Axis Bank / axis bank - home loan emi not getting deducted correctly

United States Review updated:

I have AXIS bank home loan. They are not deducting my EMI as I had paid 1, 00, 00o additional amount to be adjusted towards my principal. However AXIS bank is saying the problem is because the additional amount is not adjusted so it appears that I have more funds and hence EMI is not getting deducted as per the schedule.

I am calling them for the past 1.5 months and each time I hear it gets adjusted that day and the EMI will be deducted. However It does not happen. So I am trying to undestand:

- what is the excess interest I have been paying for AXIS bank not adjusting my principal and not deducting EMI on time.

If I ever get answer, I will update. Wish me luck.

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  • Ra
      Feb 03, 2009

    My Friend!

    I'm in the same boat. Their loan processing system is very weird. If you make the part payment up to 10 days before the EMI deduction date, AND your EMI is deducted from AXIS bank SB account, you will have the problem. Strangely, if you make the part payment AFTER the EMI deduction date, OR if your payment is through post dated checks OR through ECS of another bank, you won't see the problem.

    I talked to several of their employees, managers before acquiring this gyan.

    I am planning to lodge a formal complaint and send it to banking ombudsman.


    0 Votes
  • Am
      Feb 22, 2009


    Have you done anything on it... as the same happened with me as well. My payment is thru some other bank ECS and even then my usual EMI has not been deducted ... i guess because of the overflow fund in my home loan account.

    0 Votes
  • Je
      Aug 03, 2017

    @Amit HI, It happened to me as well, My Jan Month EMI is not being adjusted till now. And very recently i paid around 8.5 lakhs as partpayment, still it is not being adjusted. I have complained to axis bank support team, nodal officer, banking ombudsman . Still it is not being resolved. Any suggestions.

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