Avanse Financial Services — Delay in Loan Closure causing Extra Interest

Address:	JB Nagar, Andheri, Mumbai
Website:	www.avanse.com

My name is Venkatesh Narendra Boga. I have availed education loan service from your company. This is regarding complaint number 382235

I have registered this complaint on 12th Aug 2022 where I have requested for foreclosure letter and received above mentioned ticket number and I was given the deadline of EOD. Unfortunately I didn't receive any response from your end and got registered my problem again wherein I was told that by next 2 working hours the concern team will sort out the matter and still didn't receive any response so I wrote multiple mails to we care but everytime I received a new ticket number in revert and finally ended with multiple ticket which were unable to track, So I started spending hours to reached to customer care team and to be honest, non of your staff are co-operative, nor they were able to resolve the issue, moreover they even failed to be on their commitment.

Its being more than 21 days now, and yet I didn’t received any solution from your customer care. Even the senior authorities/RM is not bothered to give a call and inform about the same, but finally I managed to convince a customer care team member and he arranged foreclosure letter, assisted me with further procedure to make payment and shared payment link but guess what? The funds in my account has been freezed by Avanse and this information was being provided by a staff from bank, but in this entire process non of Avanse staff informed me regarding this and when I requested to unfreeze they asked me to wait for next 21 days more.

This is the final option left for me that I have to write to nodal officer. I am sorry to say but the service quality of your company is deteriorating day by day. They have forgotten the meaning of commitment. Perhaps they are unable to assist their client who is willing to settle loan amount, might be to receive more interest by delaying foreclosure process.

I request you to tell me whether my problem can be solved at earliest. If it's time consuming atleast stop charging interest as the delay is from your end. If this is the service quality your company is offering, I will strongly recommend to stop planning further studies with help of such NBFC services. As this seems to be mental harassment to me and my family. Where, I am willing to pay the principle amount including interest amount still your company this unable to assist me.

In addition, let me inform you that I didn't even utilised this loan amount, as I was suffering with covid, I had to travel back to home town and unfortunately didn't complete my studies. Post recovery I visited Avanse branch office for closure request but they refused and asked to wait till maturity date( i.e. 6 months), to meanwhile I continued to pay interest amount timely, now after 6 months I am facing issue with settlement process, how can be a firm so merciless? Is it a govt. A company that you can't modify rules and regulations in such an exceptional instance? What stops you from providing excellent services and beyond satisfactory to genuine customers like us?

Kindly let me know why is the interest charged to me if the delay is from your side..

Thank you AVANSE for pathetic and frustrating Service, Do check my review on google.