Bank of Baroda Incorrectly Applies Loan Prepayment as EMIs

Imagine you have an education loan.

You pay extra money to the bank to lower how much you owe and save on interest.

The bank should use this money to reduce what you owe, but sometimes, they might use it to pay future monthly payments instead.

This article talks about what you should do if the bank did not reduce your debt as intended.

First, talk to the bank and write them a letter.

If they don't fix it, you can file a complaint online.

If that doesn't work, you can complain to a special office that helps solve problems with banks.