EMI - Personal Loan
Procedures that put in trouble

I have taken Personnal loan for Rs.150000/- on 07-oct and paing EMI for Rs.4024/-.

I have made preclose request on 24-may and it was confirmed by your official around mid of June and told they will be sending Foreclosure letter druing 1st week of July.

I waited for the letter and again called your bank on 18-july, they told me that it letter has been sent and returned. They told they are resending the same. But till 20th I have not recieved and again when i called back I was told the same reason and asked to go to your collection center and pay the amount. I am doing the same today.

But my complaint is that,

1. When I am ready with the money on 24-may, Why you are taking till 25- july to process and making me to pay the interest for this period.

2. When I am very much available in the address and eagerly waiting for the letter, How it is returned 2 times.

3. They told 20th is the last date for payement and I am making it on time. why should I pay another EMI for the month of August and wait for your refund.

4. So far I have paid

9 EMI fior Rs.4024 - 36, 216.00

Paid at Foreclosure - 1, 34, 192.04

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1, 70, 408.04

Loan Amount credited - 1, 47, 520.50

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Total amount paid as interest and other charges - 22, 887.54 for 9 months (including 2 months period taken by citi bank for processing the foreclosure procedures).

Is it Justified?

5. Also I have confirmed information from one of my friend working in Bank that ther is no Return charges for ECS return by either bank. You have charged me Rs.280.61 aginst 1 ECS return. Kindly confirm with proof.

I regret to inform you that I am very much upset with the citi bank service / Procedures which puts customers like me in trouble.

Expecting your honourable reply.

Regards

R.P

Company: EMI - Personal Loan
Country: India

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