Loan refund policy - My father was try to buy a second hand car
1 year ago
My father was try to buy a second hand car in true value.for 5Lakh rupees. Out of 2 lakh in cash and 3 lakh in loan. We paid the amount and bank provided 2 lakh also. However later we decided to not buy that car o within 2 days we got refund from true value however now the bank is telling us to pay 6,000 interst for the loan because they got there refund after 1 month. Do we need to pay that amount because we got our cash within 2 days and bank is telling they got refund after 1 month
A.Dear Client,
If you gave back the refund late then the bank might be right and you have to pay the intrest as the loan was already sanctioned. But if there were no issues from your side then you may ask the bank to recheck the refund details and about the intrest.
If you gave back the refund late then the bank might be right and you have to pay the intrest as the loan was already sanctioned. But if there were no issues from your side then you may ask the bank to recheck the refund details and about the intrest.
Helpful
Helpful
Share
Read Related Answers
Compassionate appointment
Dear Client,
The SBI rules can not be breached. it could be the policy of the bank to not hire anyone. Please check with the rules and guidelines for heiring employees
Education Loan OTS
Dear Client,
Try to go to the online portal of the said bank and complaint about grievance through the same. it is advisable to repay the loan amount within the stipulated time or you may face seizur...
Sbi account put on stop by cyber security
Dear Sir/Madam,
Under the following provisions the Hon’ble Magistrate Court having ample powers to unfreeze the Bank accounts. Further, the Hon’ble Court has vast powers to hand over the properties/v...
My bank account got freezed
Dear Client,
Once a cybercrime scam or fraudulent transaction is reported online to the National Cyber Crime Reporting Portal(NCCRP), on the instruction of the Cyber Crime Cell, the investigating tea...
Bank loan harassment
Dear Client,
In the given scenario, you can escalate your grievance with the Grievance Redressal Officer of the concerned Bank, and in case no suitable response is received from the GRO of the Bank yo...
Read Blogs on Banking
Banking Lawyers
Find Lawyers by Location
