My Grievance Case experienced on 31st March–
I am shyam dawande, has following details –
• Institution Name – IDBI Home Finance Ltd, apte road branch, Pune
• Loan account Number –WESPUN00008392
• Outstanding principal taken for levying charges as on 31st March– 27, 63, 942/- (excluding Prepayment 205000 i.e. 2558942)
• Exorbitant Charges Levied – 4376/- (2% on 2, 05, 000 prepayment 276 bouncing charges) Over and above, even 60973/- (2 % foreclosure charges taxes)
• Disclosure of the terms and conditions in the signed agreement – No any
Explanation –
The officer and Branch Manager, reacted irresponsibility about giving the clarity of the clause for which they were charging the extra amount to me.
I am holding an account with the above mentioned institution, since April. I had given a prepayment cheque of 2, 05, 000/- to the bank dated 11/03. When I went to the branch for the foreclosure of my loan on 31st March.
Mr. xxxxx told – on 31st March.
• You cannot be able to pay 2 cheques in a one month i.e. prepayment and Final foreclosure cheques. Hence I will be able to accept your cheque only after 1st April.
• Hence you need to pay an EMI for the April Month too i.e. 27358 EMI 2% of outstanding principal tax.
• The clause was not mentioned in my Signed agreement.
• He was not able to give this in writing. And advised to contact, Branch Manager
Mr .xxxxxxx told – on 31st March
• Please come on first week of April, Now I am busy, all the necessary clarification and letter in writing will be given by me.
• Please don’t harass us now.
• When I was asking for a clarification again, and the written clause in agreement, why this was charged, he told wait for 10 mins outside.
xxxxxxxxx advised –
• You don’t have to pay entire EMI but, the amount paid by you as a prepayment – 205000/-, you need to pay 2% foreclosure charges (4100) bouncing charges (276).
• Give me a letter, to consider this as a special case and mention in that, it was advised to you, that you cannot do a prepayment and preclosure charges in one Month. Though it was not ADVISED by xxxxx.
• When I asked for the justification for 2% on 205000, he told. I am saving your ENTIRE EMI, this is a small amount, you need to pay. You need to minimum this amount. Else come on April Month and pay entire Amount EMI Foreclosure charges tax.
Issues –
• Why I was charged 2% on already, prepayment done 2, 05, 000 even it was not mentioned in the agreement?
• In private banks, while making a final foreclosure, I am supposed to pay interest diff applicable foreclosure charges mentioned according to the signed agreement only.
• Why Even I was charged 2 % foreclosure charges on a principal outstanding even?
• Why my concerns were not taken into consideration?
• Why I was told to write a letter even it was not told to me
• Why I was misguided to pay for an EMI of April?
• Why I was told to come in Next Month?
• Why the bank didn’t give clause confirmation in writing?
Monetary loss –
• I paid this amount to the bank i.e. foreclosure charges of 60973 276 4100 on an outstanding principal of 2558942/- as on 31 st March.
• I paid for foreclosure charges charges on prepayment bouncing charges tax.
• Officer and branch manager didn’t guide me properly under the “ fair practice code” of the IDBI.
• There was no any such clause mentioned against the money demanded from me.
Assistance needed –
• Refund of my excessively paid amount i.e. 2 % on prepayment bouncing charges
• Refund of excessively charged 2% on the Total Principal outstanding.
• Scrutiny against clarity of the agreement clause AGAINST Money demanded.
• Being in the financial service industry, I was told to write a falsifying letter even I was not told for the same.
• Irresponsible nature of the xxxxxxx
• Strict action against Mr.xxxxx and Mr. xxxxxxx
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