This is abhi…
my dad took loan 8yrs back, 50 lakhs loan, where they have given 45lakhs and 5 lakhs for insurance. what ever 50lakhs loan.
What the problem is, mostly we paid the amount for yearly and not monthly. due to ours is seasonal business.
we paid total 1.35crores where the loan amount is 50lakhs and 7yrs completed still 33lakhs left.
even they took 50,000 payment from the loan amount when releasing, saying that that month interest. like that while releasing payment they recovered monthly interest in beginning months only.
we are no more able to pay it. but still the bank is forcing us.
what should we do. its one of the prominent private bank .
any suggestion. unable to understand any thing. we are unable to pay any more.