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P Sairaghunath   04 November 2016

Hdfc auto loan

Hello, My name is Sairaghunath, I have a taken auto loan in Jan, 2015(Loan a/c # 31344775) which was approved by keeping a fixed deposit a/c no 5030076825101, amount 5,00,000 as security(liened with auto loan). Now I have auto loan principle o/s amount of rs. 4,31,000. Recently I had some health issues and will be unable to work for a few months and I'm having really hard time paying the EMI's without any income. So wanted to close the auto loan with the amount in fixed deposit to reduce my burden. So, I went to the home branch and asked them to recover the loan o/s amount and any Prepayment charges if any and transfer any remaining amount to my savings account. For which they are saying that it's not possible when a lien is marked. I don't really understand why they are not taking the amount they already have and want me to pay EMI's even though I explained them about my health issues. Please advice on what action can I take against them and pre-close my loan Isn't it really possible to close the fd with lien and pay me the left over amount after they recover what has to be paid.

Thanks & Regards, S

airaghunath, 9032726272.



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 2 Replies

Kumar Doab (FIN)     04 November 2016

Instead of making verbal statements prefer written under proper acknowledgment.

Your intention seems to be genuine.You have not asked for any waiver!

The lien is marked by lender.

The loan in its own sense is secured.

The lender should have acted on your instructions.

Appraoch a very able counsel specializing in consumer/banking matters with all dcos and details on record for a considered opinion.

 


(Guest)

Agreed.Send a legal notice asking the bank to close the account and adjust the amount against the loan or they shall then be liable for their consequences.


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