• Home
  • Finance
  • Shreyaa Kapoor Reveals: How Your Bank Might Owe You Money on Your Home Loan

Shreyaa Kapoor Reveals: How Your Bank Might Owe You Money on Your Home Loan

Shreyaa Kapoor brings to light an important banking oversight regarding home loans, explaining how banks could end up owing you money for failing to return your property documents post-loan repayment, as per RBI's recent mandate.
Shreyaa Kapoor,Shreyaa Kapoor Instagram,home loan,home loan rights of customer

Shreyaa Kapoor Reveals: How Your Bank Might Owe You Money on Your Home Loan

Photo Credit: Shreyaa Kapoor Instagram

  • Shreyaa Kapoor is a finance influencer
  • She shares how the bank owes you money in case of a home loan
  • Check out the details below

In the complex world of banking and finance, certain policies can significantly impact borrowers, often without their knowledge. Shreyaa Kapoor, a renowned finance influencer, sheds light on a critical issue that could affect countless homeowners across India. Many are unaware that banks may owe them money due to a common oversight: failing to return original property documents after a home loan is fully paid off. Thanks to Shreyaa's insights, homeowners can now understand their rights and possibly benefit financially.

The Common Oversight by Banks

It's a widespread issue for banks not to return the property documents even after the home loan has been completely settled. This negligence can leave homeowners in a precarious position, lacking physical proof of their ownership free from encumbrances. Shreyaa Kapoor highlights this problem to raise awareness among homeowners about the potential issue lying in their seemingly concluded loan agreements.

RBI's Directive to Banks and NBFCs

Responding to numerous complaints, the Reserve Bank of India (RBI) has taken a stand to protect consumers' rights. Shreyaa informs her audience that the RBI has mandated all banks and Non-Banking Financial Companies (NBFCs) to return all original property documents held as collateral within 30 days of the full loan payment. Failure to comply with this directive results in a hefty penalty imposed on the institutions responsible for the delay.

The Financial Penalty Explained

The penalty for banks' non-compliance is substantial, amounting to INR 5,000 for each day of delay in returning the documents. This ruling is a significant win for homeowners, offering them financial recourse should the banks fail to return their property documents in the stipulated timeframe. Shreyaa Kapoor emphasizes the importance of this policy, urging homeowners to be vigilant and ensure their banks adhere to the RBI's directive.

Applicability of the New Rule

This rule applies to all home loan repayments completed after December 1, 2023. Shreyaa urges her followers to be aware of this change, especially those planning to settle their home loans soon. Understanding this policy is crucial for all current and future homeowners, ensuring they are not left at a disadvantage due to administrative oversights by their lending institutions.

Shreyaa Kapoor's revelation about the RBI's mandate is a crucial piece of information for every homeowner with a loan. It underscores the importance of being informed about your financial rights and the obligations of financial institutions towards you. By spreading awareness of this rule, Shreyaa not only empowers homeowners but also holds banks accountable, ensuring they practice fairness and diligence in handling property documents post-loan repayment. Homeowners take note: your bank could owe you money, and it's essential to know how to claim it.


  • 5 ★
  • 4 ★
  • 3 ★
  • 2 ★
  • 1 ★
Post Comment Post Comment

Related Influencer