IndiaBulls — worst company - home interest loan calculation wrong (screenshot attached)

Address:560048
Website:loans.indiabulls.com

Hi
This is Suresh and i took the loan from Richmond circle, Bangalore.

IndiaBulls is worst company, No proper stringent process to address consumer issues and Interest Calculation also wrong.

1. Interest Calculation wrong (Attached screenshot)
2. Every 3 months increase the ROI
3. I am paying emi 2015 onwards and my loan principal is not decreased.
4. I sent a mail to cancel my Home insurance (But they are not cancelled

Note: My sincere advise is go for loan to Nationalized banks only, If not go for private banks (HDFC, ICICI, Axis). Please do not go this kind of financial institutions and they loot your money.
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IndiaBulls customer support has been notified about the posted complaint.
Jan 07, 2019
Updated by sunny menon
Some information missed here:
I took the loan for 30 years initially, now it is showing 41 years. See the last installment date is showing incorrect.
How they are calculating the interest is surprise for me. They are not transparent enough to show the ROI and Principle amount outstanding.
Complaint comments 

Comments

Dear Suresh,

Apologies for the inconvenience caused to you. Kindly share your contact details or loan account number so that we can proceed further with your concern.
Dear Suresh,

We haven’t heard back from you. Kindly share your contact details or loan account number so that we can proceed further with your concern.
Biggest Fraud and Cheater Company. Government have to take some actions against Indiabulls Group.

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%. I visited the Indiabulls branch more than 20 times and i call to customer care many times but they didn't give a any reply and solution.

Indiabulls is the fraud and cheater company. 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.
IndiaBulls Customer Care's response, Jan 28, 2019
Verified Support
Dear Customer (kanpak),

We understand your disappointment. We have re-escalated your concern to our team. Request your understanding in this regard.
Since last 2 months i only get this single reply and your team reply with same answer. If you really understand my disappointment, then reduce my rate of interest. I don't know, Why are you kidding with customer's emotions ? I think indiabulls is not a company, it's a biggest scam.
IndiaBulls Customer Care's response, Jan 29, 2019
Verified Support
Dear Customer (kanpak),

We do understand that just expressing words would not help. However, we would like to assure you that we are working continuously to ensure that your issue will be resolved soon.
IndiaBulls Customer Care's response, Feb 2, 2019
Verified Support
Dear Customer (kanpak),

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.
Your team is just get in touch with me nothing more than that. Since last 2 months they only get in touch with me but not doing anything else. Still my problem not solve. They giving same reply as before. If you have a no solution than why you get in touch with me ? Now i clearly understood that INDIABULLS IS 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.

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