Regarding unauthorized pre-closure of personal loan

I applied for a new personal loan, but my bank processed it as a top-up. My existing loan was almost over and I had already paid the interest, but because of this, I now have to pay interest twice. I asked them to reverse it, but they said it's impossible to do so. Can I sue the bank?

Answers (1)

323 votes

Yes, you can sue the bank. As the bank upon clear instructions from your end, violated those instructions and went ahead in giving a top-up option instead of a fresh loan, they have caused their services to be inadequate. We can go the consumer forum on the ground of deficiency of service caused by the bank officials.

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