CAR LOAN DISBURSED AFTER DEDUCTING 1ST EMI AND DOCUMENTATION CHARGES
3 years ago
Bank deducted 1st EMI and documentation charges from the total car loan amount before disbursal and they are charging interest for that amount too, moreover, they added some health insurance to car loan without my consent to that loan and asking me to pay EMI for al these..
A.HI
It is against law for banks to deduct / charge their customers for add on products like health insurance etc.
You can either approach the banking ombudsman or file a case in the district forum for deficiency of service (in law , charging for add-on's without consent of borrower is deficiency of service)
Hope this information is useful.
It is against law for banks to deduct / charge their customers for add on products like health insurance etc.
You can either approach the banking ombudsman or file a case in the district forum for deficiency of service (in law , charging for add-on's without consent of borrower is deficiency of service)
Hope this information is useful.
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A.Hi
You can approach either the banking ombudsman or file a case in district forum for deficiency of service as banks cannot add any services (health insurance, documentation charges etc) without consent of Borrower.
Hope this information is useful.
You can approach either the banking ombudsman or file a case in district forum for deficiency of service as banks cannot add any services (health insurance, documentation charges etc) without consent of Borrower.
Hope this information is useful.
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A.Dear Sir,
Just cancel your dealing with that bank and get transfer to some other bank. Be informed that all banks doing one or the other mischief. Please give me Rank 5 if you feel my answer helped you
Just cancel your dealing with that bank and get transfer to some other bank. Be informed that all banks doing one or the other mischief. Please give me Rank 5 if you feel my answer helped you
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Devesh Tripathi
Responded 3 years ago
A.dear generally they take signature while giving loan and they get sign booklet and in boxes they tick afterwards. However, their deducting 1 emi before disbursement is wrong and they can not charge interest on that amount before they disbursed the amojnt and also they can't give u forcefully any insurance . you can go to consumer court for that matter or in permanent lok adalat.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi Kumar,
this is unethical part of the bank, request to get all the documents (self-explanatory) and issue a legal notice to correct such trade practice, failing which file a consumer complaint
this is unethical part of the bank, request to get all the documents (self-explanatory) and issue a legal notice to correct such trade practice, failing which file a consumer complaint
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Manini Jaiswal
Responded 3 years ago
A.The Documentation charge can be levied in your account, but deduction of emi cannot be done as you have to pay it after availing the loan facility. I suggest you to file a consumer case stating your greivances.
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Chitra Sundar
Responded 3 years ago
A.It is necessary to look at the loan documents signed by you and ascertain if there have been any mention of the health insurance etc. In case, the same is not present you may raise a grievance with the Bank.
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