| Name of Complainant | |
| Date of Complaint | May 13, 2021 |
| Name(s) of companies complained against | SBFC (Small business finance company) |
| 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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Hello Sir/Madam,
Last year I took out a Mortgage loan from SBFC (Small business finanace Company) from Shivaji Nagar branch (Pune).
When the process was going on that time, I already informed the executive, Mr.Mahesh Jadhav (9373727278) for the purpose of this loan.
I want to settle all my dues and credit card bills against this loan so this is not the business loan , this is a Mortgage Loan.
They gave me Loan on the basis of my salary slip and Bank statement,I am a salaried person.
Now I am trying to get a loan from another bank so I request to send forth a closing letter for my Loan account. They gave me a forth closing letter but they charged 5% on the total amount.
when i took the loan from SBFC at that time they never explained to me about the percentage of forth closing charges.Instead of this just they telling me sign off the mentioned document we will take care of the rest of the things and that is my big mistake we simply trust the executive who attended that time.
Here one thing I notice you , I have seen one loan account number having 0% foreclosure charges
But in my case they charged 5 %, I don’t know about this.
And as per the RBI notification banks are not permitted to charge foreclosure charges to individuals borrowers.
Here I am attaching RBI Notification for your reference.And one more thing , one mail attaching for your reference , when my loan process was going on that time they told me to send mail from your official email-id.In that mail also they mentioned LAP means Loan against property.
Actually they put my loan as business in the system.but how come they put it my loan as business loan.
I don’t understand because they sanctioned this loans on the basis of my salary and bank statement.
so please help me to resolve this issue asap.
When the lons process was going on that time Mr.mayur Mutha (Manager of mahesh Jadhav) told me to just reply to my mail for processing your loan application.
In that mail also nothing is mentioned this is a business loan like that, just mentioned LAP means Loan against property.Thats all !!!
And one more point i am here to show you that , i signed the document on that page , that page itself nothing mentioned this is business loan means no tick mark on business loan.Here i attached some images of the document which is more cleared for you when you check this.
Product – Secured Business loan/ME/SME/MSME/LAP (No tick mark on Business Loan)
When i received these copies then I came to know they just stapled one additional paper on that agreement which is showing this is a business loan .nothing else.
so they just confuse you and all people from SBFC they just lie from the day one..
so please check the document thoroughly and please help me to resolve my issue.
I am staying at a Pune location so I can’t travel in Mumbai because of Covid situation.
If any person with your office is in a pune location please call me or mention the address so i can contact him with a full document
Loan No – PR00712090
Customer No – AP00266143
Image Uploaded by Amit Ashok Bhagat: