Loan help india

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Abhay Datar

We have cleared City financial loan in 2008. Now Kotak Mahindra is asking for clearing that loan. We are not able to locate no dues certificate given by bank as very long time has elapsed. Bank made error in clearing our loan account. Now Kotak Mahindra agent is asking us to visit one of its branch. What we should do? Defaulter

Had you cleared the loan in normal course, or was it some sort of settlement? If it was a settlement, it would adversely affect your credit score. If it was a normal closure, whether Citi Bank had... Read More

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I had sanctioned an education loan from Central Bank of India in 2018 but did not disburse the loan. I recently got to know that the loan account is still running (with dues of Rs.14000) while applying for a home loan. This is impacting my CIBIL score. The bank is saying the dues are due to insurance taken against the loan by the bank. This insurance clause was not mentioned to me while taking the loan. Can you please tell what are the ways of redressal or will it be prudent to pay off the dues? Credit Score

Banks generally insist for insurance when a housing loan is being disbursed, to secure the property. That is not the case with education loan. Have you inquired what type of insurance is that? Does... Read More

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Sucheta Dalal Trustee - Moneylife Foundation

Abhay Datar Abhay Datar is a consumer activist. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of Mumbai Grahak Panchayat (MGP) in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related with mobile banking frauds and mediclaim. He was a Member of the Managing Committee of MGP till March 2021.

Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank

R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues

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