Legal Question in Banking Law in India

Repayment of Bank Loan

I pay my EMI against my Home Loan through my Saving A/C but my Bank do not reflect it to my savings account instead they credit it through my loan A/C.Also they charge excess interest rate and also charge interest on late payment without any intimation.How shall I approach legally to my Home Laoan Manager,


Asked on 6/04/07, 9:31 am

3 Answers from Attorneys
Vishwa Arya Arya & Co.

Re: Repayment of Bank Loan

you must issue them a notice protesting about the excess interest and further asking them to credit the amount otherwise your best bet is to write to ombudsman.

vishwa

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Answered on 6/04/07, 11:40 am
G. M. Gupta gmguptaandassociates

Re: Repayment of Bank Loan

give a legal notice to them in this regard giving all details.

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Answered on 6/04/07, 1:36 pm
Vivek Mapara Mapara Law Firm

Re: Repayment of Bank Loan

It is required to be know as to what was the loan agreement, and what was the rate of interest chargable, and if any penalty to be levied against late payment, and if, then at what rate.

Your question cannot be answer straight way but requires perusal of all papers, and account statement.

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Answered on 6/04/07, 2:38 pm


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