Car loan EMI remaining after paying all the emis on time bank error


I have a car loan from SBI. The loan is on floating interest. My EMI started in April 2011 and should have ended this month (60 emis). However SBI says they that there are 3 more emis. Reason being they did not increase the @ of interest. Hence the pending amount. They have admitted their mistake. Now this is causing a problem. Please help

Answers (1)


97 votes

i know this mistake on their part but if you dispute at this stage, they will not give you NOC and it will become court matter only for 3 installments. Do one thing before they debit last 3 installments, issue letter to them saying that 3 additional installments are being paid under protest. afterwords close account and obtain NOC and then you issue notice claiming refund.


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