[Resolved] Fullerton — Cheating

henrykingston

from Delhi, Delhi

Address:

Kerala

This is to bring to your kind attention that I had taken a personal loan([protected]) from your company on Nov 2009 for my Brother’s Marriage.I have cleared 18 EMI with an amount of Rs 81180.

At the time of Loan Disbursement,I was charged Rs 5000 as Insurance cover and was told that the Insurance company will under take the payment for 3 Months on event of me unable to pay the amount due to Financial constraint caused by job loss.This was communicated by Mr.Rajath,the Sales manager.But when I claimed the same to your Collection executive,Mr.Manu He told that its only applicable on event of death.Requesting a Clarity in this case.

I Wanted to Force close the Loan.I contacted Mr.Manu regarding this.He told that I need to Clear Rs 94,000 in case of foreclosure.I had paid Rs 81180 (18 EMIs).The Total amount for 36 Months comes to Rs 1,62,000.Howcome the Amount is higher for Force closure.Why should I Pay for the Interest for the Balance months.Please provide me the correct amount for Forclosure.

Would Appreciate that RBI takes action

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Aug 13, 2020

Complaint marked as Resolved

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Comments

nitingupte

from Chennai, Tamil Nadu

You are right. I am also cheated by this company. I have apply for force closure but the company demanded very high amount . But after 3 months defaulting they transfer my name to CIBIL and come to me for settlement. I paid the settle amount in one stroke and ask for insurance but they deny for any amount and also not issue a NOC for this closure of account. At the time of settlement the person from the company assured me that while getting the demand draft he will give the NOC but the company only issued a OFFER LETTER and told me that the NOC will be received by you after 45 days from Chennai.