Financial institutions and banks Pre- Closure Charges

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Majority of people in india are middle class and are relying on loans which we borrow from banks

Banks charges processing fee, application fee and the interest -  seems fair

We pay the interest for the money which we borrow

When the borrower wants to close the loan they charge significant amount as a pre-closure charges

We can understand there are certain processing involved and effort spent for setting up the loan,  for this only we pay processing charges,  then why we need to pay pre-closure charges even for the loans which are say,  more than six months old

In my case,  Citi Bank of India asking to pay 3% of the principle amount 

I feel it is not ethical way of doing business

Could you please help me and sign this so that finance ministry and RBI would think and develop a mechanism to help everyone 

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