Vinil Dias 23 May 2022
G.L.N. Prasad (Retired employee.) 24 May 2022
First, issue a registered legal notice and get a certified copy of the statement and copy of such agreement or documents executed by you. After receiving get the same verified by a competent chartered accountant and obtain a certificate from him about the actual interest charged as per statement and actual amount due after applying agreed interest. Equipped with evidence file a consumer complaint for recovery of excess interest paid with such compensation for harassment.
Mainsh 31 May 2022
It is never about how much % of Interest you have to pay. By any means you havee to pay more than principal amount.
So, try to open e-Nidhi or Nidhi Company that saves mny tax implications and makes money gorw for you.
You can check the complete Information on Nidhi Company registration page.
Dr J C Vashista (Advocate) 01 June 2022
Most of the NBFCs (registered with RBI) charge interest @ 3% per month from defaulters, check terms and conditions of the agreement executed by you with your financer.