Am I being cheated by my bank..??.. Pls help

clive pinto (Querist) 16 January 2016 This query is : Resolved
I have availed an education loan of rs 4lakh for engg....I availed it over a period of 4 years....and according to the document in hand I have to start paying rs 8000 per month...after a year for 52 months.... Now when I went to the bank they are asking me to pay rs 13845 per month...saying that it's because I took the amount in parts....I don't understand... Pls help...

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Guest (Expert) 16 January 2016
Request your Banker to Submit a Detailed Report about their Claim by Sending a Requisition by Registered Post Marking CC to their Seniors in Higher Level.

Rajendra K Goyal (Expert) 16 January 2016
Ask your Banker to provide you copy of loan documents and account statement. If the rate of interest has increased, you are liable to pay.

If there exist discrepancy / deviation ask in writing to rectify and if not rectified approach banking ombudsman / RBI / Consumer forum.

Sudhir Kumar, Advocate (Expert) 17 January 2016
nothing more to add.

P. Venu (Expert) 17 January 2016
Yes, obtain the particulars of the interest levied. You may also verify the rate of interest.

Kumar Doab (Expert) 17 January 2016
Bank is under obligation to provide you authenticated copies of each document.

K.S.Srinivas (Expert) 28 January 2016
Request the bank in writing to furnish all the details whatever you want.

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