INDIA BULLS FINANCIAL LTD
LOAN AGAINST PROPERTY

Dear sirs,

I took loan agaist property from india bulls. My loan agreement no is HLAPMAL00086642.I received welcome letter dated 26/05 /11 only on 04/06.Total LOAN AMOUNT IS 4450000/- Period of repayment is 120 months. However the following amount has been deducted

1. rs 100, 000/- for insurance cover

2. rs 96667/- towards processing fee.

We have following complaints

The insurance issued by i, c, i c, i lombarts covers only 60 months.where as the loan tenure is 120 months.

How does the policy covers the risk. In case of unfortunate death of the insured who wii bear the ressponsibility of payment of balance outstanding. The details of policy coverage and the company with which the policy was brought was not confirmed with me earlier

The processing fee charged is very very high. No one had explained and no where in the agreement this is mentioned. I am not a signatory in agreement to this hidden charges.

Right from day one we have been comlaining to IBFL consumer help line.and we have sent hard copies

of all our comlaints to griviance cell of ibfl. Their response isvery poor and their only reply is they have explained to me at the time of the agreement

KINDLY TAKE UP MY COMLAINT WITH THE CONCERNED AND HELP ME GET JUSTICE

N.R.SREEKANTA

Company: INDIA BULLS FINANCIAL LTD
Country: India
State: Karnataka

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