This complaint is associated with my personal loan ac. Number Nxxxxxxxxxxx3 taken from Shriram finance for sum of amount 90000. The loan formalities were initiated by Loan agent he informed me that the RI will be 19.5 % per anum and processing fee will be 2% beside all he taken 8000 as his fees . I know Shriram finance helped me with most critical crisis but they have taken advantage of my compulsion
I have paid total 14000 to get approval. I was also informed by agent and bank officials that I can foreclose it anytime after 6 months from 1st instalment but now bank officials denied to do so.
I belongs to middle-class family and as only earning member of family I I have many other responsibilities and in 20000of salary m paying 4120to shriram only .I am so frustrated that I needed money for medical emergency concerned with my mother and now its getting harder to pay such a huge interest rates. Please do something to get me out of it. Expecting a clear and conservative response.
Aaditya Kandilkar
Nagpur 440024, Maharashtra
Email: axxxxxxxxxxxx9@gmail.com
21/06/2017 / 7:59 am
3 comments
Dear sir,My husband applied personal loan from shriram finance. Today morning he got a call from company executive ,he told to send the document s on whatsap. And after sending document he send my husband a loan approval letter. He told to deposit processing fee in company accounts. After depositing processing fees his seniors called my husband and told to deposit 6,999 as insurance fees. When we refused to take insurance on loan they are giving threats of police and legal notice.
Kindly look after the same. I don’t have received any loan amount in my account till now.
@ Ashutosh
We have provided a separate link for submitting complaint. Please use the link to submit your complaint for our perusal and action.
Sorry to hear about your situation. If the loan terms you were told by the agent are different from what is mentioned in your loan agreement, you should first ask Shriram Finance for a written clarification. Keep copies of your loan documents, payment receipts, and any messages or emails from the agent.
If the issue is still not resolved, register a complaint with the company’s grievance redressal team and keep the complaint reference number. If you don’t receive a satisfactory response within the prescribed time, you can escalate the matter to the RBI Integrated Ombudsman with all supporting documents.
Also, check your loan agreement carefully to see the actual foreclosure clause, lock-in period, processing charges, and any prepayment conditions. Many borrowers rely on verbal assurances, but the signed agreement is what usually determines the applicable terms.
I hope your issue gets resolved soon. Please update the thread after you receive a response, as it may help others facing a similar problem.