Computer
Higher Interest Rate Charged

Dear Team,

My Name is Rajan. During last year end, I had purchased Computer worth Rs 19000 and availed EMI option from Sriram Chits. I paid 4 months EMI i.e. Rs.5200 as Downpayment. The rest of Rs. 13800 is converted into 14 months EMI. On checking total EMI Paid, it comes to 14*1300 = 18200. The total interest Paid was Rs. 4400 which comes to 27.33% Yearly Interest rate. I think this interest rate is not as per financial Institution norms. It was my mistake for not reading the documents at the earlier state. However, can you prove the interest rate charged by you is as per the Financial Instituation Norms. My Loan account number is ***00009126 (dont have the complete account number).

If not, I will inform all my known person not to take any loan from Sriram Chits Funds..

I request you to call to my mobile no 9884284033 or to my e-mail Id rajan_adt@rediffmail.com.

Company: Computer
Country: India
State: Tamil Nadu
City: Kanchipuram

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