Avanse Financial Services — irresponsible behaviour of staff

Address:	800013
Website:	comsumer complaint

The avanse financial service
Bangalore dated: 29.10.2017
Dear sir,
With due respect, i wish to inform that i have taken an education loan of rs. 35, 00, 000/- for higher studies of my son, mr. Pritish yuvraj from your institution, bangalore. For betterment of the company, i want to share my experiences regarding irresponsible behavior of an employee concerned for this loan.
When i applied for loan, madam purnima has contacted me. Previously, her response was good but after sanctioning of loan, i found sudden changes in her behavior like not pick up my phone, not responding to the sms and mails send by me. Sometimes, she wrote “i am busy, i will call you back” but she never called me. So i am feeling very bad. My queries are not being solved.
When the loan was sanctioned, she started to compel me to withdraw the full sanctioned amount and keep it in my savings bank’s account and the college fees will be paid from my account through cheque by her. But i didn’t give her my consent regarding the same because of two reasons. Firstly, i have to pay a higher rate of interest for unutilized amount & secondly, money may be expensed for other purposes. I told her to disburse the amount only what is required by the college, then she told me that it is the company’s policy not to disburse the next installment before lapse of six month from the date of first disbursement otherwise i have to arrange the amount from my own source. I could not understand her logic. I asked her to show me the terms and conditions of the company where it was written, but she has not answered me till now.
When the first installment of loan rs. 1300000/- was disbursed, i requested her to help me in transferring of the fund to the college because it was my first experience to do the international transaction. She assured me but later she neither helped nor advised the way, also not even picked up my call. I became very anxious. Somehow, i managed to send the college fees with the help of other private agent and for that i had to pay rs. 500/-for the service.
At the time of loan documentations, eight cheques were required by the company, and told me that the cheques will be utilized for transfer of the fund and two cheques were debited from my account without my knowledge. First cheque, number - 180682 for rs. 1434/- on 04.10.2017 and second cheque, number - 180681 for rs. 5000/- on 11.10.2017. First cheque was honored but second cheque of rs. 5000/- was dishonored due to shortage of only rs. 200/-. When i got the message from my bank i tried many times to contact her but she did not pick up my phone. I simply want to know for what purpose these cheques were debited. There must be a system to inform the customer before producing the cheque for payment so that customer can arrange the fund of that amount in the account. I am a service man and it is well known that october month is a festive season. There is a huge expense regarding festivals.in spite of that, two cheques were produced without any knowledge and it is a matter of concern.
Due to her irresponsible behavior i am feeling hopeless and being cheated because whatever she had told, not acting or responding according to that.
It is the first time in my career that the cheque has bounced. For that i feel guilty and insulted without my cause.
I have also requested her to provide me the user i. D. And password to login and see my loan account status.
Recently i received a sms - “mandate registration umrn sbin[protected] for rs 1, 64, 214.00 issued to avanse financial services.” i was not clear with the message and again tried to contact her but got no result. Lastly i sent her a sms regarding the same for details and still waiting for her reply.
I, therefore, request you to kindly look into the matter and help to reduce my anxiety, also provide me the contact number of some other person for future correspondence.
Thanking you.
Yours faithfully

(Krishna kumar sinha)
F/o mr. Pritish yuvraj
Loan account no-