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Pre closing off possessions financing into the India out of overseas

I have a property mortgage for the India and you may already I am within the United states and i also want to pre intimate the loan from abroad.

As i enquired the bank, it said I will preclose(towards the preclosure fees etcetera. ) nonetheless told you the property records can’t be paid to help you the Indian get in touch with person and it can be handed over just for me.

However, I don’t have any want to trip to Asia today. In the event that’s your situation, it told you they cannot keep the assets data over step 1 few days with them. Whenever whether they have to keep, we have to spend a rental getting locker having a lease out-of Rs 1500/- times.

I want to know whether or not people system otherwise did similar to this/other financial fees locker book similar to this. Uncertain if its okay to depart the newest records towards the financial immediately after closure the mortgage.

And this lender is your financial off from inside the Asia – ICICI? If that’s the case, good luck in working with them! You will absolutely need they. They’re going to whole milk your of all your own perseverance and also make your hold off. They have zero good sense and will adhere the “rules” come exactly what can get. Inquire further in the event that a standard Energy off Attorneys offered so you’re able to an excellent cousin into the India valuable hyperlink usually serve so they are able collect the first documents. However, once you understand all of them pretty much, I am able to make certain that the solution was “NO”.

As well, if you are going to try to get a unique mortgage otherwise unlock a new account, might sit inverted from inside the a leg off S*%T for many who ask them to!

Another is actually practical chartered bank. Good luck referring to them. He is surely terrible and you will rude. They don’t really honor their particular mortgage plans incase your question why you are battery charging pre-closing commission in the event the contract claims zero-preclosure, they became extremely unpleasant.

I cannot wait to re-pay thier small harmony and you will intimate so it financing. Brand new bad news is that they is battery charging 4 per cent pre-closing percentage.

Recently i has setup to collect the latest data regarding HDFC thanks to my cousin if you are have always been overseas. I gave an authorization page to gather brand new data files and ask for page to help you HDFC to produce the fresh docs based on auth.page. While forking over brand new docs, they simply made sure his ID suits on agreement page term and grabbed a duplicate of ID. So it plan I have worked out with them immediately following barbecuing the brand new part of their brains that it is the customer who’s delivering huge chance while shelling out the fresh consent letter. With paid down the loan, the bank doesn’t have team so you can annoy the client in addition they concerned my conditions.

Whenever they never reach their terms and conditions, inquire further the new term of the mortgage agreement to own handover from docs so you’re able to comply with they. They cannot go beyond mortgage agreement and you will dictate new set out-of rules/penalties etcetera…

The difficulty that have Indian institutions is because they hardly understand NRIs. The rules is same to own citizens and you will NRIs. The employees thinks one to also NRIs need to make rounds of these to find the work done. It irritates myself. In every forum, I bring up the problem out of exactly how unfriendly the brand new options was depending by the Indian associations to own NRIs.

Thank you so much Krivan! I could plus talk to the police to handover new data toward registered person. Let’s see what they say

You will find a comparable expertise in ICICI. My loan is actually preclosed and that i simply awarded an authority letter towards the financial on the family identity info (passport number and Pan card matter). They cheerfully paid the latest files to him.

We are at risk if you attempt to work with all of our bank to obtain an amendment rather than earlier degree otherwise feel.The following is suggestions Mortgage loan modification Direction

We preclosed website loan that have ICICI and you can car finance which have Standardcharted prior to going to Us. They are both just as crappy. To own my web site loan, I was informed that the preclosure charge is 6% (indeed their 4% plus they tried cheat saying that its higher to possess empty residential property). We bargained plus they weren’t willing to go lower less than 4% (According to the contract which i closed their 2% and you may lender states it can be increased anytime). Eventually I asserted that I am going to avoid the EMI and lets find it when you look at the users legal. Chances are they emerged right down to 2%. Bottom line is merely battle with all of them if you prefer an excellent lower speed and you will issues them we will go in order to people courtroom or whine to Banking Ombudsman.

I pre-closed few funds. you’re that have HDFC. their complete pleasure to deal with them. Simply ordered an identify the new a great equilibrium on my mortgage delivered to HDFC. Delivered another type of email address inquiring them to courier brand new docs within my assets target. That is it. following day my somebody obtained the docs from the property. Next a person is having HSBC. He has a highly a long time and you may complicated procedure. even in the event my personal financing was signed, nevertheless all the docs is together. I have to assemble while i see India.