[Resolved]  Fullerton India Credit Company Limited — Fraud, Cheating and misbehavior

This is the complaint against Fullerton India Credit Company Ltd., These people approached me before six months asking me to apply for the personal loan in their company, but I was not interested in taking the personal loan from these people, as I was trying to take the loan in other banks with lesser interest rate, these people at that time said that the interest rate of their company is very less compared to others. They said the rate of interest is very low i.e. (0.60 to 0.80) will be charged.

They after seeing my bank statements has said I will be given Rs.75,000/- (Rupees Seventy Five thousand only) as loan amount, when I asked for the EMI’s and other information they said that they are calculating and they will tell the information afterwards. After two days they called me and told me that the Cheque was received and asked me to collect it, when I reached their office, they issued a Cheque in which the amount is Rs.69311/-(Rupees Sixty Nine thousand three hundred and eleven only) when I asked about it they said the rest of amount i.e. Rs.5689/- (Rupees Five thousand Six hundred and eighty nine only) was taken for the [Insurance + processing fee] = [Rs.2888/- + Rs.2801/-]. When I rejected to take the Cheque they threatened me by saying that I have already given them cheques for Electronic Transfer and even if I do not take the Cheque the EMI will be deducted from my account.

They said that the Insurance can be claimed by me in two ways i.e. 1. In case of death, it can be claimed, 2. In case of job loss I can claim the insurance and behalf of me the company will be paid three months EMI by the insurance company.

They said the EMI is Rs.3435/- (Rupees Three thousand four hundred and thirty five only) which is much higher interest rate than what they promised to me earlier. When I asked about that they said it will be gradually decreased. They also said I have to pay Rs.3435/- for 36 months, in which the (Interest + Actual amount) will be there.

When I approached for Insurance claim they used unparliamentarily words and have threatened me. Now they are saying that I can not claim the policy (But as per policy rules I can claim). They even have not given me my policy document.

Now they are saying the first six months will be taken as only interest i.e. (Rs.3435/- X 6 months = Rs.20610/-) will be taken as only interest. This they never said to me before. First they said actual amount and interest will be there in from the first EMI.

When I am issuing Cheque they are not allowing me to put the name of the company and are saying that if some mistake is there the Cheque will be bounced. They are misusing my cheques by transferring the amount from my account into their personal account which is also illegal.

When I intimated all these to their Head Office through email those people don’t even bothered to give response.