Auto Loan *Hidden* Charges

[akop.4040]

Hi all,
We took a loan from a nationalized bank for our car last year. We have been debited many times for Rs. 118(100 I think is the basic fee & 18 gst) for cersai (Central Registry of Securitisation Asset Reconstruction and Security Interest - Wikipedia) and Rs. 50 for Vahan fee once about a year later after we took the loan.
Two questions-
Are these kinda charges applied by every bank?
Why does the customer have to bear these charges, if it is the bank's concerned department that is doing its job i.e. scrutinizing loans etc? I asked the bank about it and they replied a sarkari answer that it is their loan department that has applied that.
many thanks

 

[Nairrk]

Most of the banks charge certain amount initially as processing charge (one time charge), but not heard any other charges.

 

[akop.4040]

Most of the banks charge certain amount initially as processing charge (one time charge), but not heard any other charges.

The bank is sbi if that helps.

Check this
Central Registry of Securitisation Asset Reconstruction and Security Interest of India
As per this Rs. 100+gst will be charged if Particulars of creation or modification of Security Interest in favour of secured creditors is done. What is that supposed to mean in simple terms?

Contacted CERSAI they said registration on their site is mandatory and they charge from bank a one time fee of Rs. 100+gst. But it is upto to the banks whether to charge from the customers or not. About our account debited multiple times, they said it might be a mistake from bank's side.
About Vahan, whether it is necessary to register or not I can't say but they don't charge **** but banks are charging us
https://vahan.nic.in/nrservices/
https://vahan.nic.in/paidnrservices/faces/welcome.jsp
Vahan is also a government owned site which tells about people's name, vehicle's make etc. upon entering a number and anyone can view it. I wonder why is that thing open for all?

 

[Nairrk]

The bank is sbi if that helps.

I have not taken any loan from SBI or any other nationalised Bank for long .

Last 2 occasions I took a vehicle loan from Co-operative Bank and I don't remember they charged anything extra like this(CERSAI)!

 

[vijay_968]

... We have been debited many times for Rs. 118(100 I think is the basic fee & 18 gst) for cersai (Central Registry of Securitisation Asset Reconstruction and Security Interest - Wikipedia) and Rs. 50 for Vahan fee once about a year later after we took the loan...

Couple of times if this happens, it is OK with me, but MANY TIMES ??? Some gentleman has NOT done his job at the Bank. Ask them what and why they are doing this for. A simple personnel query will sort it out. Also, do meet the Branch in-charge and give an oofical letter demanding Credit back.

 

[akop.4040]

Couple of times if this happens, it is OK with me, but MANY TIMES ??? Some gentleman has NOT done his job at the Bank. Ask them what and why they are doing this for. A simple personnel query will sort it out. Also, do meet the Branch in-charge and give an oofical letter demanding Credit back.

They have taken my letter last month only but being a sarkari bank, I don't expect anything from them.