Can NBFC change EMI amount on realizing mistake in tenure of home loan
09-Jan-2023 (In Banking / Finance Law)
If a NBFC does mistake while calculating the Tenure of Home Loan and realizes it after 12 months can they still charger the borrower?Can they directly change the EMI amount to adjust the difference without customer consent?
Mr/Mrs, It seems to be mistake of bank. the bank can ratify mistake, but not beyond law, rules of RBI, bank can change EMI but they have to inform you. but probably they take ur consent at the time loan application. therefore you are bound by the ur consent in loan application. if u have any grievance u can filed complaint before Ombudsman of ur concern bank for not charging any amount of mistake of bank from you.
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