My name is Manish Kohli,
I want to apprise you that I have applied a personal loan request of Rs 80000 Agreement (account) number 401PST56957353 in page no.1 of attachment and that was approved with rate of interest mentioned was 33%. And page number five of attachment shows that rate should be between 12% to 14% as per advertisement. Amount disbursed on 29th October, 2017. Details are as follows which are introduced to me before loan approval by your officials.
Loan amount requested: Rs.80000
Principal made by you:Rs.81594
Amount disbursed: Rs.72595
Interest rate offered by you at the time of loan request: Rs.14% to 16%
Loan will be a flexi loan and second loan of my mobile will not be clubbed with this personal loan.
My first problem is that after the approval of loan I got 72595 Rs. as disbursed amount and increased my principal amount from 80000 Rs to 81594 Rs. Your agent also told me that this loan is a flexi loan and rate of interest mentioned by him was 14% to 16%. You have charged nearly Rs. 7505 as file charge and convenience fee. I want to know how it comes to Rs.7505. Is your convenience and file charges are Rs.7505 for this loan is correct? If yes then how? And How this loan amount of Rs.80000 shown in page no.4 of attachment converted to Rs.98367 shown in page no.1 of attachment?
Secondly, you are charging interest rate of 33%. Shown in page number one of attachment. How can you charge this interest rate without any notice given to me. This is completely deception.
2. When I applied for this personal loan before that I had also purchased a vivo mobile V7 + phone on loan from your company on 30th September, 2017, having account no. 401DPF52287981 which is interest free which is shown in page number three of attachment of Rs. 21992. Down payment done was Rs.5498 that is two EMI, shown in page number 2 of attachment as well as in page number 3 of attachment in advance EMI total EMI was eight, remaining EMI payment is as follows 2749*6=Rs.16494, Down payment plus EMI= 5498+16494=21992 Rs. Tenure of EMI was from 5th November, 2017 to 5th June, 2018, which is interest free. Now you have added remaining Six EMIs amount of mobile i.e. Rs. 16494 with the amount of my personal loan and also convert EMI of that remaining Six EMI into 36 monthly EMI according to my personal loan and charging hefty interest rate of nearly 33% instead of 14% to 16%. As shown in your advertisement . How can you combine two loans in which one is personal loan having rate of interest and another is interest free mobile loan?
Now your company is charging interest on my interest free loan of mobile loan which is shown in page number three of attachment.
According to my personal loan, you have made 81594 Rs. Principal amount on my 80000 Rs. Loan request, in which interest is Rs.34841 which is shown in page number four of attachment total becomes 156240 Rs.
After clubbing, my installment charges increased from 3234Rs. to Rs.4340. My installment should be Rs.3234. From page no. 4 you can see that principal OS is 81594 divide this into 36 installment i.e. 81594/36= Rs. 2266.5 and interest is shown is 34841 divide this by 36 it comes 34841/36= Rs. 968, now add this 2267+967= Rs.3234, and if you add my remaining mobile loan amount of Rs.16494 and divide by 36 it comes about Rs.458, and the total of two loan installments will become Rs.3692 and now your are charging Rs.4340, means you are taking interest on my mobile phone loan which is an interest free loan which is shown in page number three of attachment.
This is completely a fraud. How can you club my two different type of loans without taking my assent?
You are requested to kindly make a possible solution to my problem as early as possible. I cannot tolerate this harassment anymore as your customer care number is always unresponsive and unreachable, I had also visited at your outlet at Central Market Delhi to complete my one loan of mobile for paying rest full amount but they rejected my request and they said that your personal loan was approved only due to this mobile phone loan so you cannot pay this mobile phone amount individually at one time. Is this your policy or any condition?
I purchased my phone on MRP but that was without interest as told by your employee Sh.Deepak.
So, you are requested to kindly bifurcate my two different type of loans and adjust my EMI accordingly or make any other solution. Till date I have paid 10 installments upto 13th September, 2018 .
One more request is that EMI deducted from my bank account is on 2nd of every month but I receive my salary on 10th of every month due to this I have to bounce charges many times. So, you are requested to kindly change the date of auto debit of EMI from 2nd day of every month to 10th day of every month. Otherwise I will have to go to my bank and have to stop this auto debit payment installments which you are debiting from my bank account as I am not in a position or able to pay bounce charges every month this is your responsibility to solve this problem.
Kindly oblige me by giving a positive and befit reply of my problems as your customer care and customer outlet(Central Market, Delhi) are very unresponsive and also provide me your office number that is reachable and responsive at office timinigs.
Yours faithfully
Manish Kohli
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