G K 10 June 2020

Educational Loan Cheque. Help ME

I have taken educational loan from a Bank. Bank issued the cheque but I have not used it. and returned the cheque after 1 year.
bank started taking the interest money from the day 1 they issued. Help me.
I paid more interest money than the original amount which I have not used. Help me.

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3 Replies

Real Soul.... (LEGAL) 10 June 2020

Dear just negotaite with bank as while granting loans they let you sign Agreement, just go through that agreement ;if the terms are voilated then you can file for that but if they are charging under agreed terms then just repay the amount ask them for settlement.

Sinjari Bandyopadhyaya(Banerje (Lawyer 9830019661 Kolkata WB) 10 June 2020

Originally posted by : G K
	I have taken educational loan from a Bank. Bank issued the cheque but I have not used it. and returned the cheque after 1 year. bank started taking the interest money from the day 1 they issued. Help me.I paid more interest money than the original amount which I have not used. Help me....Instead of considering the fact that the cheque was not presented for payment, the Banker preferred starting recovery without payment. This act of the Banker is undoubtedly deficiency in service on the part of that Banker.Immediately give that Banker legal notice in this regard and thereafter you have to file complaint before the Consumer Forum against such Banker claiming compensation...

P. Venu (Advocate) 10 June 2020

Is this realtime query? The procedure in disbursing educatioal loans, to my knowledge, is to credit the amount (in instalments) into the account of the student. It is seldom that cheque is issued, leaving it to the student to encash the same at his convenience.

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