Loan approved but bank didnt credit money what to do

853 votes

hello,

Please come to office and bring all the proofs related with loan, documents, after going through the same we will take it further. Will also suggest keep checking with Bank, since they have told technical issue. Keep all the documents ready in case you get the money credited we will take up legal action. Thanks for writing.

LawRato LawRato

869 votes

We can approach consumerr forum to direct the bank to credit the loan amount. In addition to same damages can also be sought. As the loan is already approved and sanctioned axis cannot step back without valid reasons. loan.

Advocate Kumar Ram CM LawRato

906 votes

If you feel they are deliberately delaying or refusing to sanction loan Issue notice to them asking clarification why sanctioned loan was not relased to your account even after that you have received confirmation msg.

Advocate Govindaraju K LawRato

542 votes

Sir,

Please give an representation to the bank to pass your loan immediately. It should be in written form. In that representation please mention all the dates from the day on to till approval of loan amount and also call the bank to release amount within 7 days of this notice/ representation.

If they failed to proceed as per your notice/representation, file a complaint against bank for delaying in releasing of amount.

Advocate M Lakshmikanth Arya LawRato

830 votes

For how many days technical error will be there. Go and meet the higher authority at the concerned bank and request them to disburse the approved loan and complain about the reckless act and delay from the bank if they reciprocate well then take the loan otherwise cancel it and apply somewhere else.

Advocate Rajesh K.S LawRato