| Address: Jammu, Jammu and Kashmir, 180002 |
| Website: www.consumercomplaints.in |
Availed a Gold Loan form Muthooth Finance, Talab Tillo, Jammu branch in the month of Nav'2016 and while applying for the loan, I was informed that the rate of interest will be charged @ 14% and I have to pay the interest monthly ie: before 15th of every month. Right from that date i was paying the interest on time each month and that too before the due date (as communicated by the branch) but every time i was charged extra interest and when I started inquiring I was shocked to find that the actual Interest on the loan was 18% and than after 3 months 24% and than after another 3 months 26%.
This was never communicated while availing the loan and when i started inquiring they started showing loan documents to me which were signed by me, but were never filled in front of me.
This is totally unethical and Fraud and being a senior citizen I paid the total amount and closed the loan, but the kind of miscommunication and fraud done by the branch is totally unacceptable and would take this up to the highest level for solution. Even when i told the staff that i'm going to close the loan and paid the total amount, they were dragging the matter, kept on pushing and tried to postpone by asking me to come after 1-2 daye to get my Gold back.
If, I don't get a satisfactory response for the Mothoot Group, i'm going to take this up to the consumer forum and Social Media.
Thanks and Regards,
V.k. Tandon
[protected]
