Regarding cheating of sbi bank on educational loan
Dhakshnamoorthy.K
(Querist) 02 March 2012
This query is : Resolved
HI,
I am Dhakshnamoorthy from Chennai. I got 50000INR as a loan amount for my higher studies from SBI. Unfortunately I have not paid the repayment regularly, also I have not received any document from bank with regard my educational loan like repayment structure, tenure, etc.,.
After sometime I approached them and paid almost 55000INR including interest, recently I have been informed to pay 44000INR on 1 Feb '12. so i asked them to share the interest rate and I was escalate this to their higher level via emails twice.
When I approached them twice in a period of 15 days, each time I have been asked to pay 7500INR more on balance amount, i.e., 51500 at first time and 59000INR at second time. This was happened between 1 Feb '12 to 2nd March '12. So don't know what to do now. Also I received a warning letter from them, in that they mentioned i will face severe actions if failed to pay within 7 days.
But I am having all the original documents and letters with me.
I need your advise on this matter, how to face it. I am interested to face this issue legally. They asking me to pay 15000INR more in a month of time.
Regards,
Dhakshnamoorthy K
Guest
(Expert) 02 March 2012
Dear Dhakshnamoorthy,
Please note, each day of default in clearance of debt would lead to increase of interest amount and would add to your debt account. Since no amount out of your payment would go in to the pocket of any bank employee, it cannot be termed as a cheating case.
So, instead of wasting any more time, better negotiate personally with the bank authorities to get some amount of interest waived off and pay the settled amount to clear the debt to avoid any more burden of interest on you.
