Home Loan interest starts date in case of Balance Transfer.

[paulvijay78]

Recently I am going to transfer my home loan balance from PNB Housing finance to LIC housing finance. LIC housing finance handed over me cheque of balance transfer on 04/06/2024 and start interest on this amount from the same day.
But the cheque is in clearing till date, the amount is not transferred to my previous home loan account of PNBHFL.
PNBHFL is still calculating the interest on balance amount. PNBHFL and LICHFL both the calculating the interests. Both HFL companies charging interest from me for same period. What should I do?

 

[paulvijay78]

Are there any guidelines from RBI that Housing Finance company or Bank cannot charge interest till amount is not transferred to customer's account. if yes kindly provide me.

 

[RITIK OJHA]

i have a solution for this situation you have to connect that agent or branch jiske through process hue hai and go to pnb housing finance and ask for NOC(no objection certificate ) and also connect with lic finance and loan schedule of your housing loan

 

[paulvijay78]

i have a solution for this situation you have to connect that agent or branch jiske through process hue hai and go to pnb housing finance and ask for NOC(no objection certificate ) and also connect with lic finance and loan schedule of your housing loan

Yes it will be great. Thanks Sir

 

[Kalyan]

Recently I am going to transfer my home loan balance from PNB Housing finance to LIC housing finance. LIC housing finance handed over me cheque of balance transfer on 04/06/2024 and start interest on this amount from the same day.
But the cheque is in clearing till date, the amount is not transferred to my previous home loan account of PNBHFL.
PNBHFL is still calculating the interest on balance amount. PNBHFL and LICHFL both the calculating the interests. Both HFL companies charging interest from me for same period. What should I do?

Unfortunately,there is no wayout,as both will charge interest rates.