EMI not matching with the outstanding amount

A

abhinav biyani

New member
Bank Name
BANK OF BARODA
Loss Amount
175000
Ratings
1.00 star(s)
Opposite Party Address
BANK OF BARODA, LAXMI VANI TOWERS, RAMBAGH, KISHANBAGH ROAD, ATTAPUR,HYDERABAD 500048
we availed education loan from Vijaya bank same has been acquired by Bank of Baroda, We have been asked to pay emi of 8160 for 60 months and we have repaid around 36-37 EMI, as per balance tenor the outstanding should be 1.95 lakhs where as the outstanding showing as 3.70 lakhs. We have complained BOB and RBI no satisfactory answers provided by them.
Our query is EMI started post one year of last tranch disbursement, though we have paid emis reqularly why there is almost double difference in balance outstanding with balalnce emi of 24-25 months.
BOB is not replying for the same, Is it the bank fault to confirm the EMI? if yes what bank is doing in last 36 months? We shocked when reached bank to check the o/s as its almost double the amount. Can bank only work as per its wish, Why they not changed the ROI from MCLR to REPO, Hope at the time of EMI fixation same was calculated and later asking for MCLR + Spread resulting in this much difference in the outstanding.
Please correct your mistake and correct the principle amount accordingly.
Please dont harras a borrower. Please correct the principle outstanding and remove my mental tension.
 
We have carefully reviewed all the details submitted regarding your complaint. Based on our thorough evaluation, we regret to inform you that the only viable option left is to file a case before the nearest District Consumer Disputes Redressal Forum.
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