[Resolved] CITIfinancial — Citi financial executive threatening me

Durga365

Address:

Chennai, Tamil Nadu

Hi,

I took loan for 32,000 in citi finanical in the year of 2007. I paid fully by cash. Now my EMI has been closed in the moth of june 2010. I asked the executive to bring the NOC, but he said first you pay the amount i will provide the NOC. I said you bring that certificate and then i will pay the last EMI. But the executing has spoken to me in vulgar words that could not be tolerable.

I took 32,000 but i paid more than 65,000 in 3 yrs. Still they are disturbing me, i am mentally got upset.
Please do the needful.

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Aug 13, 2020

Complaint marked as Resolved

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Comments

rajansingh41

from Bilaspur, Chhattisgarh

Citifinancial — Beware of citi financial

This is Mangal Singh from Gwalior I have borrowed the loan of Rs. 28000/- from citi financial they charged me following
Total Amount I got Rs. 26000/-
Repayment up to June 2009 1350*12= 16200
Deducted for file charge Rs. 2000/-
Rate of interest 24.52%/ annum
Total payment balance Rs. 23100/- till June 9, 2009
I have paid Rs. 16200 but still they are asking for Rs. 23100/-.
They never cleared me at the time of taking the loan from their about the repayment scheme.
As told 24.52% per annum it is crossing 36% per annum including Rs. 2000 for file charge, Rs. 1000/- for VAT and other expenses as citi is showing.

Actual Amount of Loan 28000 Repayment up to June 2009 16200
Deducted for file charge 2000 Balance at the end of the loan agreement 23100
Total Amount in hand 26000 Total with one year 39300

Please clear me why should I pay this amount of money and what kind of business model is it.

Regards
Mangal Singh
A/C No. 15301007