On 2013 My loan was approved from DHFL of Rs. 27 Lakhs, but I borrow only 25 Lakhs till 2014. and paying my EMI of Rs. 24833/- Last month I cross checked with my friend and went to branch why my EMI is on higher side then they informed my EMI is Pre EMI because i have not borrowed the full loan and I was paying 11.70% interest. Biggest shocking part was no principle had been reduced in last three years and my actual loan would start after giving them request to start EMI and no need of balance approved loan after that my EMI would be approx. Rs.22,900/- @ 9.1% interest (19000 int 3900 principle). That means I have lost to DHFL Rs.9 Lakhs approx. I am in Shock please advice is there any option to get my money back.
On 2013 My loan was approved from DHFL of Rs. 27 Lakhs, but I borrow only 25 Lakhs till 2014. and paying my EMI of Rs. 24833/- Last month I cross checked with my friend and went to branch why my EMI is on higher side then they informed my EMI is Pre EMI because i have not borrowed the full loan and I was paying 11.70% interest. Biggest shocking part was no principle had been reduced in last three years and my actual loan would start after giving them request to start EMI and no need of balance approved loan after that my EMI would be approx. Rs.22,900/- @ 9.1% interest (19000 int 3900 principle). That means I have lost to DHFL Rs.9 Lakhs approx. I am in Shock please advice is there any option to get my money back.
On 2013 My loan was approved from DHFL of Rs. 27 Lakhs, but I borrow only 25 Lakhs till 2014. and paying my EMI of Rs. 24833/- Last month I cross checked with my friend and went to branch why my EMI is on higher side then they informed my EMI is Pre EMI because i have not borrowed the full loan and I was paying 11.70% interest. Biggest shocking part was no principle had been reduced in last three years and my actual loan would start after giving them request to start EMI and no need of balance approved loan after that my EMI would be approx. Rs.22,900/- @ 9.1% interest (19000 int 3900 principle). That means I have lost to DHFL Rs.9 Lakhs approx. I am in Shock please advice is there any option to get my money back.
On 2013 My loan was approved from DHFL of Rs. 27 Lakhs, but I borrow only 25 Lakhs till 2014. and paying my EMI of Rs. 24833/- Last month I cross checked with my friend and went to branch why my EMI is on higher side then they informed my EMI is Pre EMI because i have not borrowed the full loan and I was paying 11.70% interest. Biggest shocking part was no principle had been reduced in last three years and my actual loan would start after giving them request to start EMI and no need of balance approved loan after that my EMI would be approx. Rs.22,900/- @ 9.1% interest (19000 int 3900 principle). That means I have lost to DHFL Rs.9 Lakhs approx. I am in Shock please advice is there any option to get my money back.
On 2013 My loan was approved from DHFL of Rs. 27 Lakhs, but I borrow only 25 Lakhs till 2014. and paying my EMI of Rs. 24833/- Last month I cross checked with my friend and went to branch why my EMI is on higher side then they informed my EMI is Pre EMI because i have not borrowed the full loan and I was paying 11.70% interest. Biggest shocking part was no principle had been reduced in last three years and my actual loan would start after giving them request to start EMI and no need of balance approved loan after that my EMI would be approx. Rs.22,900/- @ 9.1% interest (19000 int 3900 principle). That means I have lost to DHFL Rs.9 Lakhs approx. I am in Shock please advice is there any option to get my money back.
Hi Harsh- I have a situation - I have taken loan with SBI in Nov 2005 with fixed Interest rate of 7.5% and was paying EMI regularly and receiving annual interest certificates from them for the same. in March 2014 I got a letter mentioning that Interest rate is changed to 12% effective Nov 2008 and 12.5% effective Nov 2011 and I owe them addition 6 Lacs rupees. As per T&C I have right to decline any interest rate changes with 15 days if information received , which I did and asked for closure of Loan account. Bank is not closing my account and handing over my property document. I have raised the issue with banking customer care , which is non responsive as Bank themselves. Currently raised the issue with Ombudsmen and hope I will get to represent my case. Please suggest what are my right as consumer here. If I could have been informed in 2008 , rather than paying 12% interest , I could have closed my loan account than itself or switched to other banks. Regards, Rajeev
Hi Harsh- I have a situation - I have taken loan with SBI in Nov 2005 with fixed Interest rate of 7.5% and was paying EMI regularly and receiving annual interest certificates from them for the same. in March 2014 I got a letter mentioning that Interest rate is changed to 12% effective Nov 2008 and 12.5% effective Nov 2011 and I owe them addition 6 Lacs rupees. As per T&C I have right to decline any interest rate changes with 15 days if information received , which I did and asked for closure of Loan account. Bank is not closing my account and handing over my property document. I have raised the issue with banking customer care , which is non responsive as Bank themselves. Currently raised the issue with Ombudsmen and hope I will get to represent my case. Please suggest what are my right as consumer here. If I could have been informed in 2008 , rather than paying 12% interest , I could have closed my loan account than itself or switched to other banks. Regards, Rajeev
