[Resolved]  Fullerton India Credit — required loan closure letter with positive cibil score

Address:	500040
Website:	www.fullertonindia.com

Please read the points with little patience:
1. I was in need of money for my father carcinoma treatment, so i approached sr nagar fullerton branch for personal loan in feb 2013.
2. Fullerton employee named mr. Raju checked my salary slips bank statement and other documents and informed me i can get a loan of one lakh at that time my salary was 12, 800/- per month. He informed me the rate of interest for loan would be is 18.25% emi 4, 641/- 48 months.
3. I accepted the loan and an amount of 1, 08, 518/- was deposited in my account on[protected] by fullerton. I am thankful that helped my father’s treatment.
4. I paid emis regularly upto 16 months and suddenly i got a phone call from mumbai customer care service saying that i am eligible for a top up loan of 50, 000/-
5. I accepted the top up loan, i asked the lady in phone call about the rate of interest for top up loan. She answered me that their executive will come to my home.
6. Next day their sales executive mr. Prasad came to my home and took my documents for process and he took all my signatures on loan agreement letter without filling the rate of interest and loan principal amount.
7. Next day he called me and said i got a top up loan of rs 49, 669/- for lesser rate of interest when compare to main loan and emi slightly increased to 5, 944/-
8. I got rs 49, 669/- in my account the next day on[protected] with emi 5, 944/- i paid for 10 months regularly.
9. Suddenly i got a call again from fullerton mumbai customer care saying i am eligible for top up loan 50, 000/-
10. At that time my father condition was critical. He was under radiation and chemotherapy treatment so immediately i accepted the loan.
11. Same executive mr prasad came to my home and took my documents again and informed me that i am eligible for 55, 220/- with lesser the rate of interest compare to the first top up loan.
12. Emi slightly increased to 6, 890/- for which i paid 33 emis regularly and i cross checked the amount paid by me till date and amount credited by fullerton in my account as shown in the table.
13. I called to sales executive and was informed by sales team that my first loan rate of interest was 34.55%. But i was informed at the time of loan process 18.25% by mr. Raju at sr nagar ameerpet branch.
14. It was too late by me to realize and to calculate the amounts. I paid nearly 1.5laks more than what fullerton has deposited in my account.
15. I went to their office in begumpet and collection dept manager is saying to pay me 92, 914/- which is completely injustice to consumer.
16. He informed me to pay 40, 000/- for settlement of loan and my cibil credit will be 480points with negative loan records as in future i will not get any loans from any banks
17. Is this not fair from fullerton india credit co ltd., as i am a common person of this country. I am not a corrupted person to have black money and give to you. All i earn is of my blood and sweat hard earned money.
18. I have to feed my family house rent, milk bill electric bills food health then i have little savings that hard earned savings i am paying as emi to fullerton.
19. Kindly look in my issue and please give me loan closure letter with positive cibil report.
Type of loan loan number amount deposited in my a/c by fullerton date rate of interest
Main loan
[protected] 1, 08, 518.00 [protected] 34.55%
Top up loan 1
[protected] 49, 669.00 [protected] 32.10%
Top up loan 2
[protected] 55, 220.00 [protected] 25.50%

Total amount deposted by fullerton in my bank account 
2, 13, 407.00

Emi amount
Number of months paid amount paid

Main loan emi 4, 641.00 (02/2013 to 07/2014) 16 months 74, 256.00

Top up-1 emi 5, 944.00 (08/2014 to 05/2015) 10 months 59, 440.00

Top up-2 emi 6, 890.00 (06/2015 to 08/2018) 33 months 2, 27, 370.00

Total amount paid by me to fullerton  3, 61, 066.00

Thank you
Bharath bhushan
Hyderabad india
Im. [protected]@gmail.com