Flase claim of excess emi

visuiyer (Querist) 26 July 2025 This query is : Resolved
I had availed a personal loan of ₹6,00,000 at 13% per annum for a tenure of 48 months from Axis Bank. I have been a disciplined borrower and have paid every EMI on time without fail.

However, now the bank is demanding a 49th EMI to close the loan account, which I believe is incorrect and misleading.
When I questioned this additional EMI, Instead of providing the required proof, the bank sent a generic amortization statement on a plain white sheet—without any official signature, or on letterhead, or authentication. This amortisation statement is easily available on various online EMI calculators and does not serve as proof of claim.

Therefore, I requested the following documents:
1. A copy of the original loan sanction letter or agreement.
2. Month-wise loan account/billing statements from 15th July 2021 to 23rd July 2025.
3. A formal written justification explaining the basis for this alleged 49th EMI.

But the bank failed to provide the documents by not responding despite repeated requests and reminders, with an intent to recover the unjustified 49th EMI.
I suspect this could be either: Professional negligence, or A deliberate attempt to extract an excess payment without transparency.

Now, I am in a dilemma:
- If I don’t pay by 12th August 2025, my CIBIL score may be affected.
- If I do pay, the bank may remain silent and refuse refund, continuing this non-transparent practice.

As a senior citizen, this situation is causing me considerable mental stress. Therefore, I humbly seek your expert opinion on:
- Whether I should proceed with payment to safeguard my credit score.
- Or file a civil suit or writ petition against Axis Bank for falsely claiming an excess EMI of ₹16,097 without proof.

Veterans please guide me.

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Quick Summary

A personal loan customer is disputing Axis Bank's demand for a 49th EMI, claiming they have already paid all 48 instalments as per the agreement. The bank has failed to provide adequate proof or requested documentation, leading the customer to suspect either negligence or deliberate overcharging. The customer is seeking advice on whether to pay the disputed amount to protect their credit score or pursue legal action, given the stress and lack of transparency from the bank.

kavksatyanarayana (Expert) 26 July 2025
You have completed the loan as agreed in 48 instalments and have never paid the amount. Before filing a case in court, just meet the Branch Manager and appraise the issue. If the BM does not agree to it, file a case against the bank by enclosing a copy of the loan agreement and your payment for 48 emi details

Sudhir Kumar, Advocate (Expert) 27 July 2025
The case is appearing to be fit to move to the Banking Ombudsman/Consumer Court as decided after seeing all papers.

T. Kalaiselvan, Advocate (Expert) 27 July 2025
If you are worried about the CIBIL score affecting due to non payment of the last EMI as demanded, then you pay it under protest and issue a legal notice demanding the details and also refund of the excess amount paid by you which was forcibly extracted from under the threat of depleting your CIBIL score after which you can pursue the matter legally through consumer redressal commission to get your grievances redressed, provided you have one.

P. Venu (Expert) 30 July 2025
First of all, lodge a complaint with the Banking Ombudsman, as suggested.

visuiyer (Querist) 30 July 2025
Thank you all for the response and guide.
I have filed 5 complaints in RBI Ombudsman in the last 6 months against Axis Bank on various issues.. will it be okay where the same complainant giving multiple complaints against Axis bank in short period of time. because the Regulatory authority should not feel that I am targetting axis bank. will share the other complaints in a seperate querry.

Please guide and advise.

Sudhir Kumar, Advocate (Expert) 08 August 2025
no comments can be offered without seeing the communications already sent.

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