I was working in a natonalized bank from 1976 to 2007(31 years).In the year 2000, I had availed a staff housing loan of Rs.4.00 lakhs repayable till my retirement age i.e.;180 months at the ratio of 3:1 at 11% simple interest at half yearly rests ( principal amount payable in 135 months,interest accrued payable in 45 months).Against this housing loan Bank had created lien on my Provident Fund account.
In 2001,I had availed a commercial housing loan of Rs.93000 @ 14% per annum compound interest for house repairs repayable in 84 emi..In the year 2002,this commercial loan was merged with regular housing loan as housing loan limit was raised to Rs.7.50 lakhs @ original sanction terms by which my monthly installment was rescheduled with repayment schedule unchanged.
In the year 2003,Bank had sanctioned a clean overdraft facility of RS.350000 for which I was required to pay monthly interest only and I was required tobring down the balance in a phased manner I reach the age of 57,58,59 and remaining balance will be recovered from my terminal benefits..
In November 2007,I was placed under suspension and I was getting subsistence allowance of half pay for 2 years as a result my housing loan account and OD account turned NPA. due to my inability to repay the housing loan and interest on OD
After inuiry,I was dismissed in May 2009.My appeal to appellate authority was turned down in October 2009 and Review petition was rejected by CMD in March 2013.
In the month of November 2012,Bank had issued me a notice under SARFAESI Act sating that I am required to repay the housing loan dues of Rs.5.27 lakhs within 60 days.As I was unable to repay the same,Bank had taken possession of my house on 26.02.2013.In the month of June 2013,my PF was settled ,Rs.3.00 lakhs was credited to my housing loan account leaving a balance of Rs.2.47 lakhs inclusive of interest up to June 2013.I was informed by the bank through EMAIL that Rs.3.00 lakhs is credited to my housing loan account.There after,I have repaid remaining amount in 4 installments with interest up to 15.12.2013 .Final Figure was informed to me over phone.At the time of final installments,my housing loan was showing credit balance of Rs.111000 as bank had not charged interest. till 15.12.2013.
I was insisting for closure of my housing loan account and a NO DUE CERTIFICATE.I did not ask for the return of title deeds.Bank did not attach my house to overdraft facility .Bank did not reply any of my letter.They informed me over phone that they are unable to close my housing loan due to some technical error in the system and that branch has contacted its IT department to rectify the system so that up to date interest is charged and account is closed
Today on 07.01.2014,I am informed that Bank has reversed Rs.3.00 lakhs credited to housing loan account and credited it to my OD account on 31.12.2013 i.e,after 6 months.As per loan statement ,Rs.3.00 lakhs credit is shown on 03.06.2013.Bank has reversed this entry without any intimation to me and kept me in dark.It is not that I don't want to repay my OD dues,but the action of the bank is illegal,cunning way of recovery apart from betrayal of trust..I did not ask for title deeds of my house as it will be collateral security for OD till it is repaid.It is also observed that Bank is charging interest at compounded rate of interest
I want the guidance of honorable members of this forum to guide me how I can proceed against Bank's motives.Can I complain to Consumer Reddressal Forum and /or Banking Ombudusman .Please guide me
