Indusind Bank — Cheating, forgery & misrepresentation of the information

Address:

Hyderabad, Andhra Pradesh

Dear All, I want to highlight the fact of How Indusland bank officials are operating & working in Hyderabad when processing the two wheeler loans . I have taken two wheeler loan from Indusland bank in the Month of October -2012 from Honda Showroom in Somajiguda Hyderabad. Following events followed right from me approaching them for quote and till purchasing the bike. 1. I have made an inquiry with Honda Showroom in Somajiguda Hyderabad and finalized the bike Honda CB Twister -Drum/ Electric start model. 2. The quotation which was given to me at the showroom for onroad price is 56, 608/INR. They have suggested me to go for Loan as i asked them about EMI option. 3. The Executive ( Jehangir) who approached me from Indusland Bank showed me about the down payment & EMI option for purchasing the vehicle. Total Onroad cost of Vehicle- 56, 608 INR Downpayment Made: 22, 406 INR Financed Amount- 34, 406 The EMI that was agreed was about 2, 000 INR per month as agreed and total duration was for 2 years. Intitially after everything was done and processed and to my surprise the file did not get closed for almost 2 months and i was never initimated of following hidden charges & misrepresentation of the total loan amount. According to their statement given to me recently, Following is their hidden & extra charges: 1. Processing Fee: 2. Documentation Fee: 3. Personal Insurance( which was never opted again) Fraudulently there was an agreement made on my behalf showing that i have financed the amount of 39, 500 INR from the Indusland bank where in the amount was 34, 400 ONLY as per my agreement which i have singed and receipt. According to the receipt and documents given to me: Total On road cost of price: 56, 606 Down Payment Made: 22, 306 Finance Amount- 34, 400 They have added additional 5100 amount in the loan amount which have never been agreed in writing with the official or the bank. The Officials of indusland bank in Somajiguda Branch has fraudulently manipulated the information to process the file and put on additional charges on my account. I request all the concerned senior authority of the Bank to look in to act of deception & forgery by their officials and putting the burden of extra payment on behest of the client. I wanted to foreclose my loan however because of this manipulation & fraud, i have dropped my intention of foreclosing the loan and henceforth will stop the payment towards the EMI & take up the matter with Consumer Court. Thanks and Regards, Khurram Mahmood Mob: -0091-[protected]