Indusind Bank — Charging huge amounts as peanlty without any information

Address:

Thane, Maharashtra, 400601

We have taken vehicle loan from your Bank's Borivali /Kandivali Branch.The loan was disbursed in Sep2012.

Our Customer ID is CU2056870.

Since then we have been regular in repayment of the loan except for initial 2-3 months.

We have proposed to pre-close the loan account and requested your Branch to advise us the amount payable.

With continuous / repeated follow up they advised the amount after a gap of 2 months, which includes the following:

1.Interest till the normal date of re-payment i.e.up to Sep2016 (being the 48 months repayment term) Approx.Rs.18000.00

2.Late payment Charges which are Approx.Rs.2000.00.This was not informed to us in last 3years.Otherwise same would have been paid by us long ago.
Interest on the same is also being charged to us.

3.Insurance of the vehicle was taken by us. In spite our submitting the copy of policy bank has decided to recover the insurance premium of Rs.1000/per month from us. There is no satisfactory reply from the bank as to why these charges are being recovered from us. Approx.Rs.9000.00


4.There are few charges like AFC system charges, journal charges etc. which have been debited to the account without our knowledge. To the utmost surprise these charges are debited till Sep2016.No one in the branch is able to explain as why these amounts have been debited in past and for future. This amounts to Rs.5000.00.

From the above it is clear that bank has charged an amount of Approx.Rs.35000.00 without any valid reason.

Our requests to the concerned officers including Branch Manager have received ONLY DEAF EARS and forced us to approach you.