| Name of Complainant | |
| Date of Complaint | October 24, 2023 |
| Name(s) of companies complained against | Navi |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
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A loan was availed from NAVI on 25/05/2023 of INR 5,10,000 (including an initial loan of INR 3,00,000 + top-up of INR 2,00,000 all within 30days). INR 19,852 as EMIs were paid regularly since then, and an additional INR 20,000 was paid. This 34.9% interest rate is killing me and forcing me to close this loan or commit suicide. I have arranged another loan just to settle NAVI’s 34.9% interest loan.
Now, while attempting loan foreclosure, NAVI is demanding “closing interest = 15,000 approx.” which is 34.9% is charged from the date of foreclosure till the upcoming EMI due date., and another “interest accrued” which is charged from the last EMI date till the date of foreclosure.
I am willing to pay outstanding principal amount + interest till 20/10/2023 (date I initiated foreclosure request, filed complaint with GRO Navi).
Kindly help me come out of this debt trap and penalize NAVI for the mental harassment I encountered throughout my association with Navi as a customer.
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