[Resolved]  Indusind Bank — Personal Loan Closure - Unethical behavior, False assurance & Negligence

Address:

Mumbai City, Maharashtra

I had taken a personal loan from Indusind Bank in the year 2015, and in order to close the loan i had asked the bank for provide me the for closure letter in the month on 2nd Feb 2017. The Bank took 20 days to provide the fr closure letter and i had requested the customer care executives as well as the escalation team of the bank to help me close the Personal Loan before the payment of the Next EMI i.e 4 March 2017. The Foreclosure letter was sent to me on 22nd Feb and i made the Full payment of the Loan Via DD on the same day at Indusind Bank Kalyan west branch. The Bank acknowledged the payment and gave me assurance that the DD will be sent to the respective branch for the further clearance on 27th Feb 2017 i.e. Monday. After repeated inquiry and request to the bank through the customer care there was no response for the clearance status and the banks escalation team didn't show any concern nor any seriousness . In fact been thought about the SOP for the loan closure as well as how the escalation team works and what are the SOP of the bank. I had made them understand that the DD needs to cleared and the loan has to be closed before 4th March so that the EMI wont get deducted this month but there was no update on the DD received by the Bank from Kalyan west Branch. On inquiry with the Kalyan west branch the DD was sent on 1st March 2017 and due to which the DD was not cleared on time and due to which i had bare one more EMI for this month. The Escalation Team has no authority to get the work done and on request to get any update, the customer has to call and get the update from the bank as the escalation team does not call the customer. "Its your Loan so you have to call the bank", this was the response from the escalation team Member. I asked the escalation team member about the loan closure procedure and about the refund of the amount paid extra for which the escalation team had no answer. i was replied that we have to check with the personal leam back end team. I seriously doubt the credibility of the bank as the bank has charged me EMI along with the interest for this month too due to the lethargic response from their branch as well as their in capable system.

I have the acknowledgement from the kalyan branch along with the stamp as well as it has a written note saying that the DD will be sent on 27th Feb 2017.

One more thing i want to update the sales team as well as the Credit Team give false promises of providing low rate of interest to the customer, they also get the signature on the loan agreement where the ROI in not mentioned and later when the loan is disbursed they fill the ROI as they need and on complaint they use the same agreement against the customer in order to safeguard them selves.