Fullerton India Credit — Changed Higher interest rate and Duration of Loan .

Fullerton India Credit — Changed Higher interest rate and Duration of Loan .

S swaghmare Apr 28, 2022 Jun 13, 2022 This thread was updated on Jun 13, 2022

My name is Sachin Waghmare and two wheeler Loan LAN number is [protected], i have taken Loan for duration of 23 months. It was conveyed to me by Auto Delear and Fullertron Agent that the intrest rate is be 11.8 % for 23 months . but latter on the duration was change to 24 months from backend and the intrest rate is 19.5 % . after complaning to Fullertron support Customer care, it was aggreed that the rate is less than 11.8 % and duration is 23 months . But still i have not received any revert on the issue also the ticket has been closed as resolved and there is no response from the Customercare support . Was this information helpful? No (0) Yes (2)
Fullerton India Credit customer support has been notified about the posted complaint. Verified Support May 05, 2022 Fullerton India Credit Customer Care's response Hi Sachin, we have responded to your email dated April 28, 2022. We request you to check our email at your end and respond at the earliest - Fullerton India. May 05, 2022 Updated by swaghmare The representative from Fullerton has asked the me to get the Rate of interest and Loan duration in written from My auto dealer ( EKvira) . By coming Saturday i.e. 07 may 2022 i will meet my dealer in person for the details and submit the same to Fullerton. Thanks Sachin Waghmare May 11, 2022 Updated by swaghmare Hi, Request you to arrange a meeting at nearest office / branch of Fullerton, I need to clarify how the difference is in the calculation, My loan is calculated @19.5 interest rate although the loan was sanctioned at 11 percent per annum by dealer. attached snapshot of dealer message. If it is standard practice to charge 19.5 percent to any customer like me for 23 months then let me know any document that indicated the same or explain me how it works I presume that the loan should be calculate by 11 percent per annum . following is the calculation: @ 11 % for 23 months EMI Principal interest 0 3289.80 2656.89 632.912 67812 1 3289.80 2681.69 608.1143554 65155.11 2 3289.80 2706.72 583.0852661 62473.42 3 3289.80 2731.98 557.8225719 59766.70 4 3289.80 2757.48 532.3240926 57034.72 5 3289.80 2783.21 506.5876275 54277.25 6 3289.80 2809.19 480.6109554 51494.03 7 3289.80 2835.41 454.3918344 48684.84 8 3289.80 2861.87 427.9280016 45849.43 9 3289.80 2888.59 401.2171729 42987.55 10 3289.80 2915.55 374.2570433 40098.97 11 3289.80 2942.76 347.0452857 37183.42 12 3289.80 2970.22 319.5795518 34240.67 13 3289.80 2997.95 291.8574709 31270.44 14 3289.80 3025.93 263.8766507 28272.50 15 3289.80 3054.17 235.6346762 25246.57 16 3289.80 3082.67 207.1291098 22192.40 17 3289.80 3111.45 178.3574916 19109.73 18 3289.80 3140.49 149.3173382 15998.29 19 3289.80 3169.80 120.0061434 12857.80 20 3289.80 3199.38 90.42137746 9688.00 21 3289.80 3229.24 60.56048702 6488.62 22 3289.80 3259.38 30.42089494 3259.38 request you to please look into the issue and do the needful at the earliest regards Sachin Waghmare Jun 03, 2022 Updated by swaghmare Hi, I had visit Fullerton Borivali Branch on Monday i.e. on 30th May 2022, As per Borivali Branch ONLY Area Sales manager can address the issue as they doesn't have any authority to give clarification on the interest rate i.e. is 11.8 % for 23 months . i hereby request you to please confirm that the annual interest rate allocated to me is 11.4 % but as per the industry practice the same is charged as 19.5 % by the Fullerton system. Appreciate if you acknowledge the mail and revert by today EOD, pls . Jun 06, 2022 Updated by swaghmare Request you to please look into the matter and reply to my mail . thanks Jun 13, 2022 Updated by swaghmare Request you to please look into the matter and reply to my mail awaiting your revert. regards Sachin Waghmare
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