[Resolved] Home Credit India Finance — Without intimation increased loan tenure | |
As mentioned have availed personal loan of 90000 & EMI of 4035 am paying regularly. Opted for Moratorium for 4 months. Now suddenly they have increased tenure from 48 months to 70 months i will be ending paying 282000 for 90000. How could they do this & also interest is too high for 4035 EMI - Principal is 700 & rest is Interest. Kindly help, Was this information helpful? | |
Oct 31, 2021 Complaint marked as Resolved Home Credit India Finance customer support has been notified about the posted complaint. Verified Support Sep 30, 2021 Home Credit India Finance Customer Care's response Dear Srikanth, Thank you for highlighting your concern. With reference to your concern, we would request you to please share your Contract ID, contact number or registered email ID as we are unable to check the details as of now. Thank you, Team Home Credit | |
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+91 90 0469 0046
3rd Floor, Tower C, DLF Infinity Towers, DLF Cyber City, Phase- II, Gurgaon, Haryana, India - 122002
With reference to your email regarding the increased number of EMIs for contract number [protected].
As checked from our records you have availed Moratorium for 4 months (May to August 2020) due to which the EMI tenure has been increased in your installment schedule.
The Moratorium period’s interest amount has been added to the outstanding principal amount and then your EMIs are re-calculated as per your loan interest rate.
Basis the revised principal amount and to ensure there is no increase in your EMI amount, the total EMI count has increased.
As moratorium is not a waiver but deferment of your EMI payment, it accrues interest. Hence, the applicable interest amount is charged for the Moratorium period and is payable in the subsequent installments.
We regret to inform you that we will be unable to waive off the interest charged for the Moratorium period.
Do any one charge 180000 for 4 months of moratorium & extra 2 years of tenure.
Kindly help these people are cheating & looting us in this bad situation. Please help once again request.