Axis Bank — For Loan account dispute with Axis bank

Address:

Mumbai City, Maharashtra, 400024

Dear Sir/Madam,

I need help to sort out a dispute with AXIS bank from where i have take a home loan. I have tried to convey many times to the bank but bank is not sorting out the issue rather asking me to pay additional amount.

The details are as follows:-

1. I have take a Home Loan from Axis bank in Dec 2015. The Sanctioned amount is 72 Lacs, out

of which i have taken 62 Lacs are disbursed as per the requirement in discussion with Axis bank

representative. Also, we have informed Axis bank representative as we don't need any more

amount of remaining sanctioned loan amount so they can start EMI.

2. Axis bank representative did not informed us about the status of EMI and also did not

informed us that we need to downsize the loan so the EMI will start.

3. In Meantime, Axis bank started Pre EMI (Only interest) of amount around 50, 000 Rs per

month from February 2016. Axis bank debited my saving bank account every month for this.

4. As we are under impression that, EMI is started for our Home Loan and we are ok with it.

5. Later when i requested Axis bank for the statement of my loan account, then i have realised
that Only Interest of 50, 000 per month is charged for 3 months (Total around 1.5 Lakhs) and

there is no principal amount deduction.

6. I have contacted bank and asked for it, as per them we have to downsize the loan amount

then EMI will start. Then at May 1st week i have given request to the bank to downsize the

loan and start my EMI. My EMI cycle is at 11th of Each month, At 11th May 2016 bank

deducted again around 50, 000 saying its pre EMI.

7. Even after given request to Start the EMI, bank charged pre EMI for April Month.

8. Then i have asked Axis bank, they can atleast start EMI from May as i have already paid

around 2 Lakhs Rs. for their fault as they have not given complete information about this

process and deducted 2 Lakhs Rs for their fault.

9. Bank is refusing to start the EMI and saying EMI will start from 12th June 2016 onwards as

there is some policy change in revision interest. It means again i have to pay 50, 000 for

month of May as only Pre-EMI, which is not at all acceptable as a consumer.

I request you to please help me this matter. The total 2 Lakhs Interest i have paid should be

considered as EMI and deduct applicable principal and interest amount and to start my EMI

from this May 2016.

I am an NRI Customer and very it's difficult for me to visit india every time for such matters due

to Job constraints. My parents who are senior citizens and not so well health wise to visit branch

more often.

I am happy to take any legal action against bank as per your suggestion or recommendation.

My details are as follows:-

Axis bank Address :-

Axis Bank Ltd, Loan Centre, Dheeraj Baug, Ist floor, Near Hari Niwas Circle, Naupada, Thane W - 400602

Loan account no. is PHR[protected]

1) Full name as per loan account:Akshay Nivrutti Ghuge
2) Pre-EMI amount: Around 50, 000 INR
3) Loan amount:Sanctioned 72 Lakh, disbursed 62 Lakh
4) Date of Birth:17-Oct-1983
5) PAN Details:AKRPG8677L
6) EMI Cycle date:10th of Every month
7) Loan account no. PHR[protected]

Waiting for your reply earliest.


Thanks and Regards,

Akshay Ghuge