prashant (counsultant) 27 May 2010

bank is not applying interest in regular home loan

I have relation with bank of Baroda umbergaon branch since last thirty years in form of saving ac and fix deposits , in 2001 bank sanctioned me home loan of rs.1,98,000/-, in 2003 bank offer me c.c of rs. 75,000 /- on the basis of my current account transactions which upgrade up to 6.5 lacs and one furniture loan account in 2004 on the basis of home loan.

All three accounts became NPA in 2007 due to market recession and some of my personal issues. But I closed furniture loan account in full in sept 2007 by repaying 75,000 /- ( seventy five thousand rs ), I closed m/s pacific computers bob vaypar loan in full in Jan 2010 by paying around 6,70,000 /- ( six lacs seventy thousand rs. ). In between in my home loan I paid around 1,00,000 /- ( one lac rs. ) now home loan account is very much in limit, but when I go thru account statement and I find no interest is apply since almost two years,

I request bank to apply interest and give me revise statement, pls apply regular interest so I can avail all benefit of tax and can claim for rebate, there is no reason, you are not applying interest, I am not defaulter and my account is also very much regular, but I am not getting any satisfactory answer from bank about not applying regular interest.

I had a word with Mr. haresh shah ex- manager of branch , he accept banks fault as he knows everything, in his present only I closed over draft and furniture loan plus I regularizes home loan, he suggest me to talk to Mr. parkar new advance officer,

Mr. parkar ask for time and never give me any feedback, after my constant follow ups he told me that my account is still NPA, I ask him how? He don’t have any answer, I told him that I paid almost next five years EMI in advance. He ask me for request letter to apply interest, is it necessary to give request letter to bank for apply interest?

Sir, I am fed up please guide, and help me, as I am suffering losses just because of bank of Baroda and Mr. parker’s wrong attitude, I talked to Mr. mishra of regional manger office bulsar, he also convince and assure me that he will talk to umbergaon branch and rectify issue, but i guess it dose not happen yet.

Please guide as there is no branch manager in bank and no one answerable accept Mr. parkar

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7 Replies

A V Vishal (Advocate) 27 May 2010

Approach the bank ombudsman to put an end to your misery.

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SHARAD CHANDRA DANEJ (Asstt. Manager) 28 May 2010

Dear Prashant,

If you have defaulted in repaying the loans in one account, then as per NPA definition, all your other loan accounts will be categorised as NPA. Although you have closed your other loan accounts and if your housing loan account is now regular as per Banks NPA norms, then you need not give any application for interest application. The Bank people will automatically do that. The only things they need to do is to upgrade your housing loan account as standard account. You talk to the concerned person clearly and face to face.

S C DANEJ

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Adv. G. A. Gagdani (ADVOCATE AND LEGAL CONSULTANT) 28 May 2010

if any of the above does not works out then send a legal notice through your advocate, if your loan account is not regularised and as per Mr.Shard Chandra Danej guidance they have to upgrade your account.

if nothing works out then just file a complaint by way of compensation of loss you have to bear becuase of bankers not ready to put efforts.

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prashant (counsultant) 28 May 2010

thank u for your advice, it really boost me, could u guys help me drafting letetr to Regional Manager or ombudsman, today i talked to advance office MR. parkar, he still asking for request letter,

Adv. G. A. Gagdani (ADVOCATE AND LEGAL CONSULTANT) 29 May 2010

Dont give it as a request letter, give it as inquiry letter of the current matter and demand information why it is being done so. just write down series of incident happened accordingly as you listed here, then send it under rti to rti officer of the said bank, and then see the results.