Bank Loan topup over charges

Dear Sirs,

i have requested for a loan topup from EmiratesNBD for family emergency for a sum of 50000DHS , i was shocked when they released 42000 and deducted 11000 for charges which according to them it was cancellation of old load , fees for new loan and something else which they couldnt explain , is that legal to do ? can i do something about it ?

thank you in advance.

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One Response to Bank Loan topup over charges

  1. KK Bose says:

    When a topup loan is granted, banks normally deduct whatever amounts due to them in the previous loan. Banks may also charge processing fee etc., which a borrower can ask before availing the loan.

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