You first try to approach the consumer court for deficiency in service.
Interest charged before handing over of cheque of home loan by dhfl
I had applied for a balance transfer plus top up for home loan at DHFL in Aug 2018. On 19th Sep 2018 I was informed that my home loan has been sanctioned. I asked them to disburse the same. DHFL handed me the cheque for balance transfer on 5th Oct 2018 in favour of existing bank(NKGSB) but the cheque was dated 20/9/2018. Subsequently I was informed that the Top loan cannot be disbursed as DHFL is facing some financial crisis and asked me to look out for other options and they themselves gave my data to some other DSA. However on 19th November DHFL disbursed the top up amount and credited to my account. Issue is DHFL is charging interest on the toal amount from 20th Sep. 2018 stating that the case was booked on that date and they have already cleared the pre EMI and EMI cheques for the month of Sep. and Oct 2018. So I would like to know from when interest is payable on both the accounts and both the amounts have been handed over to me on separate dates.
Asked 6 years ago in Civil Law
Ask a question and receive multiple answers in one hour.
Lawyers are available now to answer your questions.
9 Answers
Where you have availed only a part of the loan, you would be required to pay bank only the interest on the amount disbursed till the full loan is availed. This interest is called pre-EMIinterest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.
2) loan agreement would contain clauses regarding pre EMI and EMI payable by you
Ideally it should be charged from the date of disbursement when the amount is either credited to your account or when its paid over directly to the person to whom it needs to be paid on your instructions
It cannot be charged from date of sanction because the amount would not be disbursed to you on sanction date, unless the amount is also credited to your account on same day as sanction date
it all depends on whether you have signed a loan agreement and what it says in this regard.
Kindly check the loan agreement.
You have option to complaint with the banking ombudsman appointed by the Reserve Bank of India to get the solution of your complaint and in case you do not find any suitable answer from the banking ombudsman then you can approach to the consumer forum in this regard and look for the justice
The interest shall be charged from the date of disbursal of the funds, if the cheque/DD was post dated then in that case you have to take from the same date.
They are wrong because in your case interest will start accruing from the date of transfer of money not from the date of settlement so give them in writing and if they don't pay heed to your request go to consumer forum for the purpose and for deficiency in service.
Dear Client,
Even the back emi`s are paid by DHFL, so interest will levy from first sept.
You may protest and refuse to pay the interest retrospectively if that is not proper and lawful.
You may send a legal notice to this effect and instruct them to correct the records accordingly or else you may drag them to the consumer forum for deficiency in service and other reliefs.
