I C.Visalakshi aged 57 years had availed a Home loan of Rs.30, 60, 000/- from Citi Financial Consumer Fiance India Ltd., Madurai branch through two LOAN a/c's No. 6162037 for Rs. 21, 91, 000/- and a/c no. 6147566 for Rs. 8, 69, 000/- respectively on 5/9 @ 11% floating rate of interest.
On 5/11 the company had literally forced and harassed me to issue additional cheques for the increased EMI saying that the rate of intrest has been increased from 11% to 12.65%.
Because of this increase in interest rate my tenure was increased from 240 months to 300 months.
Though the company increased my interest ratewhen there was a increase in the industrial rate of interest they did not decrease the interest rate when the market rates reduced.
Due to this increase in interest rate even after paying my EMI promtly without even a single cheque return for the past 5 years that is from 5/9 till 5/4 today on getting a statement of accounts my outsanding is still Rs.30, 22, 503/- as same as the amount borrowed Rs 30, 60, 000/-.
As I have ended up paying only intrest for the past 5 years and since my prinicpal repayment is almost nothing I have deceided to pre-close loan because other wise I will not be able to repay my loan in my life time.
As the company has not done anything for me I would like to request the company to atleast wave my pre-closure charges so that it would be releaf for a senior citizen like me who wanted to create an asset for my children.
I have approched the Madurai branch but there is positive reply.
With Regards
C.Visalakshi
98427-92232
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