Banking
Singh_1984
(Querist) 09 August 2018
This query is : Resolved
Greetings to EXPERTS !!!
I took a car loan frm SBI in the month of April for 7 years and EMI started from the month of MAY .
Bank asked me to give total of 9 cheques, 3 of which will be used for paying the EMI initially because they said they have some ongoing issue going on with EC facility and would take about 3 months to fix it, and another 6 cheques for Security Purposes.
As per the formal papers which I have signed for availing the loan Iam suppose to pay EMI on 6th of Every month, I requested them to change it to 15th of every month to which they agreed verbally and hence the initial 3 cheques they used it on 15th of every month starting from May upto July 2018.
However I get the Automated system generated reminder SMS for paying the EMI on 6th of every month. Now since 3 cheques have already been used and now on 7th AUG 2018 I received the message which was slighly different and talks about some late payment charges if not paid on time . And Today on 9th AUG 2018 I received the SMS -- " Your Loan A/C No. XXXXX is irregular by INR WXYZ . Pleas contact Branch Manager , Ignore if Paid.
I already gave the "Standing Instruction" to the Bank for the ECS debit by filling up the FORM at the time of Aplying for loan but since now I have received the messages above , Iam sure the ECS Debit still have not Activated for me. Few days back the respective SBI employee was trying to convince me so that I myself start paying the EMI through Electronic Transfer in the Loan A/C to which I said its not possible for me to trasnfer the amount for 84 EMI Installments, then she agreed and said we will definitely start the ECS debit for u.
My question is --
1> Am I liable to pay any late payment charges or am I attracting any sort of extra amount which they would ask me to pay at the time of closure of the loan.
2> I never received any sort of message EARLIER which talked about IRREGULARITY and LATE PAYMENT charges so does it mean now they have left it to me completely and if I will not pay them thru cheque or electronic transfer they can plan any action against me even if they are not activating my ECS debit despite giving Standing Instruction to them ?
3 > Whom do I need to approach now as I already have communicated this to Branch Manager in Written and got no response from him.
Kumar Doab
(Expert) 09 August 2018
The contention to change the date was verbal and so was the agreement.
If you have the irrefutable written record then approach with IT.
The Managers may not be able to waive off as per compulsions of internal SoP and disciplinary rules..
Then there is pressure to sell and recover..
