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kamalakannan A (Senior Software Engineer)     29 March 2011

SBI Home Loan

Hi All,

In the year 2008, i got home loan amount Rs.6.6 lakhs from SBI bank. Still now i am paying my EMI Rs. 6600. Last month I got a call from SBI field officer, he told me your account balance in Rs. 90 thousands and you will need to pay with in 30th March 2011.

I asked him, why this much amount  i wil pay, because i am paying EMi without fail.

He(Magaer & FO) told me, you were not paid pre interest ( that is stage by stage building progress they were relasing amount.) that amounts interest i was not paying so now the cumulative ineterest came this much, so you will pay  this much amount within 30th mar 2011at anycost,  otherwise we will take legal action to me.

I am not in the situation to paid this much amount now, so i paid Rs. 22 thousands on three week before, but daily they are calling me and asked me to pay htis amount with in 30th mar 2011.


1. I did not know this as prior, so that i was not paid the amout priviously, that field officer did not say this at my loan sactioned time. So who did this mistake?

2. If i will not pay this amount with in 30th mar 2011, then i will face any critical problem from SBI?

3. They told me your account will go to as default in RBI? what is risk in this?

4. I told them, i will pay this amount after April 2011 without fail, but they were not accepted it? so how can i handle this situation?

Please help me to handle this, i am very much upsetted...



 8 Replies

kumar (NIL)     29 March 2011

Dear Kamalakannan,

First let me know one thing. You have taken Housing Loan or Construction Loan from SBI. And if you take construction loan, then when did the construction got completed. One more thing since the starting of your loan, your paying 6600/- EMI or Pre Emi....

CA VK Dwivedi (Job)     29 March 2011

Dear Kamlakannan,

i really condemn this kind of malpractices adopted by banks. they have tendency of holding accout holder/ customer/ borrewer responsible even for their mistakes.

I would suggest you to please document all the correspondence. Do understand how thye have ascertained this amount of 90K. why didn't they inform you earlier for past 3 years why they did not take action. Ask everyting in writing. they willl tell you RBI, acts, notification circulars etc. do take copy of all these and Also ascertian when all this is effective from and do read yoru loan agreement.

Ascertian whose mistake is this? I am damm sure this is Bank who defaulted to identify the cahrges adn tell you in right time. and do not leave it as it is once you identify this is banks mistake Do go to Consumer Court and recover all the charges along with mental harassment. Also lodege complaint with RBI.

Write mail to Banking ombudsman of yur region and show your agression and agony to them.

VK Dwivedi

kamalakannan A (Senior Software Engineer)     29 March 2011

Dear Kumar

I have taken Construction Loan from SBI. My construction was completed 2008. After that I was started my EMI. It is not Pre EMI. 

kamalakannan A (Senior Software Engineer)     29 March 2011

Dear CA VK Dwivedi,

Thanks for your reply. I will send letter to SBI GM in the same branch, Field officer and RBI Manager huh?

kumar (NIL)     29 March 2011

Dear Kamal,

I do accept with Mr. CA VK Dwivedi.   Even i also suggest you to do the same...

CA VK Dwivedi (Job)     29 March 2011

I encourage every every indian to raise his voice. also write mail to SBI-LHO (local Head Office) of your SBI branch and DGM customer care. you can get all the mail ids from sbi website.

Do not keep mum even if your case get resolved. Do raise your voice. let them compensate you for your mental herassment.  The customers/ Borrowers of the banks must bring all malpractices to the knowled of high officials of the bank and when bank pay these compensations they have relfect in their Profit and loss account as penalities adn compensation and has the reply to higher officials. At the same time inform RBI may be by email or post.

Once you come out successful do publish your case in news paper so that other people also get inspiration and encouragement.


kamalakannan A (Senior Software Engineer)     29 March 2011

Ok, Thanks for your valuable information, and I will follow the same.

kamalakannan A (Senior Software Engineer)     29 March 2011

Hi all,

I have a home loan from SBI Tamil nadu - Dindigul - Salai road branch. How to get the DGM email id from internet?

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