| Name of Complainant | |
| Date of Complaint | June 19, 2023 |
| Name(s) of companies complained against | Aditya Birla Capital |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
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With all due respect I request you kindly help me with all these fraud activities going on in the company, the staff is HARASSING me.
In June2022, I took a loan against property from Aditya Birla Capital for personal requirements, and paid all 12 Emi on time till now.
1. Loan Details:
My name: Izhar Ul Haq Ajmali
ABFL Loan A/c No: ABND_STS000000564857
Loan Amount: 15lacs @ Interest Rate 13.5%
Tenure: 15 Years
Lock in Period: 12 Months
2. What went wrong?
# ABFL Hiding Information :- With the increasing rates of RBI, ABFL increased my Interest rate from 13.5% to 15.6% and tenure from 15 years to 33 years but did not inform me about the loan structure changes and did not even send my statement of accounts once in the whole 12 months duration. I only got emails about RBI repo rate changes from ABFL, there was no information about my loan structure changes but I believe that it must be provided since I know my loan interest rate & tenure and not of RBI repo rate. If I was informed from time to time then I would have told them to increase my emi amount and not tenure, which directly affects the principal amount of my loan after 12 months. Due to this tenure issue, the principal amount was only deducting approx 250rs out of 19800rs emi from the last 5-6 months which resulted in me paying more interest and less principal amount. Now when I want to foreclose this loan after 12 months, I am left with a much higher principal amount. If a customer wants his statement of loan then he has to email ABFL customer care and there they say in reply you are in lock in period. They don’t provide website login, mobile application login and not any other mode so customers don’t have any option apart from doing email. I believe that even if you are under lock in period, the customer has the right to get timely information. I am sure that ABFL does not want their customers to know the exact truth and regularly hide information to get benefit out of it.
## Wrong Commitment :- Now when I want to foreclose my loan then I got a call from ABFL for the first time in 12 months saying why do you want to close the loan !! When I told them this tenure issue then they said we cannot do anything about this and told me that 3 months back we started a whatsapp service to provide information. But this thing, how do I know and providing timely loan structure information should be the responsibility of ABFL or else they should provide website or mobile application login for customer self checking. Anyways they also told me that an additional 4% charge will be charged from you on foreclosure but at the time of taking loan I have been told that it will be 0% after 12months(lock in period). This shows that for selling loans, they commit anything and after that they say that we forgot what we told you. The loan was “loan against property” but now they are considering as Business Loan because it will give them 4% charges also.
### Harassed & disconnected the call :- Sales person(Rupesh) is saying that I don’t know who is Caller(Payal) and Payal is saying that I don’t know who is Rupesh. When I asked the staff calling from ABFL “which branch you are calling from?”, then she disconnected the call.
I don’t know what will happen to the principal amount but now I want to close this loan without paying any extra charges but they are not listening to me. I have been sending emails on a regular basis to close this loan.
I have all the proof of what I said here in this complaint, if you want I can provide email records, call records and I believe that you will help me on this. I was looking to send an email to the RBI but a senior bank representative told me to come to here first.
ABFL Relationship Manager: Rupesh Singh
ABFL Calling Staff : Payal Mehta
Hope you take this on a serious note.
Image Uploaded by Izhar Ul Haq Ajmali: