GE Money
Harassment in the name of Insurance with Loan
- 07-22-2007
- 23
I have taken loan against my property from GE Money Mahim Branch, Mumbai in July-07. I wish to share 2 instances.
1. Rate of Interest
My loan was sanctioned @ 13 % p.a. rate of interest. I signed the sanction letter accordingly. Subsequently, I came to know that they are charging interest @ 13.50%. I was never intimated, nor did they take my signature. May be they have forged my sign.
2. Insurance payment
One month after applying loan, I was told that it is sanctioned, but on the condition that I take insurance with Bajaj Allianz Life Insurance Co. with annual premium of Rs. 50, 000 compulsorily. I was told by Mr. Ravi from Mahim Branch that if I don't take it, my file will be returned to me. It was like blackmailing when applicant is in need. Subsequently, I came to know that it was not compulsory. Hence I denied that. Now, they are harrassing me by calling everyday & sending some person to my house in my absence. I am fad up with such harassment.
Beware of GE Money. Think twice before you apply.
Company: GE Money
Country: India