Family Credit — undisclosed penalty at the time of purchasing 2 wheeler by dealer & l&t finance executive.

Address:

400081

I had take a loan for 2 wheeler for honda shine bike, the dealer suggested me l&t finance loan and we done within 2 days. But neither dealer or l&t executive told about bouncing charges.
My emi date was 5th of every month but it have been on 5th, 6th, 8th, 15th etc. I had to pay 320 p. M bouncing charges at the time of collecting noc for the l&t office.
Also i noticed many unhappy people (Customers) at their branch located at belapur, navi mumbai.
Also the bouncing charges have interest of rs 36% p. A. On bouncing charges which is quite high.
People looking to take loan from l&t finance please see that emi is been deducted on time or else youll be liable to pay penalty per month with interest of 36% or 32% per year.