[Resolved]  Axis Bank Home Loan — CHEATED BY BANK ALL THE WAY THROUGH - LACK IN SERVICE

TAKE HOME LOAN FROM AXIS BANK AND " GHUM TE REH JAO GE ON THE AXIS "

WE HAVE UNFORTUNATELY TAKEN A HOME LOAN FROM THE AXIS BANK WAY BACK IN SEP / OCT 2006. HOME LOAN ACCOUNT NO [protected]

WE HAVE A NUMBER OF OUTSTANDING ISSUES REGARDING MY HOME LOAN WHICH I HAVE ASKED THE BANK FOR REDRESS THROUGH PERSONAL REPRESENTATION IN THE OFFICE OF MR MANISH GUPTA, AXIS BANK [HOME LOAN DEPT], BHANDARKAR ROAD, PUNE IN DEC 2007 AND THROUGH REPEATED EMAILS TO - AXIS RAC <Customercare.[protected]@axisbank.com>; ANIL DIGHE <anil.[protected]@axisbank.com>; Manish.[protected]@axisbank.com; SINCE THE EARLY 2008. TILL DATE NO RESPONSE HAS BEEN FORTHCOMING !

THE ISSUES ARE ENUMERATED BELOW

NO RESPONSE FROM AXIS BANK, HOME LOAN DEPARTMENT, ON THE ISSUE OF : -

A> WRONG CALCULATION OF INTEREST ON HOME LOAN - THE CALCULATION SPREAD SHEET WAS GIVEN BY ME ON TWO OCCASIONS TO MR MANISH GUPTA - I PERSONALLY LOADED ON HIS COMPUTER ONCE.

B> WRONGLY ROUNDING OFF OF DECIMAL PLACES AND CLAIMING IT TO BE A RBI DIRECTIVE. THE COPY OF THE DIRECTIVES WAS REQUESTED - BUT TILL DATE THAT HAS NOT BEEN GIVEN.
AND THE SAME ISSUE WAS CHECKED WITH THE AXIS BANK [SAVINGS BANK ] - WHO AGREED WITH MY CASE.

C> NOT INFORMING AT ALL OF THE CHANGE OF RATE OF INTEREST - HENCE DEPRIVING ME [THE CUSTOMER] OF THE CHANCE TO CHANGE / REVISE MY [HIS] EMI AND HENCE MAINTAIN THE TENURE OF LOAN - HENCE CAUSING A LOSS

D> THE INTEREST IS CALCULATED ON THE NUMBER OF DAYS IN THE MONTH [INTEREST * NUMBER OF DAYS IN A MONTH / NUMBER OF DAYS IN A YEAR]. 2008 BEING A LEAP YEAR AXIS BANK HAS CALCULATED THE INTEREST FOR THE MONTH OF FEBRUARY FOR 29 DAYS, BUT……….. THE DENOMINATOR WHICH ALSO HAS TO CHANGE TO 366 INSTEAD OF 365 HAS NOT BEEN DONE – THIS SUITS THE BANK AS IT COLLECTS INTEREST FOR ONE EXTRA DAY – THIS PROCEDURE HAS BEEN CONFIRMED BY AN EMAIL SENT TO ME FROM AXIS BANK. THIS AMOUNTS TO ABOUT RS 480 ODD IN MY CASE! IMAGINE THE QUANTUM IF YOU CONSIDER ALL THE LOAN ACCOUNTS THE BANK HAS. THE AMOUNT OF GAIN IS COLOSSAL / HUGE - CONSIDERING THE NUMBER OF PEOPLE EFFECTED.

E> CLAIMING THAT THE CORRECT ADDRESS WAS NOT AVAILABLE WHEN THE SAME WAS GIVEN AT THE TIME OF APPLYING FOR THE LOAN AND SUBSEQUENTLY THE REVISED COMMUNICATION ADDRESS WAS PROVIDED ALONG WITH MOBILE NOS AND LANDLINE NOS.

F> CLAIM BY MR MANISH GUPTA THAT - THE BANK CANNOT AND WILL NOT RESOLVE THE ISSUE AND THAT I [THE CUSTOMER] CAN KEEP TRYING TO FIGHT IT OUT, THE BANK HAS THEIR LAWYERS TO DEFEND AND FIGHT FOR THEM

G> LASTLY - NOT CARRYING OUT DOWN WARD REVISION OF ROI AND MAINTAINING A HIGHER ROI, WHICH IS AGAINST WHAT WAS TOLD AND DISCUSSED WITH ME WHEN THE LOAN WAS SOLD TO ME, THAT THE MARKET RATE OF INTEREST WOULD BE MAINTAINED, BOTH WAYS. IT IS PERTINENT TO MENTION THAT ALL UPWARD REVISIONS WERE VERY PROMPT - THAT TOO WITHOUT EVEN INFORMING ME.


H> I HAVE EVEN REPRESENTED MY CASE TO MR ANIL DIGHE WHO IS SUPPOSED TO BE IN CHARGE OF THE HOME LOAN DEPT AT THE AXIS BANK H/O, ALSO REPEATEDLY ASKED HIM FOR THE MOBILE NO AND EMAIL ID OF THE GENERAL MANAGER IN CHARGE - BUT TO NO AVAIL!

THESE ISSUES HAVE CAUSED ME IMMENSE HARDSHIP DUE FREQUENT AND REGULAR VISITS TO THE BANK BY MY WIFE AND CONSTANT MENTAL AGONY WHICH DOES AFFECT MY WORK ESPECIALLY AS A DEFENCE PILOT, BESIDES LOSS IN TERMS OF MONEY ON TWO COUNTS - EXCESS INTEREST AND LOSS DUE TO FREQUENT VISITS AND PHONE CALLS.


I PRAY THAT THE BANK BE ASKED TO RESOLVE THE OUTSTANDING ISSUES AT THE EARLIEST AND THE BANK BE ASKED TO COMPENSATE DUE TO - THE LAXITY AND IRRESPONSIBLE BEHAVIOUR SHOWN BESIDES CAUSING CONTINUED EXTREME HARDSHIP AND IMMENSE MENTAL AGONY - WHICH AMOUNTS TO LACK IN SERVICE PROVIDED ! IT IS ALSO PERTINENT TO MENTION THAT THE BANK APPEARS TO SHOW THAT THEY ARE ABOVE LAW AND CAN GET AWAY WITH ANYTHING AND EVERYTHING.