Date of Disbursment of Loan and Broken Period Interest

POSTED BY Amit_Jha ON September 5, 2014 4:25 pm NO COMMENTS

Hi All.

I have taken a Home Loan from LICHFL. Below is the timeline.

Date of issue of Cheque-2oth Aug,

Cheque is given to LICHFL Advocate-26th Aug-

Date of registration of property and cheque is given to seller-28th Aug-

Date of realization of chque-Seller A/c  credited-31th Aug-,

It means the Loan amount is actually debited on 31st Aug from LICHFL  a/c  and Credited to seller a/c.

But LICHFL is charging Broken period Interest from 26th Aug itself. Is it fair?. I request to all member please share your experiance regarding broken period interest.  thanks

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