[Resolved] Home Credit India Finance — personal loan of 56000

[Resolved] Home Credit India Finance — personal loan of 56000

R Rajatguic from Kanpur, Uttar Pradesh

I take a personal loan from home credit my loan pass on call by phone when i take then there service providers says that i close my loan after 6 emi easily and do not pay extra i have to pay only 6 month interest @of2.98 per month now when i want to close they said that i have to pay more i take this lone only for six months bcz according to calculation i have to pay 44772.8 on loan amount of 56000 but the says that i have to pay 53000 or 52000 which is too more because after debited file charge thay give me 54000 only and after paying of 21240 in 6 emi calculations are when i take loan your employees emfomed me that i have to pay emi of six month with interest @2.98 per month according to this 6 month total amount that i paid 3540*6=21240 In which i subtracted interest amount on my loan is 10012.8 [protected].8=11227.2 11227.2 must be subtracted from my loan amount which is[protected].2=44772.8 rs this amount only i bounded to pay according to information that given by your company during passing my loan My loan no. Is [protected] Was this information helpful? No (0) Yes (0)
Jun 12, 2019 Complaint marked as Resolved Home Credit India Finance customer support has been notified about the posted complaint. Verified Support May 10, 2019 Home Credit India Finance Customer Care's response Dear Rajat, Thank you for contacting Home Credit. We regret the inconvenience caused. We wish to inform you that as per the General Terms and Conditions of the Loan and the Terms and Conditions mentioned in your Loan Summary, the interest amount has been calculated basis the annualized flat rate of interest. The apportionment of the interest amount over the period of the loan is done on a reducing balance method so that the interest charged on a monthly basis is consistent with the principal outstanding at the end of each month. We assure you that the total amount of interest received from the customer basis the flat rate of interest mentioned in the loan summary remains the same. There are no foreclosure charges, however, depending on the date of foreclosure, the interest for the number of days in the month till foreclosure happens is calculated in a pro-rated manner. Please note all the terms and conditions of the loan are mentioned in the Loan summary and the General Terms and Conditions. Further, your contract is having the delinquent amount of Rs.7, 430/- which is pending from last 31 days. Hence, we would request you to kindly make the payment at the earliest to avoid collection activities. We appreciate your patience and understanding with this. For any further help, please contact us on our email id:[protected]@homecredit.co.in. Regards, Customer Care Team Home Credit India Finance Private Limited \| Email – [protected]@homecredit.co.in Access your loan information anytime, anywhere. Download our App: http://bit.ly/2snRXRO May 11, 2019 Updated by Rajatguic Your employees give these details that I have to pay six emi after that I closed my loan and only 6 month interest need to pay @ of 2.98 per month I read also loan summary there is no provision such that i have to pay 44772.8 on loan amount of 56000 but the says that i have to pay 53000 or 52000 which is too more because after debited file charge thay give me 54000 only and after paying of 21240 in 6 emi calculations are when i take loan your employees emfomed me that i have to pay emi of six month with interest @2.98 per month according to this 6 month total amount that i paid 3540*6=21240 I have to close my loan send me loan amount which was right as per policy because I informed your employees at the time of taking loan that I want to close this loan after 6 month and they give me these details Verified Support May 12, 2019 Home Credit India Finance Customer Care's response Dear Rajat, Thank you for contacting Home Credit. We regret the inconvenience caused. We wish to reiterate you that as per the General Terms and Conditions of the Loan and the Terms and Conditions mentioned in your Loan Summary, the interest amount has been calculated basis the annualized flat rate of interest. The apportionment of the interest amount over the period of the loan is done on a reducing balance method so that the interest charged on a monthly basis is consistent with the principal outstanding at the end of each month. We assure you that the total amount of interest received from the customer basis the flat rate of interest mentioned in the loan summary remains the same. There are no foreclosure charges, however, depending on the date of foreclosure, the interest for the number of days in the month till foreclosure happens is calculated in a pro-rated manner. 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. Please note all the terms and conditions of the loan are mentioned in the Loan summary and the General Terms and Conditions. We appreciate your patience and understanding with this. For any further help, please contact us on our email id:[protected]@homecredit.co.in. Regards, Customer Care Team Home Credit India Finance Private Limited \| Email – [protected]@homecredit.co.in
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