| Name of Complainant | |
| Date of Complaint | July 28, 2023 |
| Name(s) of companies complained against | KAILASH AUTO FINANCE LTD / AI KREDIT |
| Category of complaint | Cyber Crime |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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On this money lending app called “AI Kredit – Peraonal credit loan” hosted by Kailash Auto Finance Limited, they are scamming people with illegal loan intrest rates of upto 40%, with a time limit of 7 days.
Although online they say that their intrest rates are betwee 10-24% with a loan period of 91 days, that is not true when you download the app.
In the app you are locked to a maximum loan duration of 7 days. And for a loan of – 5000 rupees. You receive only 3010 rupees and are expected to pay 1990 within the next seven days.
So basically for a loan of 3000 rupees you pay a intrest of around 70% 2000 rupees.
Sir I applied for rs 10000 loan through kailash auto finance amount of 3010 per 3 loan was given for 7 days, and on 6th day of loan I have recceived many calls and whatssapp Messages for payment of loan amount. Which can be paid full or part payment . If what full payment you should paid 5000 and want rollover for next 7 days paid only 2100 .
Sir all executives are talking like gunde mafia “ abhi payment karwa varna teri photo edit karke aur teri gandi vidoe bana kar tere sabhi janne walo to bhej dunga “ etc. I have paid 2100 for two loans and 5000 for another one loan.
But next day same process repeated by executive calling on behalf of “AI KREDIT” run by “Kailash Auto Finance Ltd “
An absolutely illegal and fraudulent business runned by “Kailash Auto Finance Limited”.
Preying and scamming the innocent out of their hard earned money. Plz take hard action for this type of fraud company which is pressurized for person last limit of sucide.
Kailash Auto Finance Limited was also banned from Finance Market and also from stock market for market manipulation.
