Hi All,
I am Vaneet Roach,this is with reference to A/c # 035825000012850,whereunder I took a loan from your shimla office( Fullerton India private ltd).Mr Rajesh Negi(sales officer) helped me in getting a loan.I took a loan of 30000 and after insurance I ended up getting appox. 27000.I was told that I would have to make EMI of 1558 each for 2.5 years.Later I got confirmation from your customer care that the loan is for 3 years. I thought being a customer I would have to bear lt.
Today I visited your branch to know about my outstanding balance and it came as a shock to me that I still owe you around 19000 (including 1750 as bounce changes).As per my knowledge there were no cheque bounces.When I inquired about it with a person of your branch( supposedly a manager) he told me that as I did not make payment by cheque they charged me for it.On the other hand I had already told your sales officer that I am running out of cheques and being working in Gurgaon it would not be able to furnish the cheques instead I would make payment by cheques and the sales officer agreed to it as well ( I used to deposit cheques in his accounts).If it was otherwise he should have tomd forewarned me against it, but he did not.
I have made 22 installments of 1558 each,and I have not defaulted on any installments, In total I have paid appox 34000 and they aks me to pay 19000 additional amount and it comes around 53000.
It means for 30000 I would have to pay 53000 and it comes out around 80% or more ( simple or compound interest whatever it is).As against the promised 16% it it baffling 80%.it seems as if they are bleeding us.
Please help me with it.

Thanks
Vaneet Roach
roachvaneet@yahoo.co.in