| Address: | No 9, Block A, MG Road, Bengaluru, Karnataka, 560001 |
Hi,
I've taken personal loan with axis bank for the tenure of 2 years. I almost completed 14 months emi and balance is ongoing.
Due to this covid lockdown in india, rbi instructed banks to offer moratorium on the loans & emi for 3 months. But it is optional for the consumer and who wants to avail the facility they can avail it.
On 03-april-20, i got a text message from axis bank and following is the content.
// text message //
"dear customer, in accordance with the requirements of rbi guideline on covid-19 regulatory package, if you wish to avail the moratorium with respect to payment of installments pertaining to your personal loan account xxxx5266 for april'2020 and may'2020. Please submit your request at https://www.axisbank.com/avail-moratorium-on-bank-emi"
// end of text message //
In the above text message content it is very clear that if i wish to avail the moratorium i can avail it. There is no further information / instructions by axis bank on this moratorium subject by sms / email.
But it seems axis bank had put default moratorium on my personal loan which i have not requested as i don't have financial impact. My emi is on 5th of every month but still the emi is not deducted from my account.
During this moratorium period interests were added to my outstanding and loan tenure will be extended for further 3 months. Which i am very much aware so that i am interested to opt for moratorium. But opting default moratorium on consumers without their concern is not a good way of business.
On this subject, i have contacted my loan executive (Mr vinod) on 06-apr-20 and he connected me with his manager mr punyaslok chatterjee. During my conversation with mr punyaslok chatterjee he confirmed that there are back end works are going on for loan emi's and your emi will be deducted within 2 - 3 days as there will not be any default moratorium. Also there is no interests or extension of tenure will be charged.
Since i have not requested for moratorium on my emi's, i am not liable for any interests, penalties or extension of loan tenure on my personal loan account xxxx5266.
I request axis bank to take immediate action on this complaint.
Best regards,
Hariharan vijayakumar
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