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Can the bank take interest on due amount
12-Sep-2023 (In Banking / Finance Law)
i have pay my old due loan as per rule ,after 2 month complaining in head branch they give me loan statement ,when i see i found that one entry is missing from statement, they collect me from 140000 and in statement they show only 100000,when i ask about this they told me that we count intrest of 15% on priciple amount which is 40000.Now my question is some kind of fraud or is legal?
if your say is correct, it is wrong , not permissible under any law to charge such huge amount against interest.
it is necessary for me to know , how you make payment of Rs. 140000/- , if it is in cash , have you taken receipt for that ?? if paid by cheque , you may lodged complaint before the consumer court and even to the police.
police may refuse to take the complaint , there are remedies for compelling police to lodge the complaint. it is criminal offence and punishable under IPC as well as other laws.
it will be difficult for you to prove in the court that you have paid 1.4 lac and just 1 lac has been reflected in statement, if you have paid in cash. you may show to the court source from where you have received such payment. withdrawal from bank or from some private parties.
it is necessary for me to know , how you make payment of Rs. 140000/- , if it is in cash , have you taken receipt for that ?? if paid by cheque , you may lodged complaint before the consumer court and even to the police.
police may refuse to take the complaint , there are remedies for compelling police to lodge the complaint. it is criminal offence and punishable under IPC as well as other laws.
it will be difficult for you to prove in the court that you have paid 1.4 lac and just 1 lac has been reflected in statement, if you have paid in cash. you may show to the court source from where you have received such payment. withdrawal from bank or from some private parties.
Helpful?
Adv. Subhash Barot
Ahmedabad | 25+ Answers
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