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I purchased Flat in Chandigarh in May 2004
I purchased Flat in Chandigarh in May 2004 after getting Home loan of Rs 128000/- from HDFC with repayment schedule of 20 years. Interest options were floating. After more than five years I tried to repay the home loan and asked for foreclosure amount that I needed to deposit. To my surprise, after seeing the details prepared by the bank of the foreclosure statement prepared, I find that the bank is claiming that I have paid only Rs 90,000/- as principal amount of the loan inspite of repaying my Loan regularly and increase in EMI as and when asked for by the Bank. I find all this fishy and suspect that bank has manipulated some figures. It is not understood as to how a loan of Rs 1280000/- taken 5 years ago has been repayed to less than Rs 90,000/-, even after paying EMI of regularly with increases as and when asked for by the bank? Can somebody guide and help? Thanks
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First Answer
Hi,
First you need to take your complete repayment track record from the bank then see how many times they have revised your rate, then see have received all communication from bank on every revised rate. If yes good or if no then you can ? to bank. After you received your repayment track from bank you can check your schedule of payment of your loan account to track your monthly payments.
Calculate payments as per interest rate as applicable on every time.
Answered by Naresh Swamy Banda, on Dec 29 at 4:13 am
Naresh Swamy Banda, on Dec 29 at 4:13 am
