Car Loan EMI Date

POSTED BY sumitanand84 ON December 17, 2011 12:50 pm COMMENTS (6)

I have a car loan running with Hdfc Bank and EMI date is 5th of every month.

I wish to have the ECS debit date changed from 5th to last week of every month.

After repeated tries, the bank is telling me that only 5th or 7th is available.

Is there any way out, i am finding it very hard to believe that i cant change the date of ECS debit.

Thank you.

6 replies on this article “Car Loan EMI Date”

  1. rightcar says:

    You will need to visit your nearest HDFC Bank Loan Service Centre with the following:

    Identity Proof (Pan card/Voter ID/Passport/Aadhar Card)
    Loan Account No.
    Registration Certificate (RC Book) for (Car, Two Wheeler or Commercial Vehicle Loan only)

  2. Dear Sumitanand, for the given situation that your bank is not co-operating, you may contact banking ombudsman & may complain there.

    Thanks

    Ashal

  3. sumitanand84@gmail.com says:

    @ ashal – i would prefer if you can stick to the point.

  4. Dear Sumitanand, from your reply, it seems that your cashflow is not in a good condition. From month end to start of the month, it’s a matter of just 8-10 days & if you are holding the EMI amount, where is the need to go for date change?

    I’m sorry if I hurt your feelings but in my view, you should take review of your cashflow position rather than doing the date change for car loan.

    Thanks

    Ashal

  5. sumitanand84@gmail.com says:

    Hi Ashal

    Arranging funds at the end of the month is much easier and is the preferred week for me, thus need a solution here.

    Even 1-2 hours delay on 5th of every month causes the EMI to bounce at times

    Changing the bank is a tedious process, wont prefer that.

    Thanks

  6. Dear Sumitanand, how about changing your loan itself from HDFC to any other bank? Can you put any specific reason for opting to change the ECS date from start of month to end of month?

    Thanks

    Ashal

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