[Resolved]  Citibank — Non Compliance by Bank on Closure of Personal Loan

Dear Sir,

My name is Harsh Jhunjhunwala. I am a citibank customer with account number as [protected]. I had written to Citibank on 4th April to close my personal loan of Rs. 2,00,000 and to notify me of all the payments to be maid by sending me the details on e-mail or letter.

However, I didnt hear back from them for many days. Upon which I followed up with them and was told that the letter has been sent to my address. Upon rechecking I realized that they hadnt updated my address and contact details on their personal loan account despite the same being updated on the savings account. They then blamed me for not updating the address. I replied to them that since I had taken the loan from them using the savings bank account and had updated my details on the savings bank account I presumed that my address would be updated on the personal loan account. I wasnt notified by the bank to update my details on the personal loan while taking the loan.

Going forward, I then contacted them on 21st April via phone to update my personal loan account details so that they can send me the correct details. A lady from the citibank personal loan unit picked up the phone and upon my oral communication without any verification updated my personal account correspondence details. This itself goes to show that the mistake was from the Bank for not updating the details which led to the delay.

Further the lady promised me that she would send all the details on the e-mail by 25th April. However, I didnt get any details from the lady on the 25th April. I called up Citibank to find out reason for delay. The person who first picked up the phone refused to take a complaint and give a complaint number. Upon my persistence that I will file a complaint against him for not taking a complaint he took the complaint. Next, I was promised that all details would be sent to me by 2nd May. I had to talk to the person for over 1 hour to place the complaint as he delayed the complaint taking request leading to my suspicion that they didnt want to take the complaint.

I got a call from the same lady on 2nd May and she told me that even though they had promised that they will send the details by e-mail they wont be able to do so. She told me to accept her verbal quotation for pre closure and make the payment. I refused as I wanted a written communication for my records.

I then wrote an e-mail to citibank and then the lady called again on 3rd May. She promised that the quotation will be sent on 4th May via e-mail. However, on 4th May she again called and said that she cant send the quotation and told me to do the pre closure based on her verbal quotation which I refused.

Now I am unable to close this loan due to non receipt of pre closure statement from the bank. I have my serious doubt that they have delayed this thing by over 1 month now as they dont want to stop their interest payment.

I am incurring daily interest expenses due to this.

I would request you to please help me out with this.

Regards,
Harsh Jhunjhunwala