Finlinker — incorrect collection of processing fee basis false commitments
Pupushkar_4 on Jan 15, 2019
This is with reference to Approval No. Axis Bank/ PH_LNPHG_FLOATING_BRE/ 8185906/ RAC - DELHI WEST ASC/ 18-19.
I was coordinating with Kapil Singh from Finlinker for a housing loan and was told as under:
- Rate of interest will be 8.40%
- Processing fee of Rs. 5, 000 (plus GST) payable at the time of "Disbursement"
However, even before the sanction letter, I was told that I have to pay 50% of processing fee before sanction and it shall be refunded in case the loan terms are not as per the verbal communication/ I do not go ahead with the disbursement. Accordingly, cheque No. xxxxx for Rs. 2, 950 was issued by me (same was cleared on 11 May 2018).
However, the Sanction letter mentioned the following:
- Rate of interest of 8.65%
- Processing fee of Rs. 11, 800 (including GST)
Further, on 15 May 2018, I was verbally communicated by Kapil that Rate of interest will be 8.45%.
Considering that I had to make an immediate payment to the builder, I went ahead with another bank (which offered better terms) and communicated the same to Kapil on 15 May itself. He agreed that he will facilitate the refund within 7 days (This conversation took place in front of my family member) in Gurgaon. Despite numerous follow ups on email/ messages and calls, and multiple false assurances (like before), refund has not been processed. Mail trail attached for reference which Kapil has not even bothered to respond.
Accordingly, I am writing for refund of the processing fee which was incorrectly charged from me. It has been a long time and would appreciate if the same is processed immediately.
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