Oriental Bank of Commerce - HOME LOAN INTEREST
Rajul shrivastava filed complaint against Oriental Bank of Commerce on Apr 21, 2022
As per home loan sanction letter CN/***/LOAN/HL DATED **TH Nov **** of ORIENTAL BANK OF COMMERCE has sanctioned me home loan of RS.**,**,***/- for *** month (***monthly and ** month moratorium period) and *.**%p.a.at fixed rate.
As per the sanction letter and Home loan agreement it is clearly mentioned that out of *** month installments are *** monthly and ** month moratorium period. Interest for moratorium period is to be serviced separately on monthly basis. On **th May ****, I requested bank to check the calculations as per Terms and Conditions of sanction letter which bank is calculating the balance excluding the moratorium period.
Till march **** I have paid all EMI regularly. Since May **** I am requesting bank that I want pay balance amount close my account to get my original documents but after continuous follow up bank has not even replied to my mails since last * years.
AS per the Terms and conditions of sanction letter and loan agreement (i.e. inclusive of ** month moratorium period) my balance due on March **** is Rs.*****/ and as per bank calculation (i.e. excluding ** month moratorium period) balance due till march **** is *,**,***/- . I have paid my balance due of Rs.*****/-. Since last three years I am requesting bank for calculate as per agreement but bank has not replied and charged interest on balance amount of *****/- which I have already paid but bank is not returning my original documents and charging interest on my balance amount.
This is not the first time bank is distressing me since last ** years I am fighting with bank for the same home loan with different issues, I went to ombudsman and consumer court for fixed rate of interest which bank has mentioned in sanctioned letter but charged floating rate of interest for which ombudsman and court has ordered in my favor. Now bank is harassing me by calculating the amount excluding moratorium, This is the harassment of customer. I request ,Kindly look into the matter and advice bank to calculate as per the Terms and Conditions of sanction letter and Loan agreement(i.e. *** months inclusive of moratorium period) and eturn my original documents of my home. As I have paid EMI regularly till march **** and my loan tenure has finished in October ****.
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