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My father took a loan from state bank of India of 260000. It is clearly written in the agreement that EMI of 5538 for 60 months would repay the loan amount but the bank recovered from my father EMI of 5800 for 72 months and the bank also did loan protection policy but not giving the original insurance policy?
Sir, firstly you should review the loan agreement to ensure the terms, including the EMI amount and if it is found that the bank is charging more than the agreed EMI or extending the loan tenure without your consent then this could be a violation of the agreement. If the bank refuses to resolve the matter then you can file a formal complaint to relevant authority. It is advised to consult an expert lawyer who will assist you in understanding your rights and options. For further legal assistance contact us on our helpline number.