i have completed my emi by 10 months before but i have 1400 checq bounce panality in that time i neglected that now 1 year completed how much fine should i pay with that 1400
i have completed my emi by 10 months before but i have 1400 checq bounce panality in that time i neglected that now 1 year completed how much fine should i pay with that 1400
i have completed my emi by 10 months before but i have 1400 checq bounce panality in that time i neglected that now 1 year completed how much fine should i pay with that 1400
i have completed my emi by 10 months before but i have 1400 checq bounce panality in that time i neglected that now 1 year completed how much fine should i pay with that 1400
how do i calculate the penalty for paying EMI late? how can i calculate based on days. Say i was to pay the EMI on 2nd, and but i paid the EMI on 22nd. How do i calculate the penalty for 20 days. i asked at this private lender and they said for 1000 per day it is 1 rupee. the next day is 1001 and so on. how do i calculate this? i was told this is equivalent to 3 percent pm.
emi ch of a particular month has gone back due to some technical mistake not of my bank but got collected in next few days.how,must i pay charges for this event claimed by my lending bank.
I bought a 2 wheeler. Even though my EMI was passed and enter in my Bank pass book INdus INd bank (2 wheeler fin) formerly Ashok Leyland finance, asked me to pay the emi. i gave a copy of my bank pass book 4 to 5 times,Still they havent updated records and asking me to pay the EMI.Yet i havent got RC and NOC
Banks these days behave like moneylenders of yesteryears. In Movie "Mother India" it has been shown very nicely how a village kisan used to take loan and then had to pay back many more times original sum borrowed.
I think most of the bank have ecs format. Your monthly emi will automatically debited with your bank a/c when the date mentioned in the agreement. Incase you do not have sufficient balance on the particular payment date, the banker will present the cheque after calling the account holder wtih the interest of 400/- for the particular transaction and this will happen anytime . The customer must ensure they have enough balance in the particular account. Secondly, sending an agent for collecting emi money is not advisable for two reason one is the agent will call the customer and will not turn up in time to meet the customer or customer must be struck with some where could not meet the agent on time. To avoid further delay, banker should straight away call the customer and debit their account as and when funds available in their account.
RE:missed emi payment
by sowmya gujar on Jan 25, 2007 03:07 PM
Mr Ramamurthy I think you are missing the point here. Every one knows that they must ensure they have enough balance in the account. Insufficient balance position occurs when you are running neck to neck and there is an unforeseen hurdle. The purpose of sending collection agent to collect EMI is to make to uncomfortable enough so that you will cough up the money by hook or by crook. Banker cannot waste their precious hours following up with rougue customers when the same can be used for other purposes. Collection agents are sent to ensure that the borrower comes up with requisite funds proto
RE:RE:missed emi payment
by ravi on Jan 28, 2007 11:37 PM
who r u and what are ur ceredentials? are you working for some bank or their advocate. as u seem so conversant with rogue customers? answer me if u have the guts as i then i will throw the real challenging questions to you
RE:RE:RE:missed emi payment
by sowmya gujar on Jan 29, 2007 02:57 PM
You sound defensive! But I think you are barking up the wrong tree. It is not me you should be challenging, but the banks them selves. What ever I have stated above are merely facts and that is exactly the attitude most of the private sector banks possess. Even public sector banks are being forced to follow such practices due to pressure of government/public on them to increse the profits Generally people get impressed and flattered by the speed with which these banks sanction the loans and with out understanding the full financial implications just go on borrowing. If you go and do a survey default on account of care less spending of money is far greater than default due to genuine medical and other such difficulties. If you are not convinced go and stand at any mall during weekend when people are spending like there is no tomorrow.
I tell you, people of earlier generations were 100% right, Practice Thrift, Thrift and Thrift
