[Resolved] State Bank of India — Delayed in EMI collection | |
I am SBI home loan customer from Thane (Naupada Branch). I have observed from last 6-8 months that SBI didnot realise the PDC (Post Dated Checks) on the given date. My PDC is of 12th of every month. But SBI realise these checks by 25th to 30th of that month. It is a delay of 8-15 days. Which is costing more interest to me as they have daily reducing balance interest calculations. Due to which I am paying around[protected] rupees more interest by end of year. They do not have ECS facility with other banks. This is disgusting and not acceptable from SBI bank. After discussion with Branch manager they suggest to open salary account in SBI to avail ECS facility. He does not have answer to why these delays happens every month. Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 1 Comment | |
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I am LIC HFL customer from mumbai. Even i have been experiencing the delays in crediting EMI PDC's by LIC HFL. After i got the loan statement i studied it thoroughly and i found that they have been crediting my cheques into their mort.suspense account after deducting from my account on 10th of every month. I have launched a written complaint against it and personally met the regional manager. He agreed to do the necessary correction.
But i think that this is been the strategy adopted by every home loan company to fool the customers and acquire huge interest rate without their knowledge.
I am not the only one who suffered due to LIC's strategy, inspite of being the regular payer of EMI and principal repayment done.
I want to unite all those who are fooled by such home loan companies to launch complaint against such companies. But for that we all who are suffering due to the company should unite first. Mail me ur problem. Let's find some solution to this.
good luck