Well I did that Mistake in Year 2007 when Over a Loan Amount of 14L with a rate of 9.5% I Did a Top up of 3L. (Well I did that for my house furniture and every time I see my furniture it makes me cry even thinking about it).................... The Top Up Loan had a rate of 13.5%..... which was OK.

There were quite a few admin related things which went wrong First I sign on couple of documents which then were not OK with bank and then I did that all over again for another set which was required by bank......... and it all took me dozen of visits to builder to get some certificates and other painful things which spread this loan span to a period of around 2 Months............. which was a 2 days task frankly. But let me forget I did that.

In April 2007 finally the Saga Started................ and it was all going fine apart from teh burdening EMIS till I noticed that there’s something wrong with my Principal amount its not coming down at all. I took the Pain of calculation (which is abhorring for me) and came to a conclusion that these guys are doing something abysmally wrong although i couldn’t understand what and why ? Eventually the story turned out to be as worse as you could imagine. The had my whole Loan of 17L on rate of 13.5%............. Can you Imagine............... It was more than Jor ka Jhatka..... and I took it seriously but Alas after a Year of neogtioations and talk the only thing i could do was to xfr it to ICICI at rate of 8.75% after paying 2% foreclosure charges............... Well I was not going to another bank I was not making full payment but still around 50k was out of My Pocket (Leaving the Extra Interest which I paid)............. However there was no way out of this..................... so I did that............................. But Picture abhi baaki hain mere dosta....................

After all this I really wanted to get rid of this Top Up Loan.................. I Paid 1L Extra on that (Taking Loan from Family thinking that I will pay the remaining amount with my Next Bonus)...... and then when I went to Pay my 2nd instalment there was another revelation. The 1L which I paid earlier Had not even touched my Top Up Loan by near it all went to my Main Home Loan................. This Costed me Bloody 25k Extra for this Year.................

Is There Anybody listening this ? Can You Stop issuing Top Up Loan if you can’t handle it..........................

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Originally Posted by Unregistered

Well I did that Mistake in Year 2007 when Over a Loan Amount of 14L with a rate of 9.5% I Did a Top up of 3L. (Well I did that for my house furniture and every time I see my furniture it makes me cry even thinking about it).................... The Top Up Loan had a rate of 13.5%..... which was OK.

There were quite a few admin related things which went wrong First I sign on couple of documents which then were not OK with bank and then I did that all over again for another set which was required by bank......... and it all took me dozen of visits to builder to get some certificates and other painful things which spread this loan span to a period of around 2 Months............. which was a 2 days task frankly. But let me forget I did that.

In April 2007 finally the Saga Started................ and it was all going fine apart from teh burdening EMIS till I noticed that there’s something wrong with my Principal amount its not coming down at all. I took the Pain of calculation (which is abhorring for me) and came to a conclusion that these guys are doing something abysmally wrong although i couldn’t understand what and why ? Eventually the story turned out to be as worse as you could imagine. The had my whole Loan of 17L on rate of 13.5%............. Can you Imagine............... It was more than Jor ka Jhatka..... and I took it seriously but Alas after a Year of neogtioations and talk the only thing i could do was to xfr it to ICICI at rate of 8.75% after paying 2% foreclosure charges............... Well I was not going to another bank I was not making full payment but still around 50k was out of My Pocket (Leaving the Extra Interest which I paid)............. However there was no way out of this..................... so I did that............................. But Picture abhi baaki hain mere dosta....................

After all this I really wanted to get rid of this Top Up Loan.................. I Paid 1L Extra on that (Taking Loan from Family thinking that I will pay the remaining amount with my Next Bonus)...... and then when I went to Pay my 2nd instalment there was another revelation. The 1L which I paid earlier Had not even touched my Top Up Loan by near it all went to my Main Home Loan................. This Costed me Bloody 25k Extra for this Year.................

Is There Anybody listening this ? Can You Stop issuing Top Up Loan if you can’t handle it..........................