[Resolved]  Home Credit India Finance — about closing the loan amount

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New Delhi, Delhi

Home Credit India Finance — Fraud of chor company home credit india


I have taken a personal loan from "Home Credit India" on feb 2018. They have provided me with a personal loan of eighty thousand rupees (Rs.80, 000/- received after documentation fee).
Their interest rate was too much high than the market rate but since I was need of money so I agreed to pay 40.01% per annum (3.33% every month). I took this loan for 30 months.

Also I have told the sales executive that rate of interest is too high, Can I foreclose the account anytime ?

Their Salesman (Over the Phone) said you can foreclose the account only after 6 months and their will be no extra charges to close the account permanently.

I agreed over the phone then I do have my documents which was already with them because I was the existing customer too.

I agreed to pay Rs. 5339/- every Month and the loan sanction to me for 30 months (Duration) but I was told that I can foreclose it after 6 months.

After when I contacted them on the 7 Month (September 2018) when I asked them that how much is the balance due own me so I can permanently close this account and the executive over the phone said Rs. 74117/-, after that I was like what ?
Till that time I have paid them nearly rs. 37373/- but still they were asking me to pay 74117/- I have ask them about the calculation many times but every time they said it's a computer generated amount and did not explained the full calculation.

I am very disappointed now.

Kindly help me please because they are charging very high interest rate and not telling me the the real calculation of foreclose account.

But they are telling me to pay Rs. 74117/- to close my account. I am planning to go in consumer court for this fraud because I am so much frustrated and disappointed kindly help me please.

Thanks and Regards
Niharika lenka.