| Address: | Muthoot Finance Ltd, Vignannagar |
I had taken loan amount of Rs 50000 from Muthoot on 7th October 2019 and i have been paying an amount of Rs 1000 every month since then. As i am located in UAE, i am unable to go for renewal but i do send an authorization letter from my side before the renewal but their approval takes months together where my interest is going up and whatever i had paid till then goes waste. Now yesterday my loan has been renewed, as of 15th June 2022, i am still supposed to pay Rs 50556.
So that means whatever i have paid till not has just gone into interest and nothing to the principal amount? if i pay Rs 50556, a total of almost 1 lakh to Muthoot for a mere loan amount of Rs 50000. Please note as per my statement, the total amount i have paid is Rs 45940.
Requesting the honorable government to help me with this and close this issue with lesser amount. I am ready to pay certain amount of money to close this loan amoun but a huge amount which is more than my loan amount is very difficult for me to pay.
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