IndiaBulls Complaints & Reviews

My Indiabulls Personal Loan Application No. is PL07596183 and my name is Imran Khan.

Indiabulls processed my application on 25 June 2018 and gave me a deadline of 15 minutes for disbursement at 2:30 PM on the same day. Today after 2 days I have still not received anything.

After contacting them several times, they have still not done the disbursement. I have read reviews and complaints online about Indiabulls. It seems the company is Fraud and robbing people's money.

I am giving you'll time until tomorrow. If this is not done by then I'll cancel your standing order at my Bank and take all the details and recorded conversations legally. I'll make sure Indiabulls pays back ten times the damage.

This is not a threat, but if it's not done by tomorrow, I'll make sure it becomes a reality for Indiabulls. Law initiates investigation and the licence is cancelled for such Fraud company.

Anticipating your earliest action.

Dear Sir, I have applied a Balance Transfer Home Loan from IndiaBulls Housing Finance Ltd. Loan Reference No. IH18687610_09_MAY_2018.

One of the Executive Ms. Aarti (email id : aarti.[protected]@indiabulls.com) was following up for the documents. Since May 2018, I have provided the documents asked by Ms. Aarti.
Entire May & June-18 month has passed, as most of the time Ms. Aarti did not reply my phone call nor replied my emails.
After so many times of followup, she called me to sign the documents at INDIABULLS FINANCE CENTER AT LOWER Parel. All the way from Panvel I reached there, after I reach there she is saying me that she has not included co-applicant details in their software (Galaxy), she kept us waiting for 1 hour.
Then again she was asking to provide documents of co-applicant.
Last 2 months she was sleeping and didn't had the time to review pending list of documents.
Loan is not processed.

Totally unprofessional behavior. I will not suggest any one to go for INDIABULLS . Pathetic staff & pathetic behavior.

Sarabjeet singh and vishal govil of india bulls noida although they have left the company are the most fraud, they take money in different ways for the loan to be disbursed, below is my whole story of mine.

His is with reference to loan account number — hhenod00408563 by sarabjeet singh as a bt. (Bank transfer)

Loan procedure started on month of may 2017, your associate sarabjeet singh having official email id s. [protected]@indiabulls.com, came to me by offer of india bull's bt which was free of cost. I discussed with him and asked him to give 90% of loan i. E more than 25 lakh (Appx - 30 lakh) and i clearly mentioned that i will not do registry, to which he asked to transfer 4000 inr to his account for valuation of property, i did the same, i handed over the asked paper except bba, he took more than 2 months but he made no contact, whenever i contact him he used to say that loan will be done, he started proceedings and asked for 1200 inr to transfer into his account when i asked that bt was free of cost he told me it would be refunded, than he asked for cheque of 1200 inr in the name of india bulls, when i told it was free, he again told it would be refunded once loan disbursement takes place, it took more than 4 to 5 months i used to called him, text him but he merely replied, he used to say due to bba copy is not available that is why it is taking so much time.

When i asked for 1200 inr which i transferred to his account, he said that it was included in cost of legal docs.

When i finally called builder he provided bba but after receiving same he took approx more than 2 months for loan disbursement again he asked for cheque of inr 8000 in the name of india bulls then i said to him i will remain with hdfc bank as it is too costly to which he told that money will be refunded to me, but after disbursement also no money has been refunded.

He has also not done anything to provide 90%of loan for which he had taken 4000 inr.

It is frustrating me a lot and it is a mental harassment as i had already paid pre - installment to hdfc about 230000 only due to late disbursement of loan.

India bulls is highly prestigious organisation but your employees like sarabjeet singh is destroying image of your company, because of incident which has happened to me i have told to many of my friends not to take loan through india bulls as it consisting of fraud employees like sarabjeet singh which used india bulls name to cheat needy people.

If this kind of activities is known to india bulls that peoples are cheated in name of free bank transfer, than it is really very shameful.

I have taken a home loan in 2016 hhlnda00299472 and since then trapped in unethical practices followed by indiabulls. I have taken a flat through subvention plan and your representative said that the emi would start only after possession and later changed the emi start date to 10th june'18, the indiabulls team never provided me any paper related to the emi start date.
In april 2018 i get an email from indiabulls stating that the emi would be deducted and keep the funds ready, when contacted the customer care i was shocked to see that there is letter stating the emi start date which i was never aware of.
You collection team people called up and started shouting on me and used abusive language, tired of the harassment i decided to pay the emi, then i get to know that it is a preemi that will be deducted and it will not where be adjusted in the principal or the interest amount. After enough hassle you send me the schedule so that i can start paying the emi instead of preemi, there is a calculation mistake, instead of 240 months you calculated it for 258 months, when questioned the executive you try to fool us saying that the rate of interest has increased (0.10%) which resulted in increase of loan tenure, when cross questioned you admit that it's a calculation error and the branch head assures me that he will get it revised and send it to my registered email address but after 2 days also i did not receive any letter from him. Still things does stop here, they also deducted rs.6769 from my bank account with informing me, when i called your so called branch manager who is responsible for the operations is not aware of the reason behind the deduction.

Will you stop following unethical practices and fooling the people, the entire group of people working in indiabulls are fraudsters.

Is there anyone in indiabulls who is genuine and work ethically

Inorder to understand the entire web made by indiabulls and i getting trapped in it, call me on the registered phone number

It is a very big big cheating company. Pleasd be aware of this. I have applied loan on 30th march 2018. But still i didnt receive loan amount from them. Daily i called to their customer but there is no response and proper updatd from them. It is a total waste to wait. I planned to complaint. Please avoid this fraud company they wont give loan as we expected time. My humble advice try with good branded bank

Dear sir/ madam,

I am employee with outstanding floating rate loan with “indiabulls housing finance limited”. (Account no - hheban[protected]. I am reaching out to you with lot of grief and sorrow.

I sincerely request you to intervene and reverse the excess interest charged by india bulls with retrospective effect and also reduce the emis. I would like to bring to your notice that i have incurred huge losses from indiabulls due to unfair practice.

Indiabulls are passing on increased interest rate when rbi increases rates however when rbi reduces the interest rate the benefit is not passed back. This one-sided practice is defeating logic of floating rate loans.

My details -
Name – karthik kota
India bulls loan account no - hheban00087897
Mobile no – [protected]
Email id – [protected]@gmail.com

In june 2011, i took site mortgage loan from india bulls @ “indiabulls housing finance limited floating reference rate - lfrr” – 4%” and duration of loan was 240 months.

In august 2013 – indiabulls increased floating rate (Lffr) by.50%
In september 2013 – indiabulls increased floating rate (Lffr) by..50%
In january 2014 - indiabulls increased floating rate (Lffr) by.25%
In april 2018 - indiabulls increased floating rate (Lffr) by.50%
In june 2018 - indiabulls increased floating rate (Lffr) by.20%
Total increase in rate - 1.95%

It can be noticed that rates were increased in september 2013, january 2014 & june 2018 as repo rates were increased.
Between jan 2014 to june 2018 repo has reduced from 8% to 6.25% but indiabulls rates (Lffr) were unchanged. Benefit of reduced interest rate was not passed to customers.

When i took loan repo was 8% and repo as on date is 6.25%.

As of june 2018, i have been informed by india bulls that i have 354 more emis. This is after paying 84 emis. I wouldn’t regret paying more emis if the interest rate would have increased but this is not the case here.

I have approached indiabulls many time, they inform me that their base rate has not changed so they cannot reduce the rate.

Would also like to bring to your notice that they are giving better rate for new customers however they are not reducing the rates for existing customers. This clearly indicates unpleasant intention of india bulls.

Expected resolution - request your interference in correcting my emi duration and refund of excess interest paid from retrospective basis.

Sincerely looking forward for revert from rbi. Request your interference in correcting my emis from retrospective basis.

*source of repo rates – moneycontrol.com

Regards,
Karthik

I have booked apartment no e12303 in june 2013 (5years) as very old senior citizen investor. Due to changes in company plans it was not possible for me to shift to apartment in phase 1 due to higher additional cost, my growing old age & deteriorating health condition. I have applied for refund on 1st march 2018 with the assurance of getting full refund. Later on mr. Sushil patni ji threatened me to deduct 5% of project cost. May i request for your intervention so that i get fair justice. I have asked for full refund with 9% interest on my investment as phase 2 was not got approved after booking.
Please help me get early resolution without any further delay.
Thanking you,
With warm regards
Som nath sindwani

Dear sir
Before 5 days indiabulls dhani app senctionad me a amount of 50000/- so i ma accepted this offer & compleating the loan process in the app.
After that they disbursed my loan & there app says that 100% amount credited to yoir bank account.
But no any single penny comes in my acount i have called there customer support many time but they said that we are solve this issue after some time...
I am invested my saving money in my delhi tour on behalf of that company.. But the cheat me.

Dear sir/ madam,

I have taken home loan from indiabulls in 2014 and property is supertech eco village 3.
My payment plan is subvention and all interest will be paid by builder still possession and now your recovery guy is coming at my residency and my office also using abusive language and asking me to pay overdue emis.
I have also talk to supertech and they are saying some how to payment was little late but the will management to pay soon and samething also communicate to recovery guy also but they are not ready to listen.
And they are also force me to go with balance transfer of home loan to some another bank otherwise your life will become hell.

Now please let me know how to solve this problem.

Regards,

Pankaj singh
Mob: [protected]

I have recently took a personal loan from your company and facing lot if difficulties as my ecs was not presented on my account and your people are using my security checks to clear the emi which is not correct. I received a call from one of your representive to make the payment online to one of the axis bank account without any information. His details are sumit and he is saying he is the collection manager. His mobile number is [protected].

My name is seema barua and my emi amount is 5466. I havnt got my repayment schedule and the loan disbursement details also. My husband peter mitra is coordinating with this loan account and his mobile number is [protected]. My email id is seema. [protected]@gmail.com.
It is creating harrasement for me as i do have balance in my account and why my security cheques are presented as per the agreement you should take the money through ecs.

Do let me know what can be dine to rectify this error.

Thanks
Seema barua

I was sanctioned a pl loan based on application made thru app and reference was pl06941890
It was assigned to person with mobile no[protected] to collect documents - one cheque, salary slip, proof of residence & proof of identity on 06 june

But the assigned person did not collect the docuemnts stating that unless a bank statement is provided, he will not collect the same and was rude along with his manager
I had stated that since the email and sms from india bulls did not state a bank statement, the same need not be provided
However they refused to come and collect the other documents

B ganesh -[protected]

I paid the booking amount in 2010 and full base price amount in 2011. At the time of booking i was told possession would be given in 2013. I had a pre-approved loan from idbi in 2009 but in 2013 when indiabulls demanded the money of 10% as per slab, idbi refused to renew the pre-approved loan amount as they said property is under dispute with cidco, midc etc. As a result indiabulls real estate team told me to take loan from indiabulls finance at a much higher rate of interest! Today after 8 years of making the first payment, indiabulls is giving the possession of the flat in 2018! Meanwhile the indiabulls finance team has increased the interest rate thrice in these 9 years! They have not passed on the reduction in interest rate over the years!
So there is definitely a co-relation between these 2 companies to fleece cusotmers! Indiabulls greens never intimated me regarding dispute with cidco/midc - i would have asked for my booking money back!

I am stuck here not getting any response from indiabulls why you are not process my application or loan
I have called 10 to 15 times to customers executive every time i got new reasons some times they told me that it will take 7 working days now it's more than 7 days now they are saying documents not updated by field executive so contact him

When i contact the person who collected my documents he said that he already updated all the things contact customer care. When i again contact customer care then they said we will check and update you within 24hrs, after 24 hrs there was no update then i again called customer care then they we will proceeds your complain with complain number 00058818 and said wait again 48 hrs.

I don't understand why india bulls said give loan 3 mins if they can't
Personal loan (Application no. Pl00693833

I have applied for personal loan vide application no pl04256093 all formality had been completed on 16.4.2018 awaiting for disbursement. I am continually contacting on customer care daily from last month and also by email by every 4th day but till date i have not received the disbursement and no contacts from the company till date

Regards
Vijaykumar
[protected]

Hi myself sajan bajaj from jalandhar
Regarding personal loan application
I have applied persoal laon with dhani app on 18/04/2018 and approved immediately but my bank is not intheir partner list so my application convert in offline mode n i provided all reqired documents n they rquest for 10 day for the same to process. But now it's about a month n their only 2 day waiting requests many times be fooling. Now it's over.
You are kindly requested to take the action n revert

With thanks & regards
Sajan bajaj

Hi
I had applied for loan of 5l from india bulls in the month of march since then their fraud and harassing behavior has been observed
First i told them i dont want loan right now, i am just filing an application would let you know once i need and at that time sanction the amount. However they didn't listen to me and sectioned the loan (12, 923) on 31st march so that they can have first emi on 4th april. Please note that this amount got automatically deducted from my account but i raised no concern as cheque was handed over to me already.
Now in the month may i again received message from my bank that loan amount has been deducted so after a week these guys again started approaching me that due to some insufficient balance in my account they haven't received this amount and want me to pay back. I told them i have enough balance in my account and it should not be an issue then after lot of heated argument they apologized and told me it was their internal system issue due to which they didnt receive the emi. Since then they have been making 100 of calls and chasing me to my office and home. Right now at 10:30 pm they have been calling continuously asking me to pay immediately and on top of that they are asking me to late charges as well which was never my fault.
Kare koi bhare koi and i am getting harassed due to their issue.

This is to complain about mr. Durgesh meena, manager at your borivali branch. He promised me while singing the papers the interest rate will be 8.35 % if female is kept as co-applicant. Then he told me it will be 8.40% now while singing the sanction letter it is 8.45% and he is not ready to change it. Wrong message been passed to me always by him.
Strict action required on him.
It's a fraud he is doing.

I had applied for a plot loan on 23.04.2018. After that, all the requisite documents, cheque and processing fee were collected by the indiabulls representative and the plot inspection was also carried out on 09.05.2018.

After all the payment and inspection, when i got back to them, they are trying to avert my case. Firstly the agent kept ignoring my calls, when i contacted them through their customer care number they asked for 2 days.

In this way, they have already surpassed 2 weeks without any solution.

Now, i have lost 30 valuable days and a very high probability that i may lose the plot as the land lord may not wait anymore for me.

My loan application number is 943396.

As per the above subject i would like to infrom you that your executives doenot collect documents in given time from your side and even disbursment process also taking to much long time, myself is a ivl finance partner from surat gujarat, not a single case is disbursed in time and realy feels bad because everytime customer is dissatisfied with the services provided

Last friday one agent from indiabulls called me at 2:26 pm (Phone number[protected] and asked me to buy banknifty 27600 /17th may-2018 call @ 2 rs. I was not at all interested as i had previous bitter experience with their agents (40k loss on nifty call). When i was not at all interested, he said
Bank nifty 17th may[protected] call will hit 17 rs in just 20 mints and they will recover all my previous loss but when showed my disagree to buy, he dropped the call.
Again that agent called me at 2:30 pm (Phone number[protected] and literally forcefully he bought (Over phone) 4000 qty @ 2.
At 3:05 pm, that agent called me (Phone number[protected] and asked to sell at 4 rs but when i said it supposed to touch 17 right and why you are asking me to sell, he replied it won’t go more and sell it at market price.
At 3:06 pm, that agent called me from different number (Phone number[protected] and sold 4000 shares @3.76 rs and said you made 1.76 rs profit per share.
I was under impression that i made a profit but when i got the statement in the evening i could see i made - 16707.19 rs loss and i was charged 2.5 rs per share brokerage for both buying and selling. Despite making profit i end up making 16k loss just because their brokerage.
This is the second incident happed with me. Last time i made 40000 rs loss for their nifty call.
I made several complains (As per their escalation matrix) but didn't get a single reply. Grievance/escalation desk everything is fake, just to showcase. They don’t act on any case.
I asked my relationship manager to share agent name at least so that i can raise fraud complain against him but my rm denied and dropped my call and not taking any further call after that.
Indiabulls is a fraud company. They have some fraud agents who loot money like anything from brokerage. Their intention is just to take high brokerage at any cost. They can go up to any level to meet their target.