Hello,

I have a housing loan from south indian bank...its been 4.5 yrs now that Im paying my EMI's regularly.
1. As per the normal procedure that a certain % of the EMI should be considered the Principal amount, in my case for FY 2011-12 the entire EMI was taken into only Interest account without this being intimated to me. I got to know about this last week when I had asked for a provisional cert to be sent to me for my IT claim.
2. I had also asked for my on statement where in I saw that a certain amount of money s regularly being deducted from my account along with the loan amount (Rs 40-Rs 70) every month. This amount is being deducted under Penalty section. Upon asking for a clarification on this..I have not got any response. All my EMI's have been on time never late. I dont understand as to why this penalty charges has been claimed every month.

How do I get the information and my money back from the bank? and can the bank claim the entire EMI amount for an yr just for interest account without initmating/asking permission from the customer?

How do I proceed with this?

Your help and advise is much appreciated.
Thanks
Testa Simon