UCO Bank Jadavpur Branch Kolkata, disbursed a loan of Rs 63,800. The interest rate in 2002 was 11.5. The repayment amount as per the sanction letter was Rs 2700 p/m for 48 months. The repayment amount was later changed to Rs 1500 per month. There was no communication of the revised interest rates. There was no communication of the new tenure. Loan amortization schedule was not provided. Printed statements from inception was also not provided on repeated requests. All payments made so far has also not been captured in the Banks system. Recently the Bank contacted me to settle the total outstanding at 30. This was agreed. However the Bank insisted that they will provide a letter confirming the debt has been settled as per compromise. This would effect my credit scores and thus I declined.I am agreeable to settle the entire debt provided they show evidence of debt with the revised interest rate, loan tenure, amortization schedule and forgo interests on the account from the date my original complaint was made which was December 2010. Should the Bank unable to provide such documents and willing to settle the debt at 30 percent as advised to me earlier, I would then want them to provide me a letter confirming All dues has been cleared without any compromise. The zonal head confirmed that such letter can be provided however the branch manager declined such request. Everytime I raised the complaint, the issue was dropped saying they have provided documents. UCO suggests a letter with ref: EF. NO: UCO/JADAVP/251/2013-14 DATED 22-01-2014 has been sent. No such letter has been received as on 30th January. Please ask UCO to provide a Proof of Delivery. The loan amortization schedule is requested on a number of occasions. I require the same to know how the EMI was changed from 2700 pm to 1500 pm. I need a copy of the deviated loan approval letter along with the amortization schedule. Finally a copy of the Loan statement from inception. I have confirmed on a number of occasions that I am willing to pay off the dues (if any) as soon as I receive the documents. If I do not, then I’m willing to settle the debt at 30% as they offered provided they give me a no dues letter along with a CIBIL clearance confirmation. To ensure a resolution to this matter can you please ask UCO to provide me with either and send you a copy of the same for your records so that this matter can be closed once and for all.

I want the debt due with all documents as requested above. If the Bank wants me to settle the debt at 30 percent as offered by them, then I need to get a confirmation letter advising the loan is repaid in total and a CIBIL Clearance letter. (I will not accept a compromised settlement letter)

Complainant Information
name- abhiruproy