Complaint Details

Status	:	Closed
Complaint No	:	0039944/2015
Category	:	Others
Date	:	24-02-2015
Subject Line	:	27% interest rate charged on personal loan
Complainant	:	Harminder Singh
Address	:	F-228, Ground Floor
Complainee	:	Fullerton India Credit Co. Ltd
Address	:	41-43,Huda Market, Shrimati Santhosh Yadav Marg, LIG Colony, Sector 31, Gurgaon, Haryana 122001

Complaint Details
Dear Ma'am/Sir,

I had got personal loan approval of Rs. 2,00,000/- Rate of Interest of
18% (as per Fullerton India Credit Co. Ltd executive Mr.
Rohi-7053578539) and got credited 1,97,677/- on dated December 22,
2014 on my OBC account number 00852041002945 and Rs. 7000/- deducted
from same account on same date by Cheque No.143191 of OBC Bank which i
gave at the time of blank document singed from that till date haven't
received any written communication regarding my EMI, Rate of Interest
and Loan tenure. The loan account number 011525200030620 i have got
form insurance policy of ICICI Lombard secure mind, which premium is
of Rs.3600/- received on January 12, 2015

On January 31, 2015 i had got a call form Fullerton India Credit Co.
Ltd that my EMI is Rs.7200/- and Rate of Interest is 27%, than i
called on your Toll Free number 1800 103 6001 and your call center
executive Mr. Ajay he transferred call to Mr. Bharat and he registered
complaint number is 01416384 and told me that it will be sort out with
in 48hrs and got a call form Fullerton India Credit Co. Ltd.

February 03, 2015 i again called your Toll Free number 1800 103 6001
and your Call center Executive Ms. deepika told my that you will get
call from our side by evening.

On 04, February 2015 EMI of Rs. 7200/- is deducted from my OBC account
number 00852041002945. I am very much disappointed about Fullerton
India Credit Co. Ltd services and commitments.

when i write a mail to them than then following reply i had got form them:-




---------- Forwarded message ----------
From: CCRC
Date: Wed, Feb 11, 2015 at 8:50 AM
Subject: Re : Fullerton India Credit Co. Ltd.- 011525200030620 (Case
ID:01416964)
To: "har.singh01@gmail.com"
Cc: "ccrc@fullertonindia.com"


Dear Mr. Singh,



This is with reference to your complaint dated January 31, 2015
pertaining to your loan account.



We understand that the interest rate and the various charges
applicable including processing fees, foreclosure charges and other
applicable charges were explained to you at the time of applying for
the loan. The interest rate and the charges are mentioned in the Loan
agreement dated 16th December, 2014 which has been duly accepted and
agreed upon by you at the time of execution of the loan.

We have attached Welcome letter for your reference.We wish to inform
you that once the loan is executed, we will not be able to make any
changes to the applicable rate of interest.



Should you have any further queries pertaining to your loan account,
please do not hesitate to get in touch with us at
ccrc@fullertonindia.com.



Thanking You



Customer Service Manager

Customer Complaint Redressal Cell (CCRC)

Fullerton India Credit Co. Ltd.





---------- Forwarded message ----------
From: Harminder Singh
Date: Wed, Feb 11, 2015 at 10:25 AM
Subject: Re: Re : Fullerton India Credit Co. Ltd.- 011525200030620
(Case ID:01416964)
To: ccrc@fullertonindia.com, escalation@fullertonindia.com


Dear Ma'am/Sir,

i haven't been inform about various charges as mentions by you and
rate of interest is conveyed to me @18%. till date i haven't received
any document from your side, on January 31, 2015 i got call from your
side that that EMI is Rs 7200/- and it will be deducted on February
04, 2015.

This loan agreement i had singed blank by Mr. Dalbeer (+917042323882)

if i know the rate of interest would be @27% i won't take loan from you.


-
Harminder Singh
+91-9811181376




---------- Forwarded message ----------
From: Escalation
Date: Fri, Feb 13, 2015 at 7:39 PM
Subject: RE: Fullerton India Credit Co. Ltd.- 011525200030620 (Case ID:01416964)
To: "har.singh01@gmail.com"
Cc: Escalation


Dear Mr. Singh,



This is with reference to your email dated February 11, 2015
pertaining to your loan bearing account number 011525200030620.



We wish to inform you that we cannot make any changes to the terms and
conditions applicable on your loan once the agreement is executed.
Further, we wish to inform you that cancellation of a loan is possible
only within 15 days of disbursement of the loan. Considering that you
have exceeded these 15 days, we are willing to cancel your loan as a
service gesture.



We request you to visit the nearest branch within 7 days for
cancellation of your loan. Should we receive your request after
completion of 7 days, foreclosure charges as per the schedule of
charges will be applicable on your loan account.







From the office of

The Grievance Redressal Officer







Contact Center: (040) 4455 6000 or 1800 103 6001

Customer Service Email: escalations@fullertonindia.com

Website www.fullertonindia.com

Fullerton India Credit Co. Ltd.
Floor 6, B Wing, Supreme IT Park,

Supreme City,

Powai, Mumbai 400 076.




---------- Forwarded message ----------
From: Harminder Singh
Date: Sat, Feb 14, 2015 at 2:30 PM
Subject: Re: FW: Fullerton India Credit Co. Ltd.- 011525200030620
(Case ID:01416964)
To: Escalation


Dear Sir,

I had received Rs. 1,97,677/- only on dated December 22, 2014 on my
OBC account number 00852041002945 and Rs. 7000/- deducted from same
account on same date by Cheque No.143191 of OBC Bank which i gave at
the time of blank document singed

i will pay only Rs. 1,97,677.00 - Rs. 7000= Rs.1,90,677.00

kindly confirm the same.


---------- Forwarded message ----------
From: Escalation
Date: Wed, Feb 18, 2015 at 8:29 PM
Subject: RE: FW: Fullerton India Credit Co. Ltd.- 011525200030620
(Case ID:01416964)
To: "har.singh01@gmail.com"
Cc: Escalation


Dear Mr. Singh,



This is in continuation to your below email dated February 14, 2015.



As per our telephonic conversation dated February 18, 2015, we would
like to inform you that we are coordinating with the Insurance team in
regards to cancellation of the Insurance policy. We will revert to you
with details within 3 working days i.e. February 23, 2015.



We request your co-operation and patience in the interim.





From the office of

The Grievance Redressal Officer







Contact Center: (040) 4455 6000 or 1800 103 6001

Customer Service Email: escalations@fullertonindia.com

Website www.fullertonindia.com

Fullerton India Credit Co. Ltd.
Floor 6, B Wing, Supreme IT Park,

Supreme City,

Powai, Mumbai 400 076.

_________________________

Right now i don't have amount and why should i pay Rs 210000/- for
loan cancellation. kindly sort out my problem as early as possible.

Thanks,
-
Harminder Singh
+91-9811181376

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