Legal Advise On Loan Processing Fee Refund If Loan Is Not Sanctioned | Vkeel - Free Legal Advice

************y

Pune

On 17th Sep 2020, I connected with Axis Bank Home Loan employee Mr. Rishi Ranjan Singh and applied for a Loan top-up amount on my existing Home loan with Axis Bank. Mr. Rishi asked me to submit my personal details documents along with 2 cheques as processing fee. I gave the required documents along with 2 cheques of Rs. 5,900/- and Rs.118/- to Mr. Bajiro Mane who came to me for the documents collection. As per my communication with Mr. Bajiro, this amount was supposed to get deducted post getting approval on loan amount; however, to my surprise this amount got deducted on 25th Sep 2020 and till date I have not received any loan amount. When I spoke to their senior Mrs. Sangeet Mahato who also works in the Axis Bank Home loan department; She informed me that due to technical reasons my loan amount was not sanctioned. When I asked her regarding the processing fee refund, they completely denied the refund. Please guide me on what legal action I can take against them.

Expert's Answers(2)

xxxxx cxxxxx
Bengaluru, Karnataka

184 Client Ratings

Dear Sir You may approach banking ombudsman and resolve the issue. Please mark “LIKE” if satisfied by my answer.

October 21, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

First of all file an Application with the Bank under Right To Information Act to know the exact status of the loans Application. Only then You will know the Status but the conditions for refund of the said amounts may be got mentioned in the basic agreement you also needs to obtain that agreement to get your grievance redressed. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

October 20, 2020