[Resolved] Home Credit India Finance — instrate

[email protected]

from Jind, Haryana

Address:

d-3 Ganesh nagar pandav nagar, 110092

Dear sir,

I, shyam kumar having customer id: [protected], request you to let me know the interest rate charged on my loan having emi rs. 3, 432 & principal amount rs. 72, 000 & tenure 42 months. As i have seen the acknowledgment, interest rate charged on my loan was 28.63 % p. A. Compounding monthly.

As i saw the repayment schedule sent by you, interest charged on loan 45% p. A compounding monthly which is inconsistent with the rate mentioned in the acknowledgement i. E 28.63% p. A compounding monthly.

And please find the attached file in which i have shown both the scenarios or you can yourself calculate through emi calculator attached.

So please don't try to do such manipulations with me and try to re-issue me the updated repayment schedule as per the rate of interest 28.63% p. A asap.
I am really looking forward to your reply in this regard asap.

For any communication in this regard, please contact me on mob no. [protected]

Regards
Shyam kumar

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Nov 21, 2019

Complaint marked as Resolved

Home Credit India Finance customer support has been notified about the posted complaint.

Verified Support

Oct 21, 2019

Home Credit India Finance Customer Care's response Dear Shyam,

This is with regards to your query with Home Credit under reference number 02235726.

In reply to your query, I am pleased to inform you that your query has been resolved successfully as per the telephonic discussion which we had today.

We wish to inform you that the interest amount has been calculated using the flat rate of interest for the entire loan period.

The interest amount shall be appropriated to loan account on the basis of the monthly reducing balance of the loan amount.

In order to foreclose your loan, please refer below terms and conditions.
• Minimum 06 installments to be paid to foreclose the loan under this option.
• As per the loan summary letter terms & condition you need to make payment of the amount communicated by our customer care team.
• Nil foreclosure penalty charges will be applicable on the outstanding principal amount as per the loan summary letter terms & condition.
• To raise a request for Early Repayment customer have to call us before 5 days from last due date.
• Once the request is raised and activated with us customer is advised to make the payment within 48 hours to avail the benefit of Early Repayment option, which is as per the terms & condition of loan summary letter.

Meanwhile, we are closing this concern. For any further help, please feel free to contact us.

For quick access to your account information, please use our mobile application from Play Store here.

Regards,
Customer Support Team