[Resolved] Home Credit India Finance — Fraud of chor company home credit india | |||||
, I have taken a personal loan from "Home Credit India" on Sep 2016. They have provided me with a personal loan of 1.25 Lac rupees (Rs.122, 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 30.54% per annum (2.54% every month). I took this loan for 36 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 they I do have my documents which was already with them because I was the existing customer too. I agreed to pay Rs. 6653/- on every Month and the loan sanction to me for 36 months (Duration) but I was told that I can foreclose it after 6 months. After when I contacted them on the 7 Month (April 2017) 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. 119000/-, after that I was like what ? Till that time I have paid them nearly 39000/ but still they were asking me to pay 119000/- 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 and I have left my job on Nov 2016 and if I do not repay them, their customer executive says that they would take legal actions if not pay their EMI. Kindly help me please because they are charging very high interest rate and not telling me the the real calculation of foreclose amount. According to my calculation take a look below:- Home Credit Loan No. - [protected]. Loan amount - Rs. 1, 25, 000/- (Sep 2016) Received only Rs.122, 000/- (Rs. 2500/- documentation fee) Rate of Interest - 30.54% Duration - 3 years (36 Months) EMI per month - Rs. 6653/- Paid 6 EMI's till 9th April 2017. Rs.6653 x 6 EMI (Paid) = Rs. 39918/- Loan amount Rs. 1, 25, 000 – Rs. 39918 = Rs. 85082/- Remaining balance. But they are telling me to pay Rs. 119000/- 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 Sukhbir Singh [protected] (New Delhi) Was this information helpful? | |||||
May 11, 2017 Complaint marked as Resolved Home Credit India Finance customer support has been notified about the posted complaint. Verified Support Apr 10, 2017 Home Credit India Finance Customer Care's response Dear Sir, Thank you for your query to Home Credit India. In reply to your query, we wish to inform you that we have forwarded your query to the relevant team and we shall provide you with an update within the next 48 hours. We sincerely hope that the above resolution is to your satisfaction. Alternatively, Please do not hesitate to contact our customer service team phone:[protected], or email:[protected]@homecredit.co.in should you need any further clarification. Yours sincerely, Customer Care Team Home Credit India Finance Private Limited . | |||||
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Hi nityavashishta Please ask Home credit why they are asking me to pay 1.19 Lac .as per your calculation I need to pay -107307, , , , Please comment only if you are concerned for company or with that company.
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By chance i came on this post
Loan amount - Rs. 1, 25, 000/- (Sep 2016) Received only Rs.122, 000/- (Rs. 2500/- documentation fee)
Rate of Interest - 30.54%
Duration - 3 years (36 Months)
EMI per month - Rs. 6653/-
Paid 6 EMI's till 9th April 2017.
Rs.6653 x 6 EMI (Paid) = Rs. 39918/-
Loan amount Rs. 1, 25, 000 – Rs. 39918 = Rs. 85082/- Remaining balance.
1 They asked for documentation fees you said adust from loan amount (else it should have been paid by you cash)
So you recieved 1, 25, 000 first statement is wrong .
Next you have not calculated interest .
1, 25, 000
interest 30.4% annum (not monthly or montly you said 2.54 %) each months interest is 3175
at the time of foreclose interest is 22225
so total to be paid 1, 25, 000+ 22225=147, 225
You have paid 39918
so now left 147,[protected]=107307
Which is simple calculation and I am sure there should hve some more beause it should be calculated annualy and then calculated .
Look like you are not honest and just don;t want to pay their interest just calculating the primary amount,