Dear Sir,
I had taken a Home loan with vide Loan Account No.[protected] with an EMI of Rs. 6163 for 15 years at 12.5%.
I wish to close this loan account after 4 years. So I started contacting their toll free no. but seems there system is not updated every time when I call and they redirect me to the branch from where I had taken the home loan.
On June 20, 2011, we had a conversation with Mr. More at your Ghatkopar Branch office, regarding the prepayment of our home loan, we were suprised to hear the outstanding balance of Rs. 4,79,804 with prepayment charge of 4% on actual outstanding and overall 33 installments has been deducted so far. But on referring the payment chart, shows total 39 installments upto June 2011. Also in the payment chart, it is clearly written as "Prepayment Charges before 12 months is 4% and after 12 months 3%". Again, this is not justified.
By a good amount of phone calls for Address of Ghatkopar branch office, we visited your Ghatkopar branch office on 22nd June 2011 and met Mr. Rafiq, even he had a same version of amount in his system. We asked him why your systems are not updated, but he couldn't able to answer and he has given your no. for further clarification about the same. It seems like passing the buck.
With further telephonic conversations, we came to know that company had revised their interest rate and same was intimated to me in any form. My principal amount was Rs. 5,00,000/- was changed to Rs. 5,10,000/- due to this hike in interest rate (God knows how their maths work) and entire payment chart was changed on the basis of 13.5% rate again not justified and not intimated.
I landed up by paying Rs. 4,98,000.00 which is more than what I expected. I got a receipt from the FICCL and asked for the property papers. They promptly answered that the papers are in their head office which will be couriered to the branch within 15 days. But almost 2 months are over no sign of property papers.
At last I received my Home Agreement Documents from FICCL. After series of emails to Ghatkopar branch and continuous arguments with the Branch Manager Mr. Gautam Koparty the whole process ends in 5 months which can be considered to be a shameful and I am the total loser here.
The Branch Manager, Gautam Koparty itself telling me that "It is not my lookout". Then why the hell is in that post. Prompt help has been received by their subordinate Mr. More and Mr. Rafique. Because of these 2 peoples, the matter was not much escalated.
People in general are hereby advised to think twice before taking any loan from this Company.!!
If you need further clarification, you can call me At [protected].
