I was issued 3 seperate loans 3500, 3000 and 3500, And was credited only 6000 with tenure of 7 days, which means I have to repay 10000+ interest within 7 days when I only received 6000.

Name of Complainant Sivabalan N
Date of ComplaintAugust 27, 2022
Name(s) of companies complained against
Category of complaint Cyber Crime
Permanent link of complaint Right click to copy link
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Text of Complaint by Sivabalan N:

I was issued 3 seperate loans 3500, 3000 and 3500, And was credited only 6000 with tenure of 7 days, which means I have to repay 10000+ interest within 7 days when I only received 6000. It was advertised as I would get a loan of 20000 for tenure of 30 days with interest rate of 0.025% per day. There was no mention of processing fees anywhere and I even explain this same matter to multiple emails and text to company’s customer support, but there was no response. even if they charge high processing fees they could have issues 1 loan of 10000 and charged fees on single loan but they issued 3 to make money, this unfair trade practices and does not comply with RBI guidelines. I am willing to bear 0.025% interest rate on disbursed amount and close this loan. They have my contacts and personal details which they fetched from my phone before issuing loans and might use this to blackmail or harass my friends and family. Please tell me how to deal with this matter.

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