[Resolved]  Axis Bank — axis bank loan department did not adjust emi on part payment

Address:Nashik, Maharashtra, 422008

I have home loan with axis bank and my loan center is in nasik near trimbak naka signal, unfortunately that is the only loan center in nasik

My emi date is 10th of every month and my loan account number is phr[protected], my registered mobile number with this loan is +91-[protected]

I visited axis bank loan center on 15th of july 2017 as that was a working saturday,
I know mr. Bhushan who is a senior manager at loan center, every time when i visit i prefer meeting him as my issues are been solved, as on 15th july also i intended to meet him, renovation was going on in loan center hence all the staff was sitting in one section and one lady agent attended me i could not get her name as there was no name plate on her small desk in corner because of renovation, i informed her that i need to make part payment of 5 lacs and i need to adjust my emi against this, the lady very well calculated that once the part payment of 5 lacs is done my emi should come down from 48211/month to approx 43k/month, then i told her that i have 2.5 lacs in one bank and another 2.5 in other bank and for one of the bank i don't have cheque book how should i do the payment? Asked her i need to meet mr. Bhushan to discuss this clearly, she called him and i explained him the whole issue, he said sir you can give cheque of 2.5 lacs now and gave me couple of options like dd, get loose cheque from bank, cash or last option neft transfer, i selected neft for pay 2.5lacs neft, he gave me the ifsc code and aksed me to tet him utr number once the payment is done so he can adjust my emi against that payment - please note so far i am repeatedly mentioning to both mr bhushan and lady agent that i need to adjust my emi against my payment
Mr. Bhushan told me don't make mistake in adding loan account number, be very careful and i was very careful while adding loan account number and ifcs code provided by him

I gave the cheque of 2.5lacs to the lady agent where she took the instruction of emi reduction gave me a receipt (Which i have attached) and i left from the loan center, i came home added the bene for neft transaction but as per sbi rule i could only make payment of 1 lac till 4 day and not more than that

I called mr. Bhushan on his mobile informed him about this and i told him i will be making payment of 1 lac today and rest of 1.5 lac after 4 days, i made payment of 1 lac and sent utr number to mr. Bhushan as he asked me to text him, for some time i did not receive any reply and i am sure he must be busy so on safer side i called up axis bank loan customer care and raised request for adjustment of emi (Request no. 15th july[protected], again i informed the agent the whole scenario that i have already given cheque of 2.5lac to branch on 15th july and on same day 1 lac via neft and after 4 days once my limit of neft is open i will make payment of 1.5lac so it will be total 5 lac and against all this i need to adjust my emi not the tenure, (This agent on phone also did not mention that multiple request for emi adjustment cant be taken between one emi cycle

Accordingly on 20th after making payment of balance 1.5lacs via neft i called axis bank loan customer care to inform them utr number and raise request to adjust emi and not the tenure, lady agent on the phone told me that between one emi cycle multiple request cannot be taken for emi reduction, i told you must be kidding, this is nothing mentioned to me when i visited the branch and in fact branch has given me ifsc code to make neft payment if this would have been told to me i would have just given cheque of 2.5lac this month and rest i would i have done in next emi cycle, she said loan center branch has more information than the customer service department, not sure why they did not inform you, but i am taking your request to adjust the emi (Request no. 20th july[protected] please call up again to follow up on this request number

I received message last night saying funds have been adjusted, when i checked in system they have reduces my emi only for 1lac which i paid via neft and for rest of the 4 lacs they have reduced the tenure, this is after repeated request made my me, i called up axis bank again last evening (Request no. 28th july[protected] and this time i was speaking to dilip - i explained him the whole scenario again and again, he said once adjustment is done we can not change, then i informed him do not play this games with me, if this was the case i should have been informed at the loan center very clearly or while my call to axis bank customer care on 15th of july neither of the time it was mentioned, i am a common man working behind the desk like you and i don't make 5 lacs every day, it is savings of whole financial year which helps me to reduce the burden of emi, and axis bank it may not be a big deal but it is pretty big deal for me and for this i will go to any extent

Even if i have to go to court of law to get my emi adjusted i will go because if my emi does not get adjusted i will be in big trouble and to get out of this trouble i am ready to go in more trouble so a another person is not treated this way in future by providing incomplete information.

P. S - i visited same loan center 2 months ago to make a part payment of 1.5lacs the agent insisted on not reducing the emi (I know bank makes much profit this way) but then i told him do the way it is instructed don't try to be over smart i am working in finance department o[censored]k firm and i know the calculation much better than - they always want to hit you by not reducing the emi - i already have got offer from sbi with same 0.10% better intrest rate and if axis bank continues do like this i will not think even once before switching my loan to other bank

Inder dialani
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Aug 23, 2017
Complaint marked as Resolved 
loss of 4K but issue was resolved
Axis Bank customer support has been notified about the posted complaint.
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