| Name of Complainant | |
| Date of Complaint | August 25, 2023 |
| Name(s) of companies complained against | Stashfin (Akara Captial) |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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I applied for a credit line with Stashfin, seeking a loan of ₹95,000 to meet some urgent financial needs. I went into this arrangement with the belief that I would be treated fairly and transparently, as any responsible lender should. However, the events that have unfolded since then have been far from fair or transparent.
To date, I have made payments totaling ₹1,35,000 – an amount that exceeds the original loan principal by a significant margin. Despite this, Stashfin is now demanding an additional ₹40,000. This demand not only defies logic but also plunges into the realm of usury, where exorbitant interest rates and hidden charges are employed to exploit vulnerable consumers.
My experience with Stashfin has exposed several alarming issues:
Hidden Terms and Conditions: Stashfin deliberately obfuscates critical terms and conditions, leaving borrowers in the dark about the full extent of their financial commitment. This lack of transparency is not just unfair; it is a breach of trust that preys on those who are in need.
Unjust Interest Rates: The interest rates applied by Stashfin are beyond reasonable comprehension. They have taken advantage of my situation to the point where I am essentially paying double the original loan amount. This practice is morally reprehensible and should have no place in a fair lending environment.
Harassment and Intimidation: Stashfin’s pursuit of an additional ₹40,000 has not been backed by any credible explanation. Instead, they have resorted to harassment and intimidation tactics, causing me immense mental and emotional distress. This is a clear violation of ethical conduct.
I implore all of you to be cautious and vigilant when dealing with institutions like Stashfin. As consumers, we deserve ethical treatment and transparency from lenders. It is my sincere hope that by sharing my experience, others can be informed and protected from falling into a similar trap.
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