000/- per Rs.1,00,000/-. The loan amount is to be paid in 180 EMI at the rate of Rs.20,076/- per month and the complainant wanted to close the loan in advance by December 2004 for which the opposite party furnished details on 27.12.2004 with the demand for Rs.26,322.56 being 2.5 % as preclosure charge, which was not mentioned in the offer letter dated 9.8.1999. Hence a legal notice was sent to the opposite party. No reply was sent. The complainants paid the entire loan amount with preclosure charge of Rs.26,322.56 in all for Rs.10,87,721.86 without prejudice to their rights by demand draft dated 31.12.2004 as they apprehended if that amount is not paid the opposite party will not release documents for the loan given. Hence the collection of 2.5% as pre closure payment charges is illegal and the claimed for refund of the same and Rs.50,000/- for mental agony and deficiency of service.;