Fullerton India — Personal loan higher interest rate charged of 24%

Address:

Mumbai City, Maharashtra

Dear concern, This is regards to the complaint case of personal loan which I took from Fullerton India in April 2012 with the top most higher interest rate of 24%. My concern is, I paid emis regularly when I was working till march 2014 after that I lost my job and the same time I inform Fullerton India about this. However I had managed to pay emi every month till Nov 2014. I took loan of 80000 on which Fullerton charged 80000 interest. As on date total amount paid by me is around 130000 approx. But Fullerton is asking to pay another 38000 which is not possible me to pay because I am jobless since march 2014 and I have no money at all to pay any further emis. If you see Fullerton India has received their principal amount which is 80000 and what they are asking to pay is only interest. At time of taking loan I was not aware that 24 % is much higher rate in the industry and I should not take it. On the basis of current situation they would have settled my loan. But they are not doing so and keep sending the person at my home. I request you to please intervene in the case. Details and mails attached. Niam savinkar [protected] Loan no [protected] Fullerton india Period 4 years Interest rate 24 % Amount financed 86000 Amount received 80000 Interest charges 80000 on principal.