Personal Loan from Prime Financial
Dear Sir/Madam,
This is with reference to my personal loan with Prime Financial whose loan a/c no. is 1000098370L , where i have taken a loan of Rs.33000/- and it was agreed at an reducing balance rate instead of which Prime Financial had charged interest on Flat rate, after 8 to 9 months later I realize that the interest was charge on flat rate instead of reducing rate. I approached the bank and written number of correspondence but the bank did not gave us an satisfactory reply after which I have stopped paying the emi after which they approached us and had settle the account . I had no financial problem , the only problem with them was the flat rate of interest which they had charged .i had paid an settlement amount of Rs.7000/- for which when I asked them for the statement it does not shows the same along with I had paid four to five installment in cash is also not shown plus they have shown me status in the records of CBIL as overdue. The first mistake is my that I had trusted them and they have taken the full advantage of that by charging interest on flat rate even though I have given them number of proposal to them but they are not keen in closing the matter .
I request you kindly look into the matter and please guide me the procedure for the same. I can also come personally to complete the procedure for I request you to guide me where and to whom should I come and meet .I hope you will definitely look into my matter so that I can come out of this. Please find below all the correspondence made with prime financial which would be helpful .
Regards
Gaurang Gandhi
9920668318.
PLEASE FIND BELOW THE CORRESPONDACE MADE WITH PRIME FINANCIAL
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Subject: PF/MAR/S054/10-11:OTHERS:1000098370L
Date: Thu, 31 Mar 2011 11:28:16 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
Thank you for writing into us.
As requested by you please find the statment of your loan account.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage in future
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
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From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Tuesday, March 29, 2011 8:52 PM
To: Customer Care
Subject: RE: PF/MAR/S050/10-11:OTHERS:1000098370L
you are a cheater people it does not mean that what ever amount you demand i have to pay because when it was agreed to charge interest on reducing balance rate instead of flat rate you have charged. Now i will not hesitate to approach to take legal action and print and electric media. for you money is important and not your prestige, my steps will also affect your existing loan. All the expenses that I would incur to take legal action would be bearer entirely by you.
Please send me my statement of account from the being.
Regards
Gaurang
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Subject: PF/MAR/S050/10-11:OTHERS:1000098370L
Date: Tue, 29 Mar 2011 15:44:45 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
Thank you for writing into us.
We regret to inform you that we donot have any facility to reprice or restructure a already disbursed loan.
Moresoever your loan is already settled with us. So as informed in our earlier communication, we would request you to make the payment for the overdue amount incase you wish to get your CIBIL records updated.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage in future
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
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From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Saturday, March 26, 2011 12:09 PM
To: Customer Care
Subject: RE: PF/MAR/S032/10-11:OTHERS:1000098370L
This is with continuation of my email where i would like to give you an proposal, from the date of the loan taken till the last payment which i made for that particular period calculate the interest at 24% p.a. on reducing balance rate instead of 33% p.a. which you have charged calculate the total amount on the above calculation and deduct the total amount paid by me as emi if there is any amount payable by me as emi if there is any amount payable by me i will pay the amount in cash in two installment, at the time of first installment i will required the letter addressing to CBIL for showing my account as normal instead of overdue and the next installment will be paid within a period of one month ,this will justify that i am son of businessman and not a cheater man. I request you to seriously go through my above proposal failing which to save my prestige i will not hesitate to take any legal action against you and will also approach the Electric and Print Media along with all the correspondence done with you and all the expenses that would incur to me will be entirely bear by you. what ever step i am taking is with the guidance of an General Manager of an nationlise bank. I am not threating you but to avoid the above circumstance please accept my above proposal.
Regards
Gaurang
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Subject: PF/MAR/S032/10-11:OTHERS:1000098370L
Date: Thu, 17 Mar 2011 15:27:27 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
Thank you for writing into us.
With regards to your query regarding the status of your loan in CIBIL, we wish to inform you that the delinquecy string in the cibil report will show your payment history with us.Also since your's was a settlement case, the amount will reflect as overdue in CIBIL since you had settled the loan for a lesser amount than your actual balance outstanding with us.
So incase you wish to update your CIBIL records, you will have to make the payment for the overdue amount and then the same will get updated with CIBIL.
We also further wish to inform you that the tenure of your loan with us was 36 months with an EMI of Rs 1758 and not 48 months as mentioned by you in your mail communication.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage in future
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
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From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Tuesday, March 15, 2011 8:19 PM
To: Customer Care
Subject: RE: PF/MAR/S022/10-11:OTHERS:1000098370L
Please revert within 72 hours from the time i have send you the email.Please provide me with full details along with the records of CBIL .My name should me remove as overdue , will wait till tommorrow evening if there is no reply from your side all the letter will be forwarded to the electric media by Thursday Morning.
Regards
Gaurang
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Subject: PF/MAR/S022/10-11:OTHERS:1000098370L
Date: Tue, 15 Mar 2011 15:54:52 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
Thank you for writing into us.
This is to inform you that we will get back to you with the required details at the earliest.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage in future
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
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From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Sunday, March 13, 2011 10:55 AM
To: Customer Care
Subject: PF/SEPT/S329/10-11:OTHERS:1000098370L
What are you justify?
This is with reference to the loan of Rs.33000/- form you and also i had taken loan form two other banks whose details are as under:
Loan Amt. EMI Months Total Amount
Prime Financial Rs.33000/- Rs.1785/- 48 Rs.85680/-
Barclays Rs.193800/- Rs.6212/- 48 Rs.298176/-
Axis Bank Rs.120000/- Rs.3879/- 48 Rs.186192/-
Interest : As per mathematical calculation interest amount should not be more than principal amount
you have given a loan of Rs.33000/- and the problem was created due to cheating done with me where it was agrred to charged interest on reducing rate and was actually charged on flat basis due to which i have stopped paying your emi. if i was an cheater man than the above two emi would also had problem ,still today all emi goes on time which you can also inquiry my records with CBIL.
You have said that the a/c is settled but in the records of cbil its show overdue of Rs.33000/- once again request you please remove the status in the records of CBIL from overdue otherwise i may not hesitate to take any legal action and also approrach the electric media.
i am fully a son of businessman you are an cheater company because many of our office are closed i request you to please revert on letter within 72 hours otherwise i will file two cases against you, one for cheating and second of my prestige and all the expenses that i will incur will be bear my you ,if you do not want such circumstance to happen please remove the status in cbil from overdue and normalise my a/c.
Regards
Gaurang
CC:NDTV.STAR NEWS,AAJ TAK,Indian Consumer complaint forum.
CC: Advocate Jaishree Takker:PLease take legal step if no positive reply from Prime Financial .
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Subject: PF/SEPT/S329/10-11:OTHERS:1000098370L
Date: Mon, 13 Sep 2010 10:36:05 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
Thank you for writing into us.
This is to inform you that as you have settled the loan your name cannot be removed from CIBIL.
Also please find attached the mail sent to you on 06th March 2010.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
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From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Friday, September 10, 2010 12:01 PM
To: Customer Care
Subject: RE: PF/SEPT/S276/10-11:OTHERS:1000098370L
As per the records in cbil dated:12-06-2010 SNo.226037 the same shows as written off with overdue amount of Rs.33608.Please revert on the same & as per your email that you have written me an email on 6th March 2010 for which i have not received any email & request you to please send me copy of the email.
Regards
Gaurang
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Subject: PF/SEPT/S276/10-11:OTHERS:1000098370L
Date: Thu, 9 Sep 2010 10:43:39 +0530
From: Customer.Care@primefinancial.co.in
To: gmgandhi@hotmail.com
Dear Mr.Gandhi,
As per our previous mail dated March 06, 2010 we have already informed you that the delinquency string in CIBIL will show the days past due (DPD) based on your payment history with us.
However you account will show as settled in the CIBIL records.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
--------------------------------------------------------------------------------
From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Sunday, September 05, 2010 11:03 AM
To: Customer Care
Subject: Loan A/c No. 1000098370L
To
The Chairman/Managing Director,
Prime Financial.
Mumbai
Date:5th Sep. 2010
Dear Sir/Madam,
Regarding: Will you remove my name from CBIL? just as Hsbc.
This is with reference to the loan a/c no.1000098370L. I have gone for the loan to sign on an working day and as per my feeling that Bank will never cheats their customers ,on that basis keeping full faith in the bank I had signed the agreement without looking into it and after the loan was given keeping the faith in the bank I did not look the documents.
IT IS FULLY MY MISTAKE THAT I TRUSTED ON YOU.,WHEN YOUR AGENT CAME TO ME AT THAT TIME I CLEARLY TOLD THAT I AM INTERESTED IN TAKING LOAN ON REDUCING RATE AND I AM AGAINST TAKING LOAN AT FLAT RATE. THE TRUST WHICH I HAVE KEPT ON YOU FOR WHICH YOU TAKEN THE BENEFIT AND FULLY CHEATED WITH ME BY CHARGING INTEREST ON FLAT RATE.
I had no problem with you except the interest that you have charged & only for that reason I had returned the emi on an advise of an top executive of an psu bank. For your information I have taken personal loan after that whose details is as under.
Amount
1)Rs.75,000/- Cleared
2) Rs.1,20,000/- 50% Cleared
3) Rs.1,93,000/- 50% Cleared
If I had any financial problem the emi of above loan would also be affected ,but still today the emi amount goes as per schedule and if you want proof of the same I can provide you.Please do not take the matter easily, treat it as an serious matter, otherwise i may not hesitate to approach the court upto Supreme Court because you have fully cheated me and if i have to approach the court that all the expenses that i have incurred will be entirely bear by you and for justification the matter will also taken to Print & Electric Media, to avoid the circumstance please remove my name from CBIL and provide me the proof like HSBC Bank has removed my name for which i am sending below the letter recieved Form the bank and that is enough to proof that who has cheated?.
Please look into the matter on prior urgently basis and reply on the same with action taken within 10 days otherwise i will not hesitate to approach the court for justification.I am fully an son of business man and not son of cheater man and if you want to try than you can try,the amount of loan given and calculate interest at 18% on reducing rate and deduct the amount which i had paid net will come to recievable or payable to me,if any amount comes to payable by me with the above calculation i will pay it immediately without any delay along with the calculation as mentioned above along with the letter to CBIL to remove my name.I request you to please save my prestige otherwise your prestige will be affected when i will approach court & media, you are free to call between 9 am to 4 pm on weekday on 9920668318.
Awaiting for your reply.
Regards
Gaurang
CC: CBIL.
CC: Indian consumer complaint Forum.
CC: Advocate Jayshree Thakker
127, sarang street, Near Craford Market,Mumbai-3-Please taken action after 10 days if my mane is not removed form CBIL.As per your instruction i have witten the letter
PLEASE FIND BELOW THE LETTER FROM HSBC.
Dear Mr. Gandhi,
Re - Your Personal Loan Account 004 xxxxxx 542
Reference Number 2008562691
We refer to your recent interaction with the Bank regarding the above mentioned Personal Loan Account.
With reference to your concern on the interest rate, we confirm that you had availed a personal loan of INR 39000/- with a flat interest rate of 29.9% per annum for the period of 48 months and the monthly installment for the same was INR 1785/-. The interest was charged on your account as per the loan agreement, which was processed based on your signed application.
Further, as per the settlement offered by the Bank, we had received the payment towards the loan dues and INR 3399/- was also refunded through cashier’s order pay to your mailing address.
However, we have arranged to update the records of the above mentioned loan account in the Credit Information Bureau India Limited (CIBIL) as “Settled” and the same will reflect in seven working days.
Mr. Gandhi, we trust that the measures taken in this regard have been transparent and the explanations given have helped you clarify your concerns.
Assuring you of our best services always,
Yours sincerely,
Setal Jani
Manager - Customer Service
The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
--Forwarded Message Attachment--
From: Customer Care
Sent: Saturday, March 06, 2010 11:19 AM
To: gaurang gandhi
Subject: PF/MAR/F015/09-10:OTHERS:1000098370L
Dear Mr Gandhi,
Thank you for writing into us.
This is to inform you that the delinquency string in cibil will show the days past due (DPD) based on your payment history with us.
However you account will show as settled in the CIBIL records.
Do write to us for any further clarification. We would be glad to assist you!
Assuring you of our commitment to quality customer service at all times.
Thanking you and soliciting your patronage.
Regards,
Customer Service Team
Prime Financial
Division of Standard Chartered Investments and Loans( India ) Limited
Go Green
PSave A Tree! Please do not print this email/attachments unless you really need to
--------------------------------------------------------------------------------
From: gaurang gandhi [mailto:gmgandhi@hotmail.com]
Sent: Thursday, March 04, 2010 9:19 PM
To: Customer Care
Subject: Loan A/c No. 1000098370L
To,
The Chairman/Manging Director
Prime Financial
MUMBAI
Dear Sir/Madam,
I have done full & final payment of my loan 1000098370L .There is no due in my a/c.Hence cancel my name from cibil within seven days & oblige otherwise i will take legal action against you at your cost & risk.
This letter comes from my side without my personal prejudice to any one
Thanking you
Gaurang Gandhi
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The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments contained in it.
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