Location/place: Mumbai
Name of company/service: Diagems Exports
Respected Sir
I would like to draw your kind attention on the fact that, I am being victimised by taking a home loan from Citi Bank as explained below;
On 26th September 2003 I have availed home loan of Rs.30,00,000/- @8% interest vide loan account no.209007 attached copy of the sanctioned letter (Attachment I).
After certain period of time the Citi Bank representative called me telephonically & convinced to get my loan Top-up duly clarifying that this process is only top-up the amount without any other changes.
On 26th September 2005 they sanctioned loan wide account no. 216397 amount of Rs.45,13,027/- including the old loan amount balance. Attached sanction letter, credit appraisal sheet & copy of cheque received for Rs 17,80,595/- Top-up (Attachment II, III & IV). In the said sanction letter it is clearly mentioned as HOME LOAN.
Every frequent interval they used to send me letter mentioning the rise in interest rate. Since I could not digest their interest rate & wanted to close the loan account, upon making enquiries & request, they sent me letter duly mentioning the balance amount payable duly charging PRE-PAYMENT CHARGES of Rs.46,671/- + service tax & Cess (Attachment V).
Upon making enquiry for the reason to charge PRE-PAYMENT CHARGES, they have mentioned that my loan account is LOAN AGAINST PROPERTY not simple home loan. This is totally contradictory to the understanding conversation & correspondence Citi Bank had with me. At the time of top-up, you can see it was clearly mentioned Citi Bank home loan. Nowhere ever till today in any of the correspondence they have mentioned as my loan nature is LOAN AGAINST PROPERTY. Which means even they were charging me a higher rate of interest than normal home loan interest rate.
I have paid up the entire amount as they demanded, but I would like to get justice as I am victimised to this kind of Banking.
Therefore I humbly request you to take up the matter & advice me the further step to be taken to enable me to get refunded the excess interest charged & PRE-PAYMENT Charges charged.
Thanking you
your’s faithfully
Govinda K Shenoy
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