[Resolved]  Home Credit India Finance — wrong calculation of principal repayment amount

Address:208007

Dear Sir/Ma'am,
I would like to bring you a kind notice that i have taken a personal loan from home credit in effect from 08.02.2018 and as its 6monthly Emi's are paid so now i want to repay it but the amount told by customer service representative is way higher than the amount that must be paid.
They have told me to pay:Rs.96, 151
I have paid 6emi's of Rs.5598
Yearly interest is:33.85%
and as per half yearly calculation:16% approx is paid
So via simple calculation it can be calculated that I have paid Rs.2820 per month with each Emi as interest and the rest being my principal amount.
So after above calculation it can be calculated that the amount that has to be repaid is Rs.83, 332
so why the system is showing that the principal that needs to be paid is Rs.96, 151 and if this was the case so why it was not informed at the time of loan approval.
So its my humble request to you to look into my issue and resolve it as soon as possible
Contract Number:[protected]
Name: Raghav Manglik
Father's Name: Rajeev Manglik
D.O.B:16.02.1997
Registered Mobile Number:[protected]
Was this information helpful?
No (0)
Yes (0)
Sep 22, 2018
Complaint marked as Resolved 
Home Credit India Finance customer support has been notified about the posted complaint.
Verified Support
Aug 22, 2018
Home Credit India Finance Customer Care's response
Dear Raghav,

Thank you for contacting Home Credit.

We regret for the inconvenience caused to you.
In reply to your query, we wish to inform you that as per the loan summary letter terms & condition below mention points should be fulfilled to foreclose the loan under Early Repayment option:

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 on[protected].
Nil foreclosure penalty charges will be applicable on the outstanding principal amount as per the loan summary letter terms & condition.
Additionally, we wish to inform that in order to foreclose the loan, you need to call our customer care toll free number within 15 days of your EMI due date without any delinquent amount on the loan account and activate the foreclose request with them. The foreclose amount will be shared to you over the call and you need to pay that amount with next 48 hours of service activation to foreclose your account with us.

Regards,
Customer Care Team
Home Credit India Finance Private Limited | Call –[protected]; Email – [protected]@homecredit.co.in | Business Hours – Monday to Sunday, 9 AM to 8 PM

Access your loan information anytime, anywhere. Download our App: http://bit.ly/2snRXRO
Complaint comments 

Comments

My 2 lone completed but homecridet finance ltd not provide noc (no objections caritificat) to me.
Plz provide noc few days..
Home Credit India Finance Customer Care's response, Sep 3, 2018
Verified Support
Dear Customer,

Thank you for contacting Home Credit.

Kindly share your Loan number (Ten digit number, starts with 3) OR registered mobile number so that we can assist you with your concern. You can refer to your loan documents i.e. Loan Summary / Repayment Guidelines.

For any further help, please contact us.

Regards,

Customer Care Team
Home Credit India Finance Private Limited | Call – 1800 121 6660; Email – [email protected] | Business Hours – Monday to Sunday, 9 AM to 8 PM
I Have purchased Lyf wind 2 LS 6001 Mobile through Home Credit Invoice No.6159. But After that I have paid all amount.

Please check my details and send me No Dues Certificate

Regards
Kamble Chandrapal
Mob [protected]

Home Credit India Finance Customer Care's response, Sep 6, 2018
Verified Support
Dear Customer,

Thank you for contacting Home Credit.

Kindly share your correct Loan number (Ten digit number, starts with 3) OR registered mobile number so that we can assist you with your concern. You can refer to your loan documents i.e. Loan Summary / Repayment Guidelines.

Request you to please revert within three days, otherwise your request would be closed.

For any further help, please contact us.

Regards,

Customer Care Team
Home Credit India Finance Private Limited | Call – 1800 121 6660; Email – [email protected] | Business Hours – Monday to Sunday, 9 AM to 8 PM

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    By clicking Submit you agree to our Terms of Use
    Submit
    Home Credit India Finance
    customer care contact
    Customer satisfaction rating Customer satisfaction rating is a complex algorithm that helps our users determine how good a company is at responding and resolving complaints by granting from 1 to 5 stars for each complaint and then ultimately combining them all for an overall score.
    Read more
    85%
    Complaints
    1103
    Pending
    45
    Resolved
    920
    Home Credit India Finance Phone
    +91 90 0469 0046
    Home Credit India Finance Address
    3rd Floor, Tower C, DLF Infinity Towers, DLF Cyber City, Phase- II, Gurgaon, Haryana, India - 122002
    View all Home Credit India Finance contact information