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prajod k gupta (engineer)     21 July 2016

Educational loan repayment

Sir,

Am taken an educational  loan from SBI at 2008 for my engineering studies.Actually the amount passed is 1.75 lac.but am taken only 1.25 Lac for my studies.At 2012 am completed my engineering study.But i didnt get any jobs.Morover due to accidents i could not pay the installment.So the account went to NPA status.The bankers called me for a lokadalat and am attended the same.As per the report from Lokadalat "i should pay Rs 30000 before 31st March 2015 and balance 70000 should before July 2015.If not paid for the balance amount (70000) the interst will be calaculate 6% pa."

I paid the 30000 before 31st March 2015.but again i could not pay the balance amount before July 2015.But now am cleared the amount (70000) on 21/7/2016 and now the account is normal status.

Now the bankers told that i need to pay more 75000 for clearing the loan.and lokadalat report is not valid.

My dobt is if the lokadalat report is valid my account is cleared.Whether i need to pay again 75000 rupees? anyone please help me.

my contact number 09947333783

 



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 4 Replies

Kumar Doab (FIN)     21 July 2016

Pay Rs.70000 with 6% interest as awarded by Lok Adalat.

 

JustAdvisor (IT)     21 July 2016

lok adalat award is binding. i hope you have paid through cheques and have receipts of the same. ask for statement of account from bank. you are liable to pay interest for delay but no further.

prajod k gupta (engineer)     22 July 2016

Am already paid the 70000,am paid by cash,but all reciepts i have.

As per the adalat only 6% of interest of 70000 is much more i need to pay.Right?

If am not ready to pay the excess amount as per the bank whether the bank take any legal action against me?is there any rule?

Kumar Doab (FIN)     22 July 2016

You have already been advised.

Obtain a/c statement and tender balance payment, if any.

Point out variances, if any, and relate with order.

if required write to Greivance redressal Cell and Chairman under proper acknowledgment.

Still if required approach your own counsel specializing in banking/consumer matters.

 

 

 

 

 


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