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Pre closure away from possessions financing into the India out-of abroad
We have a property loan inside the India and currently I am within the You and i also want to pre personal the loan from abroad.
Once i enquired the financial institution, they told you I can preclose(on preclosure charge etcetera. ) however they said the home files can’t be handed over so you can the brand new Indian contact people and it can feel handed over only in my opinion.
But I don’t have people propose to stop by at India now. If that’s the actual situation, it told you they can not support the property documents over 1 day with these people. If at all if they have to keep, we should instead spend a lease having locker having a rental of Rs 1500/- week.
I wish to understand if or not any body more has been doing like this/any other lender fees locker lease similar to this. Undecided if or not its okay to depart this new data files to your bank once closing the borrowed funds.
Which bank is the financial from inside India – ICICI? Therefore, good luck when controling them! Might absolutely need it. Might milk products your of all your determination and work out you hold off. They have simply no common sense and will adhere the “rules” started what get. Ask them in the event the a broad Power out of Attorney granted so you can an effective relative in Asia commonly suffice so that they can assemble the first records. But understanding them pretty well, I could make sure the answer is “NO”.
At exactly the same time, if you are going to apply for a fresh financing otherwise discover another type of account, they’re going to remain ugly in a feet regarding S*%T for folks who let them!
Someone else try basic chartered bank. Best wishes dealing with all of them. He’s positively horrible and you may rude. They don’t really prize their particular financing preparations and in case your matter why you are recharging pre-closing commission in the event the arrangement says zero-preclosure, they truly became very offensive.
I can not waiting so you can re-shell out content thier brief equilibrium and you may intimate which loan. The brand new not so great news is they is battery charging 4 % pre-closing commission.
I recently has establish to get the brand new data files out-of HDFC compliment of my personal relative if you find yourself are overseas. I provided an authorization page to get the fresh new data files and ask for page in order to HDFC to release the brand new docs centered on auth.page. If you’re forking over new docs, they just made certain his ID matches towards the agreement letter label and you may took a copy of your own ID. This arrangement You will find resolved using them once grilling the newest point in the heads that it is the consumer who’s getting huge chance while handing over brand new agreement page. Which have paid off the loan, the lending company has no business to help you bother the client and so they found my terms and conditions.
Once they don’t reach your words, question them brand new condition of the financing agreement to have handover of docs to follow they. They can’t surpass mortgage agreement and influence new-set regarding rules/penalties etcetera…
The problem with Indian organizations is that they do not understand NRIs. The principles are exact same getting customers and you will NRIs. The staff thinks you to definitely actually NRIs want to make rounds of them to discover the work complete. It irritates me. In every community forum, We raise up the problem out-of just how unfriendly the newest systems is created from the Indian establishments to have NRIs.
Thank you Krivan! I could in addition to talk to the authorities to handover the latest documents into registered person. Let us see just what they say
You will find an equivalent expertise in ICICI. My personal loan try preclosed and i just awarded an expert page with the lender with the nearest and dearest term information (passport amount and you will Bowl credit number). They happily paid this new data files so you’re able to your.
I will be at risk if you attempt to do business with the lender to obtain an amendment instead of prior studies otherwise feel.Here is ideas Loan mod Assistance
We preclosed webpages financing which have ICICI and you may car loan which have Standardcharted just before visiting United states. They are both just as crappy. To possess my personal web site loan, I found myself told that the preclosure fees was 6% (actually its cuatro% and so they attempted cheating proclaiming that its high for blank land). We bargained plus they were not willing to come down lower than 4% (According to the agreement that we signed their 2% and bank states it could be increased when). In the long run I mentioned that I shall avoid the EMI and you will lets notice it from inside the users judge. Then they arrived right down to dos%. Realization is just battle with all of them if you’d like an effective all the way down rates and you may hazard them that people goes to consumers judge otherwise whine so you’re able to Financial Ombudsman.
We pre-finalized couple of funds. a person is having HDFC. their complete pleasure to cope with all of them. Just ordered a choose the fresh outstanding equilibrium to my loan delivered to HDFC. Delivered yet another email address inquiring them to courier brand new docs on my personal property address. That is it. next day my personal someone acquired all the docs from the assets. Another you’re which have HSBC. He’s got a highly lengthy and you can tricky techniques. even if my personal mortgage is finalized, however most of the docs is with these people. I have to assemble once i head to Asia.