[Resolved]  Bank Loan — Disputing the charges on our Loan and mis-management of EMIs

Address:

Karnataka

Hi,


We have a loan accounts with Repco Home finance Ltd., We have observed recently on our loan accounts that there has been penalty of close to 6,203 and 19,524 apprx on both of our Loan accounts- Proposal No: 0669 and No:0634. Firstly, we have been paying our monthly EMIs through cheque from our HDFC account. We have given cheques in advance for the whole year, so that, as conveyed to us by the previous manager the cheques will get debited from our account on 25th of every month. Even though we have have been paying regularly there has been an occasion where the total EMI amount of Rs 20,876/- has been credited to one account. Your bank realized this after a few months and also in Oct 2011 the the EMI amount has been taken from my account. I have hecked my bank statement, but in my Loan account statement it is not reflecting for that month the same thing happened in Sep 2010 as well. Also, on close investigation of our bank account statement, it appears that in February 2012 the EMI has gone out of my account (couldn't attach the statements) but in our Loan statement the amount for that month or for any succeeding months is not appearing.

our accounts have been very badly managed and this is not acceptable in any case.The EMI amout would get debited from my HDFC account but won't get credited in my loan account sometimes it appears after a few months and sometimes it won't. I can prove this by giving both my bank statement and the Loan statement. Also, they would credit the amout to one loan account when we have two accounts which leads to non payment of EMI for a few months which leads to penalty. the operations of the Repco bank are horrible and the managers and staff doesn't want to serve it's customers the bank doesn't have auto debit or ECS, since all of this trouble. the penalty is growing every month as I refuse to pay the amount which I have incurred due to the bank's operational issues. It was the bank which insisted that we give the cheques for the whole year, if we have paid by cash every month we wouldn't have had any issues.

-Kishan
[protected]@gmail.com