Not returing of modgage papers with bank
Satyan manuja
(Querist) 03 November 2015
This query is : Resolved
I took a loan from bank and two years back I clear all the loan as advised by bank.
The bank took a fianl amount cheque and transfer the amount from my saving account to my loan account and give me statement of zero balance. afer clearing the loan I asked bank to relaese my plot papers then the bank asked me to deposit the amount for non constrution of house.Before and after bank neither informed me for this type of charges.
Kindly guide what to do in this matter?
Anirudh
(Expert) 04 November 2015
What do you mean by ""the bank asked me to deposit the amount for non construction of house."
It is not clear. How and why bank is concerned about non-construction?
You took the loan for what?
Which Bank - please indicate the name of the Bank.
Advocate. Arunagiri
(Expert) 04 November 2015
It seems that you have availed a home loan, but after receiving the loan amount, you have not constructed the house and wanted to close the loan account.
If the bank had given you the zero balance, they ought to return the documents.
They should have insisted you for that charges, before clearing your loan to Zero.
P. Venu
(Expert) 04 November 2015
Is the amount demanded covered by the terms of the agreement?
Rajendra K Goyal
(Expert) 04 November 2015
Bank should have informed / issued notice if any condition of agreement was not followed and some panel charges are to be imposed.
Consult with local lawyer and file consumer complaint.
Kumar Doab
(Expert) 04 November 2015
Has the bank asked you in writing or verbally?
Have you minuted the discussion in writing?
You should have submitted a simple communication that on dated...........you have paid all charges and bank has issued NDC/NOC/zero balance certificate, but the original property papers have not been returned..............and avoided writing more than this!
Before you start writing to the bank it shall be appropriate to show all docs on record to an able lawyer.Your lawyer may opine to file a consumer complaint.
Dr J C Vashista
(Expert) 07 November 2015
Issue legal notice for return of documents qua hypothicated property. The bank cannot retain the same any more after giving zero balance/outstanding in your loan account, irrespective of the fact that you have availed the loan for "reconstruction" or "purchase" or for any other purpose (as per agreement).
K.S.Srinivas
(Expert) 10 November 2015
I agree with the experts Sri Arunagiri and Dr.J.C.Vashisa.
