Killer Interest Rates And Prepayment Charges

I took a personal loan from a finance company called Prime Financial. The loan was of Rs. 27,000 for 30 months with an EMI of Rs. 1,477. What is the actual rate of interest? They did not give me any documents stating loan related information.

When I ask them whether the loan can be closed, they tell me about some charge called the prepayment penalty which is around Rs. 23,000. I have already paid 14 installments.

Can the bank do something like this?

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