Help regarding documents - Team-BHP

rajesh1868 · 17th February 2008, 13:58

Hi,

I have taken ICICI car loan . As i didnt get *any* documents even after my first EMI was debited, i wrote to them asking to send all docs . i got one doc from them which detailed the emi breakup(amortization chart?). is this all what we receive while taking a loan? is there anything else that i should ask for?
will they send periodic receipts for the emi paid?(i have ECS)

HappyWheels · 19th February 2008, 10:07

Rajesh - there are no documents (atleast I never got any!). The loan amount was paid to the car company, i got my car, the emi was deducted from my account and now closed. documents on the way. simple and straight! :-)

narayan · 19th February 2008, 10:15

rajesh - did u keep a copy of all the loan documents you signed ? if not u can take the same from the bank ( dont know how easy thats going to be ) - along with that keep a record of the terms and conditions of the loan in a file

apart from that keep track of the month EMIs that are deducted.
check whether correct amt is deducted and by the due date
in case u dont find a debit on any month - call the bank and inform them. sometimes, even if there is some issue with ecs and ur emi is not debited, ur loan might go into first level of deliquency. so always better to inform the bank in case ur not debited..( not that this is very likely but i have seen this happening in the bank where i used to work )

lastly closer to end of loan, ensure no additional emis are debited and take delivery of NOC in original and get the lien removed in the RC book through RTO also

17th February 2008, 13:58	#1 (permalink)
rajesh1868 Newbie Join Date: Jan 2008 Location: Bangalore Posts: 28	Help regarding documents Hi, I have taken ICICI car loan . As i didnt get any documents even after my first EMI was debited, i wrote to them asking to send all docs . i got one doc from them which detailed the emi breakup(amortization chart?). is this all what we receive while taking a loan? is there anything else that i should ask for? will they send periodic receipts for the emi paid?(i have ECS)

19th February 2008, 10:07	#2 (permalink)
HappyWheels BHPian Join Date: Dec 2007 Location: Bangalore Posts: 703	Rajesh - there are no documents (atleast I never got any!). The loan amount was paid to the car company, i got my car, the emi was deducted from my account and now closed. documents on the way. simple and straight! :-) Last edited by HappyWheels : 19th February 2008 at 10:13.

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19th February 2008, 10:15	#3 (permalink)
narayan BHPian Join Date: Aug 2006 Location: gurgaon Posts: 628 View My Garage	rajesh - did u keep a copy of all the loan documents you signed ? if not u can take the same from the bank ( dont know how easy thats going to be ) - along with that keep a record of the terms and conditions of the loan in a file apart from that keep track of the month EMIs that are deducted. check whether correct amt is deducted and by the due date in case u dont find a debit on any month - call the bank and inform them. sometimes, even if there is some issue with ecs and ur emi is not debited, ur loan might go into first level of deliquency. so always better to inform the bank in case ur not debited..( not that this is very likely but i have seen this happening in the bank where i used to work ) lastly closer to end of loan, ensure no additional emis are debited and take delivery of NOC in original and get the lien removed in the RC book through RTO also