| Address: | Avanse Financial Services Ltd. Building no. 35, 1st Floor, Ram Kumar Marg, Off Rani Jhansi Road, Near FedEx, Jhandewalan, New Delhi -110055, Delhi Tel |
| Website: | www.avanse.com |
I took a loan of Rs, 20.00 lakhs in 2018 for my sons US education - Masters. Their loan was granted in October 2018 @12% interest PA. They gave me moratorium period of 36 months and extended to 48 months due to COVID in 2020 and 2021. They gave me an ammortization statement in May 2019 @12% PA and got me to sign this.
In moratorium period I was paying Rs.2000/PM as service charge. Depsite of having balance in bank they would on 10th (day of installment) show payment bounce and charge overdue interest and penalty. Surprisingy on the same day 10th of the month in the afternoon their payment would show credited as per their own statement (surprising).
When Installments started in October instead of Rs.42, 542/PM they started deducting Rs.52, 427/PM. When I asked for clarification and asked for statement it showed 13.60% interest PA. When I asked for clarification they said it is due to REPO rate increase. Surprisingly the REPO rate at time of taking loan and on date of starting regular installments was the same. In fact during[protected] it had fallen but I never got a statement of this.
In May 2023 I paid only 25, 000/- instead of 52, 427/- asking them for reversal of supposed bounced charges amounting to almost 2, 24, 000/- till May 2023. Their office person came to my house when my wife was alone and threathened my wife with kidnapping and bodily harm (a Police Complaint was filed for this).
Since then from June 2023 and till date their requistie installment is available in bank on 10th of every month. Suddenly without informing me in June 2023 they deposited a cheque (we give 3 cheques at time of taking loan as guarantee) of Rs.14, 98, 000/- and obviously it bounced. They then threathened to file a 138 in IPC against me. Of course in June on 10th as they had not debited the payment of installment of Rs.52, 427/- thus I asked for a link and paid on 10th itself online. Nevertheless on 12th of June 2023 they again tried to debit through NACH and as I had paid on 10th there was less balance. They overcharged Penal fees on this. Then the deposited Rs.14.98 lakhs cheque and as it bounced due to insufficient balance they deducted Rs.5400/- as penalty and Rs.295X5 in 1 minuted saying this is due to bouncing. Isnt it strange that in 1 minute how can u bounce a payment 5 times.
Till date there is no over due payment. In May 2023 when I deducted Rs.27, 427/- by informing that this if first less payment as they have overcharged me by Rs.2.24 lakhs they in August 2023 after lot of email exchanges gave me a credit of Rs.10, 000/- as over charge. I have till date i.e. Sept 2023 paid all installments on time. Yesterday during these negotiations they have without my consent deducted Rs.17, 108/- from my account as I had signed their NACH form. They are monitoring my Bank account and the moment they see more money in my account they ad-hoc debit and deduct what comes to their mind.
I have emails and documents since 2018 including my bank statements. They keep threathining that AVANSE is a Kolkata based company and their Owner Mr.Amit Gainda is highly connected and I can get into trouble.
I am 64 and a retired person...PLEASE HELP.
AVANSE is a FRAUD.
Cant upload Photos and documents as they are too large - 5 years worth of wrong doing
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