Indian Overseas Bank — educational loan - not giving emi schedule - improper feedback for your queries

Address:600077

Sir,

We obtained Education loan from IOB during the year 2010 for 7.5 Lakhs for MBBS course. The course duration is 51/2 years and 1 year holiday period. But the banki official started EMI by taking 4 years is course period and 1 year holiday period started asking EMI after 5 years like BE course. Then we demanded and obtained and they some how returned extra charge and started EMI from May2018. That is in mobile EMI demands 22340/-.As per their reply as 10.6% ROI and Tenure 9 Years 3 months EMI for the approx outstanding amount works out only EMI of 17000.

we mailed so many times asking explanation for EMI schedule and rate of interest and they are escaping and they are not knowing. Please help us by giving all details and convince us that you are operating genuine and justice.

Loan ac. No:[protected] . Virugambakkam branch

Candidate name : S.Babaaswin swarup.

please reply to mail ID [protected]@yahoo.co.in

Mobile Nos; [protected] & [protected] and [protected]

SRIRAMACHANDRAN
A/c No [protected]
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Indian Overseas Bank customer support has been notified about the posted complaint.
Jul 02, 2018
Updated by gsriramkiran
Sir

Outstanding loan being indicated as 12, 59, 000/- for this EMI comes out only 17844 for 10.6% ROI and 111 onths tenure. please reply with corrected EMI.
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