Bank Of India — deduction of interest

sujoy2018

from Kolkata, West Bengal

Address:

Hooghly, West Bengal, 712136

I, co applicant, of education loan account number [protected] sanctioned on 19.07.2017 .
As per item no. 5 of sanction letter dated 19.07.02017 that the loan shall be repaid in 180 emis, six months after getting employment or one year after the completion of studies whichever is earlier.
The accrued interest, if not paid during repayment holiday period, shall be added to the principal and emis shall be reset accordingly.
But on 30.09.2018 interest of rs. 49936.15 deducted from my savings account . And i applied for refund the deducted amount. But branch manager reluctant to refund the same.
Please arrange to refund the same

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Bank Of India customer support has been notified about the posted complaint.

Oct 02, 2018

Updated by sujoy2018 I, CO APPLICANT, OF EDUCATION LOAN ACCOUNT NUMBER [protected] SANCTIONED ON 19.07.2017 .
AS PER ITEM NO. 5 OF SANCTION LETTER DATED 19.07.02017 THAT THE LOAN SHALL BE REPAID IN 180 EMIS, SIX MONTHS AFTER GETTING EMPLOYMENT OR ONE YEAR AFTER THE COMPLETION OF STUDIES WHICHEVER IS EARLIER.
THE ACCRUED INTEREST, IF NOT PAID DURING REPAYMENT HOLIDAY PERIOD, SHALL BE ADDED TO THE PRINCIPAL AND EMIS SHALL BE RESET ACCORDINGLY.
BUT ON 30.09.2018 INTEREST OF RS. 49936.15 DEDUCTED FROM MY SAVINGS ACCOUNT . AND I APPLIED FOR REFUND THE DEDUCTED AMOUNT. BUT BRANCH MANAGER RELUCTANT TO REFUND THE SAME.
PLEASE ARRANGE TO REFUND THE SAME

Oct 02, 2018

Updated by sujoy2018 , co applicant, of education loan account number [protected] sanctioned on 19.07.2017 .
As per item no. 5 of sanction letter dated 19.07.02017 that the loan shall be repaid in 180 emis, six months after getting employment or one year after the completion of studies whichever is earlier.
The accrued interest, if not paid during repayment holiday period, shall be added to the principal and emis shall be reset accordingly.
But on 30.09.2018 interest of rs. 49936.15 deducted from my savings account . And i applied for refund the deducted amount. But branch manager reluctant to refund the same.
Please arrange to refund the same