To,
The Correspondence Unit,
CitiFinancial,
2, LSC, Pushp Vihar,
New Delhi – 110062
Subject: Regarding the settlement of Personal Loan Acc. No.13237230
With the utter regret I am drafting this letter to you. I understand that your bank is one of the reputed banks in the world, but for Indians like me, it is a very pathetic bank with poor services. I applied for the loan on 04th September from your Malad West branch. Within five days I was informed that my personal loan of Rs.50, 000/- has been sanctioned and one Mrs. Khusbhoo, an executive called me for briefing. There I was informed that this loan is covered with insurance and the premium will be deducted directly from the loan amount. Since, that time I was in the utter need of money I decided to go with it. While calculating the interest rate the executive made a lot of mistake and told me that it will be less, and since our system is in up gradation so we will let you know the interest rate. However, I questioned what will be the EMI, she told me that it will be between 22%. The executive also told me that you need not to worry the EMI will be less. For the next three months I was not in the city, but I kept a regular contact with the bank. However to my shock within some period I realized that the EMI is much higher than what was committed. I felt that it may be some technical error so I contacted the malad branch again and I was informed that from the next month the EMI will be less and you need not to worry. I regularly contacted with the Malad branch for the same but it was useless.
My plea for the same was not at all entertained from your side. At last, I called your executive and demanded for an outstanding balance document and I verified it with my Charted Accountant and he also told me that the EMI is much higher. I informed you bank that I don’t have any other option than to stop the EMI unless my query is solved. But to my distress, within a day I received at least 35 to 40 calls on my landline as well as on my cell phone from different collection agencies and when I told this situation to them they but these agents only believe in threaten and use massive power. I contacted your helpline but it was also useless.
After some days I was informed that the executive named Mrs. Khusbhoo has left the job. I stopped the EMI for the reason of the interest rate and not for any other purpose. Your collection agents knocked any time without following the rules and regulations. I was first approached by one of the agency from Lower Parel this guy assured me that he will rebook the loan without giving any details. He started constantly calling me from this number 02240831515 and if I failed to receive it he was using a lot of harsh language. He cheated me and took six cheques from me which still has not returned. I also had a recorded conversation of the same person. I warned this guy that if he call me again than I will launch an police complaint, but he said that he doesn’t bother about any police or anyone.
This was not enough that I was approached by another agent Mr. Sachin, he also approached me with a lot of harsh language without listening to my query. He was calling at least 50 to 60 calls per day which was not only a mental harassment but his person was sending his collection people in night at 9.30 to 10.00 clock. It was a height when I received an SMS from him on 24th February at 01:15:27 pm that he will come in the night for collecting the dues. I understand that this is there duty but the bank must employ people who must know the proper way of dealing with the customers. Now I have been approached by one collection agency from borivli and the person name is Mr. Rane, this guy is also has adopted the same technique of sending any one at any time. Now its my kind request is there that I am fed up with your services and I want to settle this loan.
It’s a very worst experience from your side. I approached a lot of time but it was vein.
I am enclosing the excel sheet of my loan account with it
Thanking you
Mr. Udayraj L.Gamare
Loan Acc. 13237230
Enclosure: Loan statement by Charted Accountant
SMS received
Voice Recording by one of your agent
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