Cholamanalam DBS Finance Limited
EMI Date is too early losing Interest

Dear Concerened,

I had taken a personal loan of Rs. 5, 00, 000/- from this company. I got a cheque dated 18th Jan on 21st Jan. which i deposited on 22nd Jan. But to my surprise the first EMI date is 5th Feb. The meaning of EMI is always a monthly Instalment. If the loan is used only for 14 day and i would have to pay EMI. This way i am loosing a interest of more than Rs. 3000/-. The company is making money out of this transaction on my cost. The EMI must be fixed from 5th March only.

I talked to customer care of this company, but they say "Sorry", if loan is given before 20 of the month then EMI is on 5th of next month.

Please help to save my interest.

Thanks & Regards

Harcharan Singh Shangari - Cell No. 09910318555

Loan Ref No. XPRDEL000000222240