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Bank is denied for loan ROI conversion


13-Jun-2023 (In Recovery Law)
Hello, I have home loan where due to non posession of property i have stopped EMI payment after continuous repayment of 6 years. Four month back I have paid outstanding EMI of 42 months in 2 installment. I request bank for ROI conversion after payment but they are asking to pay Additional Interest and penal charges while before payment of 42 months they said your charges may be waived off if you pay whole EMI in one month.nWhat should i do in this case, kindly advise.
Answers (2)

Answer #1
814 votes
Since you have paid the outstanding EMI of 42 months then the bank officials must not be charging any penal charges or any additional interest. If they are not listening to you then you can always serve them a legal notice regarding your grievances. For more legal assistance I am just a call away.
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Advocate Jitender Singh

Adv. Jitender Singh

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Answer #2
639 votes
As bank didn’t commit to waive off and the word may be was used ..at this stage u can only request the bank else u need to pay the charges as per their policies ! Better u pay then asap else u might have to pay extra of extra months of delay in payments
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Advocate D. Khan

Adv. D. Khan

LawRatoDelhi | 1000+ Answers
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