IndiaBulls — indiabulls not able to amend their system/clerical mistake

Address:122001

Dear sir/mam,
With reference to my home loan account hhlban00363990. I transferred my home loan of rs 22 lakh from iihfl to indiabulls home loan on 29 jan 2016. But in indiabulls it's showing as plot loan instead of flat/home loan (Even after submitting all original documents to their richmond circle, bangalore branch) because one of their employee mr vishnu pandey who had done some clerical/system mistake while processing my home loan transfer application. Even in 2016 also, the same thing was happened & at that time when i visited to their richmond circle bangalore branch, branch manager mr sachin told me it was clerical mistake while filling form but now everything is ok.
On 01 nov 2018, indiabulls raised my emi from 8.4% to 11.1%. When i asked about this huge changes of roi, they told me its happened because i have taken plot loan. So again i sent copy of all the concerned documents to their email id [protected]@indiabulls.com & [protected]@indiabulls.com.
On 29 dec 2018, i got a call & mail from harshita sodha regarding the correction of plot to flat but for change of roi, she told me to submit the switch form to nearest branch (Screenshot attached). On 03 jan 2019 i submitted the switch form to their bareilly branch officer mr praveen agarwal. But after that i didn't get any respond from their department even after putting so many request through mail & phone call.
On 15 feb 2019, i got a mail from indiabulls where it's showing my roi as 11.9% from 11.1% (Screenshot attached) which is quite shocking as i am doing all those paper action since dec 2018 for reducing my roi as per home loan category from 11.1% to 9.3% whereas indiabulls change it in opposite direction.
Once all (Harshita sodha, senior supervisor mr siaraam & others too after seeing all those attached documents) are able to understand that it was clerical error and they amend it too from plot to flat (Home loan) then what's their problem for reducing the roi as per home loan category? Why indiabulls is creating so much problems to me who submitted all of his emi's in times? Further two of my friends are paying roi 9.3% for the same project, same builder & in the same area (Screenshot attached)
Plz interfere in this matter immediately & do needful asap as indiabulls is not ready to help me out.

Regards
Sunil bhandari
[protected]
[protected]
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IndiaBulls customer support has been notified about the posted complaint.
Feb 16, 2019
Updated by subhan2010
On 03 Jan 19, I submitted attached switch form in their Bareilly branch as told by Indiabulls customers care executive Ms Harshita Sodha.

Feb 21, 2019
Updated by subhan2010
On 20 Feb 18, I got this reply from Indiabull grievances cell.

Dear Customer,

Greetings from Indiabulls!

We value your relationship with Indiabulls Housing Finance Limited (IBHFL). It has always been our endeavor to provide you with best of services and products most suited to cater to your various needs.

This is with reference to your query IHF-233266-Y3P0Q3.

Please note that your home loan is converted into flat from plot. However, you had availed a home loan facility vide LAN No. HHLBAN00363990, which was booked under floating rate of Interest and the same was mentioned in the Loan Agreement duly executed by you. A floating rate of interest is based on Indiabulls Marginal Lending Rate (IMLR), subsequently influencing the rate of interest / EMI / tenure accordingly with the change of market rates, regulatory rate etc. Hence, rate changes are made strictly as per agreed terms and conditions of the loan agreement be extended to all the customers. As per our policy and fair practices being followed by the company, all customers are intimated time to time in the event of change in the ROI.

Also, the IMLR is fixed by the ALCO committee from time to time taking into considerations primarily the cost of funds, cost of operations adding with various risk components and minimum expected return on equity. However, end application of IMLR varies from client/class of clients to clients on the basis of risk assessment of the client for loan, quantity of loans. Also, market conditions & liquidity position is taken into consideration before offering final rate on +/- on the IMLR.

In the light of the circumstances explained above, it is further explained that the rate of interest charged on the loan amount is floating and linked to IMLR, the change in IMLR subsequently influences the rate of interest accordingly as per the terms and condition of the loan agreement, duly executed and signed by the you on your own free will and without any undue influence and coercion from any part.

For any further clarification in this regard or in any other ; please feel free to call us on our toll free help line[protected] from Monday to Saturday between 9 am to 6 pm. Kindly keep your Loan Account Number handy in order to help our call centre agent serve you better. Alternatively, you can log on to our website www.indiabullshomeloans.com, download our mobile app (SMS “APP” to 56677 and get the Download link of our App!) or visit your nearest branch.

This letter is without prejudice to the provision of the loan documents.

Thank you for choosing us and assuring you of our best services at all times.

Regards,
Grievance Cell
Indiabulls Housing Finance Ltd

Feb 21, 2019
Updated by subhan2010
Dear Sir/Mam,
With reference to your mail. First of all thankyou so much for giving me such a valuable knowledge & that also free of cost as usual as always.
Firstly, Please refer your mail dated 14 Dec 2018(screenshot attached), where you mentioned same such type of things only but after sending full details & documents I got a call (even I can share voice recording) & mail on 29 Dec 2018 (screenshots attached) from Indiabulls executive Ms Harshita Sodha. She told me as it was system error so to submit the attached switch form to the nearest Indiabulls branch for further amendment of ROI & which I already submitted on 03 Jan 19. Later on, several times I spoke to yours senior supervisor Mr Sreeram who also confirmed that change of ROI is under progress & it will take atleast 15 days more. Now can you please tell me why indiabulls done all these formalities & wasted my this much time if you don't want to do anything regarding my complaints?
As per your mail, Indiabulls is already amended their system error from plot to flat loan then why don't you amended yours ROI? Why don't you charge the same ROI from me which you take from other customers even all of my 13 friends are also paying 9.3% (screenshot was already sent to you in all of my previous mail) for the same project.
It's really shocking to see that right now in India, Indiabulls is the only financial institution who take such a higher rate (i.e. 11.9%) of ROI for home loan in the name of floating rates.
Last but not the least plz stop writing "We value your relationship with Indiabulls Housing Finance Limited (IBHFL). It has always been our endeavor to provide you with best of services and products most suited to cater to your various needs" as you guys are here just for creating problems & panic instead of helping. Nowadays I think grievance cell hired some lawyer in their department who know very well how to teach kanoon instead of accepting Indiabulls mistake & taking necessary action for resolving it soon.
Please do needful as soon as possible & change my ROI immediately from 11.9% to 9.3% as like other customers. In case of any doubt or query it's better to call me in below mentioned number instead of mail.


Regards
Sunil bhandari
[protected]
[protected]
Feb 21, 2019
Updated by subhan2010
Even after doing repeatively request on mail then also their escalating never ever called me in my mobile number. While calling to their customers care number, they are also unable to do anything as they don't have any data to tell anything other than which is available in their system escalated by their escalating team.
Even in their apps also, it's showing ROI as NA% since Jan 2019.

Mar 04, 2019
Updated by subhan2010
Can you please tell me how many more days /months /years actually r you looking for resolving my issue. As till now you are not able to resolved it even after 4 months of putting my initial complaint on Nov 2018. Because of Indiabulls this type of worst behaviour, I am not able to concentrate my work properly in this tense condition of indo pak relation. How to serve our country properly once these type of services we are getting in our country only, where these type of worst company are ready to suck our lives and no one is ready to listen armed Forces genuine poblems too but everyone want safety security & peace in their social life's.
Mar 05, 2019
Updated by subhan2010
biggest fraud company i ever seen in my life...
Mar 24, 2019
Updated by subhan2010
Dear Consumer Complaints,
With reference to my registered complaint dated 16 Feb 2019 against Indiabulls in yours platform. Can you please tell me whats the next step to be taken against this biggest fraud company as they are not ready to help even after accepting their clerical/system mistake. Even after completion of 4 months since 01 Nov 2018, they are only wasting my time on phone and mail instead of giving any resolution.
Enough is enough now, I just want to take action against this fraud company as still i am facing mental & financial harassment.
Plz do needful.
Complaint comments 

Comments

Dear Sunil,

Apologies for the inconvenience caused to you. We have escalated your concern to our team and will get in touch with you soon.
PLEASE BEWARE... INDIABULLS IS A BIGGEST SCAM...

INDIABULLS is the fraud and cheater company. I think it's not a company but it'a BIGGEST SCAM. Government have to take action against IndiaBulls. Never take any type of loan from indiabulls and also prevent the peoples who are taking loans from Indiabulls and share your bad experience of Indiabulls with them. So they can take loans from other banks.

I started my commercial property loan in indiabulls before 15 months with the 10.35% rate of interest. Than they started to increasing roi every 2 to 3 months and now my roi is 13.50%. When i visited the branch many times and i call to customer care many times but they didn't give a proper reply and solution.

PLEASE BEWARE... INDIABULLS IS A BIGGEST SCAM...
Dear Sunil,

Our team is still working on your concern and will get in touch with you soon.
Dear Sunil,

We understand that our team got in touch with you and shared all the requisite information. Feel free to get in touch with us in case further assistance is required.
subhan2010's [Complaint's author] reply, Mar 5, 2019
Dear Indiabulls,
No one contacted me till now regarding the same. So its better to resolve my issue instead of giving fake information here. On 22 Feb 2019, you send this message here

Dear Sunil,
Our team is still working on your concern and will get in touch with you soon.

Now i got this response whereas till now no one contacted me so its better if you contact me immediately in my phone without any further delay.
Dear Sunil,

Apologies for the inconvenience. We have re-escalated your concern to our team and will get in touch with you at the earliest.
subhan2010's [Complaint's author] reply, Mar 6, 2019
Till now i am not able to understand why don't representative of yours concerned department call me directly in my mobile number instead of giving wrong information here or through email.
i called so many times to yours customer care number 18002007777 & indiabulls executives are always able to understood wats the actual problem and that's why they always raised a new complaint immediately but i don't understand wats the issue with yours concerned departments executives who never ever called me in my number even after requesting so many times for call back.
Even i spoke so many times to yours senior supervisor Mr Sairaam & he know my issue very well since starting and that's why he also raised so many complaint for the same including call back request but still your so called horrible concerned department executives never ever bothers to call me back.
Once indiabulls already accepted their system error & amended it too from Plot to Home Loan and after that told me to submit the switch form to Bareilly branch for change of ROI( i have all our previous mail as well as voice recording for the same and if you want then i can send them to you also) then why the hell now indiabulls don't change my ROI as per home loan instead of PLOT Loan? Why don't you take the same ROI from me as you taken from my other 12 colleagues.
Dear Sunil,

We would like to inform you that the best possible resolution has already been shared with you. We would request your understanding of the same and please keep maintaining your trust in us.
subhan2010's [Complaint's author] reply, Mar 24, 2019
Dear Indiabulls,
Can you please tell me how would you take 11.9 % ROI from me for the same apartment in which you take 9.3% ROI from my 13 others friends? Can you please explain on which basis you can do such type of discrimination along with me?
Its me who referred my other 13 friends with indiabulls & now i am the only sufferer like this way. Instead of getting rewards for introducing my other friends, i got this type of mental, financial harassment.
Still i am not able to understand, Once you accepted your system/clerical mistake & which you amended too from your end then why the hell you are not ready to reduce ROI from 11.9 to 9.3 percent as you charge from others and for which i already submitted my switch form on 03 Jan 2019 as guided by yours customer care executive through phone & mail.
Please do needful as soon as possible instead of wasting my time & money. Its better if the concerned department call me directly in my cell phone instead of sending same copy paste mail.

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