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home loan Mr-Himanshu-nagpal | Loans and Credit Cards

06
Jul
2013

I have taken a home loan from HDFC bank after foreclosing my previous loan with First blue, Foreclosure date of my loan was 25th of the month and I tried to get the closure cheque by 18th of the month, I was assured by the bank personnel that lawyer will collect the cheque and will deposit to the First blue bank on your behalf .for this I need to pay Rs 3500 as a lawyer fee. On Monday I have to go for an official travel l so Sunday I again called and confirmed that lawyer will deposit the cheque on time that is before foreclosure cheque. After a week I contacted my first blue bank to find out the status of loan closure as I didn’t received any message that my loan is closed with the bank and got to know that cheque is still not deposited to the bank after further digging in the matter I got to know that lawyer has collected the cheque but did not deposited to the First blue bank, Neither he contacted me/ my wife, Bank personnel was also sleeping and didn’t respond on the calls , Lawyer also stopped responding on the calls , After chasing him a lot they wake up and start processing the foreclosure after 10 days of cheque issued to me. Till time the cheque was on float and I already paid the interest Rs 21000 to HDFC bank for 15 days time .On the other hand due to delay of foreclosure with first blue is already delayed and I have to pay and additional interest to First blue also of rs 17000 for the time of 10 days . I started chasing HDFC bank for resolving of the Interest issue and excess amount paid by me for NON UTILIZATION of fund/ Cheque which was lying with the lawyer, For two months I am chasing the thing and still this issue was not resolved. - I was not even told by the bank that a new cheque could have been issued for the chequed not utilized and I would not be liable for paying the interest of unutilized cheque. - No satisfactory Resolution of my issue by the bank in time - It was a mental harassment by the bank for collecting document and getting the cheque. - Being the biggest bank they had the poorest customer services. Resolution i got from the bank Customer service is This issue is between Lawyer and you so you need to resolve with him . Bank is no where responsible for any thing .Bank personnel did not informed me about ( new cheque can be issued if cheque is not utilised and no interest payment will be taken Unprofessional services. I have to go to bank several times for getting my loan sanctioned after filling the application .They simply tries to lure you with your talks and once you are in then it will be a vivious circle .

By IndianMoney Experts - 2013-Jul-06
Dear Himanshu , Please contact the toll free number of HDFC BANK at 1800-102-3333.In order to resolve your complaint.. The common problems that come under home loans are many of the home loan applications do not pass even the first test. They are out rightly rejected due to incompatibility between the borrower\'s qualifications and lenders requirements,With every application form for home loans, banks require about 0.25% to 1% of the loan amount to be submitted as the processing fees. This processing fees is generally not refundable.The monthly income, financial history, other unpaid loans with the borrower, past repayment record, credit card usage history if any, bounced checks, average balance with the banks, continuity in present employment, total years in employment, nature of employment etc. These factors all clubbed together help the bank to decide whether it will be able to recover its money satisfactorily or not, Whether to go for a fixed rate or floating rate interest for home loans is a dilemma which almost every home loan borrower faces. Even after deciding on a particular loan regime, the home loan terms and conditions, fine print can create havoc with your interest rates. If you which to know more about thome loans Please contact IndianMoney.com which is India\'s only free on call money adviser.
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real estate Mr-Nirmalbaba1960 | Real Estate

05
Jul
2013

I have had a very bad experience with this builder. His attitude is very \"hitler style\". He forces things on owners and asks for insane demands. Asks for payment demand even before the construction for that stage is ready .Charges interest on delay of payments(due dates for payments is very short and strict). Will not inform you of interest earlier and will ask for a huge amount in the end.Charges interest on interest. Very rude attitude in dealing with owners. never available for talks, Poor quality of tiles/patterns/doors fixed, Agreement is all made in his favor, for any illogical payments he quotes agreement which was very cleverly made in his favour at the start Didn’t deliver the quality what it promised.
By IndianMoney Experts - 2013-Jul-05
Dear,Nirmalbaba, One of the most common complaints of buyers against builders is regarding the specifications of the built up area and the carpet area. Customers are frustrated and tired of some builders who inevitably have hidden charges to offer with any transactions you make with them. The commencement certificate and its verification is a must to ensure that the building construction is authentic and under the legal specifications that are laid down by the local authorities. Quality is yet another area, where the builders prove themselves as unscrupulous. Many a times, builders do not provide with what they initially promise. In order to know more about Real estate please contact IndianMoney.com. This is India\'s only free on-call money adviser.
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home loan Mrs-Prathibagirish | Loans and Credit Cards

05
Jul
2013

We took a home loan from Axis bank in 2010 since it was the only bank with no prepayment penalty at that time. We went through a DSA and despite this had to visit the branch 3 times before the loan was disbursed. Once the loan was disbursed we realised to our surprise that they did not have a customer care number for home loan we had to visit the branch for every single thing. We recently realized we were paying 11.75% interest were the actual rate charged to new customers is 10.25 -10.5%. When we approached the bank ( we had to go to the branch, since though AXIS bank woke up to a customer care a year back, its very difficult to get through to them and get any thing done on phone). We were very categorically told since we were existing customers we would be given a rate of 11.25% if v paid a minimum processing charge of 10000. Another shocker was that the rate would be based on initial loan sanctioned not on balance o/s as is the case with ICICI and other banks.We have taken two home loans in the past with ICICI and HDFC both were smooth and we never had to run from pillar to post. Further they were interested in retaining customers and would be fair with their terms. If you are considering home loans stay away from Axis unless you have the time and energy to run behind them for everything and dont mind being levied extra interest for being their existing customer.
By IndianMoney Experts - 2013-Jul-05
Dear Prathibagirish, The common problems faced in home loans are the interest rate dilemma ,rejection of loan at the first stage,processing fee not refunded.In order to resolve your problem Please contact Axis bank toll free no.1-800-23355-77.Banks provides many facilities like refinancing of home loan to enjoy the benefits of lower interest rates from other banks which have lesser interest rates..if you want to know more about home loans Please contact IndianMoney.com .This is India\'s only free on call money adviser.
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real estate Mr-sreenivasan | Real Estate

03
Jul
2013

Guys!! I purchased flat here and not at all happy with the quality of work here. Marketing guys make all false promise. My all dreams for my sweet home is shattered once i started staying in. They have done all temporary work so that they complete the work sooner and sell the flat and steal people hard money. i have got so many trouble, now waiting for right moment to sell my flat and get away. These people know how to trap people once u approach them for purchase inquiry. Make wise decision and do proper search before u purchase flat here. inquire as many as flat owner about experience staying already. don\\\'t feel that how flat owners will respond. Be positive. All the best.

By IndianMoney Experts - 2013-Jul-03
Dear,Sreenivasan The problems generally faced in the real estate sector are companies making false promises,companies being fake,companies not keeping their promises.In order to solve these problems government passed the Real estate bill.salient features of the Real estate bill include the bill imposes strict guidelines on advertisements and prospectus from builders and also has provisions for claiming compensation for loss caused by misleading statements.along with selling based on carpet area,should deter misleading advertising and lofty promises .The provision in the bill to set up an appellate panel to take up disputes between buyers and builders with help in the speedy resolution of issues such as delays,change in specifications and so on typically faced by buyers.In order to know more about real estate please contact Indianmoney .com.This is India\'s only free on call money adviser.
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home loan -Mr-Abhishek | Loans and Credit Cards

02
Jul
2013

Review Alerts Set email alert for this review / product Bookmark this review Print this review. Taking a Home Loan All Advices Taking a Home Loan Rating Wanted To Shift My Home Loan from GIC to HDFC By: abhi2963 | Jun 12, 2013 05:08 PM Hello Everyone I am presently having a Home loan from GIC housing Finance Bangalore which is a year old. Presently I am paying 12.5% rate of interest. I was thinking to shift my home loan from GIC to HDFC as HDFC is offering 10.4% rate of interest. I would like to know if my decision is a viable one as I have not done much business with HDFC, I am not aware that how do they regulate their rate of interest. It should not happen that once my loan is transferred within few months I am rolled back to higher rate of interest. Can any one suggest me on this
By IndianMoney Experts - 2013-Jul-02
Dear, Mr. Abhishek, Please contact GIC toll free number-18001030000.In order to solve your complaint. You can always use the home loan balance transfer option as a tool to procure interest at a lower rate on your home loan. Balance transfer is a refinancing option to get the existing home loan in one bank transferred to another bank to avail the benefits of a lower interest rate. Let us consider the case in which we have taken a loan of 15 years tenure we still have about 10 years of repayment left . Here the new interest rates offered are 1% lower than the rates offered by our bank. Here we have the balance transfer option where we shift the outstanding loan from our lender to the cheaper lender. Here the new lender will check our past repayment history and it is necessary to keep the statements handy. Banks charge around 0.5%-1% of the total home loan amount applied for as a processing fee. It is possible with hard bargaining with the new lender to bring this down or in some cases even waive off these home loan processing fees. In order to know more about home loans please look up the website IndianMoney.com. This is India\'s only free on call money Adviser.
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PLOT POSSESSION , MANOKAMNA CITY DEVELOPERSS-JAIPUR, REAL ESTATE Amit | Real Estate

28
Jun
2013

I would like to inform you that we have purcahsed 4 residential plots of 111sqyrd each by manokamana city developers-jaipur, we paid all dues but still they not ready to provide final registion and plot possission. please help us
By IndianMoney Experts - 2013-Jun-28
Dear Amit, There is a bill that has been passed by the government which would help you to get an insight of your problem.With the Union Cabinet approving the Real Estate (Regulation and Development) Bill, the country\'s highly unregulated and unorganized real estate sector moves a step closer towards greater transparency and compliance. The Bill, which looks at the residential market, seeks to create a central regulatory authority at various state levels authorities for the real estate market in a bid to protect buyer interests by providing a uniform regulatory framework. The Bill seeks to prevent developers from putting out misleading advertisements; ensure that they don\\\\\\\'t market projects unless necessary approvals are in place; and direct developers to declare a time frame for developing projects. The Bill also seeks to impose monetary penalties on the developer for project delays, with repeat offences liable for a jail term.It is a pro-buyer bill. You go to any house and you will get some complaints against the developer. There is lot of difference in what they promise and what they deliver. But monetary penalties on the developer for delays, with repeat offences liable for a jail term is a welcome step and will bring control over builders lobby. If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your real estate needs.
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STANDARD CHARTERED BANK Sandeep | Loans and Credit Cards

28
Jun
2013

Respected sir / madam Myself SANDEEP GROVER resident of B-2/ 174, Paschim Vihar, New Delhi- 63. I have to make a complaint against standard chartered bank. I had availed the loan from the bank on august 2003. At that time it was 6.5% on home loan and 7.5% on home saver. I had choose home saver a/c. after that they increased my rate of interest and bring it to 14.5 %( approx.) Without giving any information to me. When I came to know then I talked to them and asked for low rate of interest but they refused. Then, I decided to swift my loan a/c to another bank. I asked for fore closer letter from them, after that they told me they can reduce my rate of interest. They offered me 11.5% but I refused as I was getting 8% rate of interest from State bank of Patiala. In all this year, I had paid all EMI regularly. It was in the month of April 2009 when I asked for fore closer letter. Now they don’t give fore closer letter. When I insist for 4-5 times and send many mail then they gave me a fore closer letter in the month of august adding 2.5% on balance loan amount for pre closer. This circular was passed in month of august itself. Then I talked to the manager in Punjabi bagh branch and then they removed the charges. As I had applied for fore-closer letter in the month of April. The amount which I had to pay was on the basis of august EMI clearance. I received a pre closer letter from them on 29th august 2009 and by draft on 2nd September 2009 I paid the loan amount. Then, I received a statement in which they had included EMI for the month of September. When I asked them, why they had added the EMI for the month of September when it’s clearly written on letter that the amount is to be paid by me is on the basis of august EMI clearing. They told me because I had made a payment on 19th September but when I showed the receipt in which they had received the payment on 2nd September they don’t had any answer. They replied that they have to ask there senior. But till today they didn’t replied me. More than 50 times I had visited there Punjabi bagh branch but even then they didn’t replied back. When I said if they don’t give me the answer then I have to go to consumer court. They said if I go to consumer court then they will put my name in the CIBIL and no other bank will entertain you.
By IndianMoney Experts - 2013-Jun-28
Dear Sandeep, Kindly contact the Standard Chartered Bank Customer Care on Toll free number 3940 4444 / 6601 4444 in order to resolve your complaint.Home Loan Balance Transfer is a refinancing option to get the existing home loan in one bank transferred to another bank in order to avail the benefits of a lower interest rate.Even when the central bank has reduced policy rates in the past, many banks didn\'t pass on the benefit of lower rates to their existing borrowers. This is probably the only sector where existing customers are given a raw deal when compared to newer customers.In fact, they should be given loyalty rewards in the form of lower interest rates. Yet, banks continue with the discriminatory practice of wooing newer customers with lower rates, while keeping the rates for their existing borrowers unchanged.If you have noticed that your current bank, like many others, follows this pattern, you have to find an immediate way out. However, if you find the new bank you are going to shift to also follows a similar path, you need to rethink your decision. Before making the switch, however, attempt to negotiate with your current lender.There have been several instances where the banks have agreed to re-price the loan when the borrowers expressed their intention to shift to another lender. They could levy a conversion fee of 0.5-1% of the loan amount for re-pricing the loan. In case the difference between the new rates offered by your existing lender and the new lender is not huge, you could consider opting for the conversion route. It will help you avoid the paperwork involved in entering into a new home loan contract. CIBIL is a credit Information Company which helps businesses secure loans faster and on better terms. This helps to eliminate fraud from the system. CIBIL maintains and collects records pertaining to loan repayments and credit card bill repayments of individuals submitted by banks and other financial institutions on a monthly basis. It then assigns credit scores to loan applicants which helps evaluate loan applicants for banks and financial institutions. Here IndianMoney.com can help you to make the necessary Financial Planning decisions, if you wish to avail this unique free service from IndianMoney.com, just give a missed call on 02261816111.
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REVISION IN RATE OF INTEREST-LOAN A/C NO.: 01105564 Lakshmi-Jain | Loans and Credit Cards

27
Jun
2013

I am Laxmi Jain with a running home loan from LIC housing Finance ltd with the Loan a/c no. 011055644 as mentioned above. I had taken this loan of 25L for 20years( 240 months). Now i have received a letter from you that as the interest rate is increasing you are revising loan period from 342 months to 570months. I want to clarify from you that when i had taken loan for 240 months, how come this changed to 342 months without any information to me. & how can you keep on increasing the time period without the consent of the debtor. You should atleast ask from us whether we want to increase the time period or we want to increase the installment. Without even asking you keep on increasing the time period. My initial time was for 20 years which you have increased upto 50 years,means i will keep on repaying this home loan for my whole life?? I want a clarification regarding this??
By IndianMoney Experts - 2013-Jun-27
Dear Lakshmi, Kindly contact LIC Housing Finance Ltd Customer care on toll free number at 022 2284 0052 in order to resolve your complaints.The present average age of home loan customers is 35 which does not allow banks to extend repayment period beyond 20 years.To extend loan repayment period to 30 years also gives banks the flexibility in the days of rising interest rates to offer extension of loan tenure keeping the same EMI for existing customers. the new scheme will reduce the burden of EMI in the initial period and encourage youngsters to opt for housing loans at an early age. The LIC has taken care of the long-term aspect of long term repayment in its assets-liability management planning so there will be no problem even if we don\'t have such long deposit tenures.the average age of the borrower for his company is around 34, so a 30-year loan would take it much beyond the retirement age of the borrower. Even in case of a borrower who is say around 28 years, most of the borrowers in this age group will find it difficult at this age to have enough savings to pay up their contribution to buy a house which would be a minimum of 20% of cost plus stamp duty and registration fees. And also basic furnishing and cost of white goods to make the house livable which itself could be another 10%.Therefore kindly address this issue to the concerned authorities.For any queries visit IndianMoney.com as it is India\'s only free on call money adviser.
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HARRASMENT BY REAL ESTATE DEVELOPER Poonam-Chadha | Real Estate

27
Jun
2013

I booked a floor in a project developed by M/s TDI Infrastructure in May 2010. The name of the project is “TUSCAN FLOORS” in Tuscan city in Kundli, Sonepat. The Developer is now refuses to give following details :- 1. The Developer refuses to given details of “NO EMI SCHEME” which was publicized in Newspapers at the time of launch of Project. 2. The amount of Rs 5 lakhs & Rs 5.93 lakhs were paid on 16.05.2010 & 29.10.2010 respectively which is approx 30 % of basic sale price. The developer wrote a letter on 03.02.2011 (after nine months of booking) to visit it’s office and sign agreement on dotted line. My various requests to provide copy of agreement so that I can go through it before signing it have not been responded by the developer. 3. On 30.11.2010 the developer allotted me top floor of T-125 block which was later changed to T-135 without my consent. 4. The developer do not provide details like carpet area of floor, expected date of completion/possession of project & total cost of the floor despite repeated requests. 5. The developer has not provided documents which are mandatory for availing housing loan. 6. In last 15 months I have written 13 letters to the developer but none of these have been responded/acknowledged by the developer. 7. The Directorate of Town & Country Planning vide it’s letter date 10.10.2011 directed the developer to submit comments on various issues raised by me but the developer has not responded to that also.Similar queries from CREDAI has also not been responded. 8. The developer has not acknowledged/responded to any of the letters written by me and now threatening to levy heavy interest and cancel the allotment. I request you to raise this issue at appropriate forum and compel the developer to honor the commitments made at the time of booking.
By IndianMoney Experts - 2013-Jun-27
Dear Poonam, It is very sad that the developers have gone back on their word and promise.There is a bill that has been passed by the government which would help you to get an insight of your problem.With the Union Cabinet approving the Real Estate (Regulation and Development) Bill, the country\\\'s highly unregulated and unorganized real estate sector moves a step closer towards greater transparency and compliance. The Bill, which looks at the residential market, seeks to create a central regulatory authority at various state levels authorities for the real estate market in a bid to protect buyer interests by providing a uniform regulatory framework. The Bill seeks to prevent developers from putting out misleading advertisements; ensure that they don\\\'t market projects unless necessary approvals are in place; and direct developers to declare a time frame for developing projects. The Bill also seeks to impose monetary penalties on the developer for project delays, with repeat offences liable for a jail term.It is a pro-buyer bill. You go to any house and you will get some complaints against the developer. There is lot of difference in what they promise and what they deliver. But monetary penalties on the developer for delays, with repeat offences liable for a jail term is a welcome step and will bring control over builders lobby.And there are certain criteria which needs to be considered before buying an apartment: Approved plan of the building along with the number of floors. Ensure that the floor that you are buying is approved. Check if the land on which the builder is building is his or he has undertaken an agreement with a landlord. If so, check the title of the land ownership with the help of an advocate. Check the building bye-laws as applicable in that area and ensure that the builder is building without any violation of front setback, side setbacks, height, etc. Check specifications given in the agreement to sell of the sale brochure. Is he providing the same actually on the ground or not? Check the reputation of the builder. Ensure that urban land ceiling NOC (if applicable) has been obtained or not. NOC from water and electricity authorities also have to be obtained. Actually if u r going to get a loan from bank,half of the document verification will be done by their legal dept only...don\'t worry...check the property details like super built area,carpet area etc... If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your real estate needs.
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Misselling of Life insurance subkar- | Insurance

26
Jun
2013

Reg: Misrepresentation fraud committed by sales agent Aegon Religare , Mr. Deepak Merhotra , Live wive call centre Services, H-1, Community Centre ( Near Gurudwara ), Narayana Vihar , Narayana , New Delhi. The above agent call me representing that he is calling from HO of Aegon Religare Life Insurance co Ltd. Considering the repo of Agon Religare I purchased the above policies the aforesaid person commit me that this is a newly lunched product and the co. offering 30% cash back on expiry of 45 days and the policy can be redeemed after 4 years the returns will be double the fund value . on expiry of 45 days I enquired about the cash back and receive no reply then I contracted the customer service and did not receive satisfactory answer .it is meaningless to say that the activities carried out by the agent are not known to the company . Company fails to fulfill the commitment , I am sending you back the policy bond and return my money within 7 days rather I will share the matter with media ( Print and electronic ) and file forgery case against the company as well as the sales agent .

By IndianMoney Experts - 2013-Jun-26
Dear Subkar, Kindly contact Aegon Religare Life Insurance Customer care on toll free number 1800 209 9090 in order to resolve your complaints.Read all the information before buying a policy. Mis selling is a rampant practice in insurance products. Always understand your insurance needs before purchasing a policy.Read the fine print carefully during the 15 day grace look in period. You can cancel the policy if not satisfied.Look before you leap. If you feel you are cheated you can lodge a complaint with the District Consumer Forum.For any queries please visit IndianMoney.com as it is India\'s only free on call money adviser.
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NON SETTLEMENT OF PERSONAL ACCIDENT CLAIM, M/S ORIENTAL INSURANCE COMPANY LIMITED, PERSONAL ACCIDENT Raja Ram Prabhu.M | Insurance

25
Jun
2013

RESPECTED SIR, ON 15TH OF AUGUST 2005 I HAD MET WITH AN CAR ACCIDENT AND AT THAT POINT OF TIME I WAS HOLDING A PERSONAL ACCIDENT POLICY WITH M/S ORIENTAL INSURANCE COMPANY LIMITED, WITH ITS CITY BRANCH, KULADI BUILDING, HAMPANKATTA, MANGALORE 575 001 AND THE SAME HAS BEEN SHIFTED TO ITS PRESENT NEW ADDRESS: SRI KRISHNA PRASAD BUILDING, LALBAUGH, MANGALORE 575 003. UNDER POLICY NO. PA/422203/2006/53. AS PER PROCEDURE I HAD SUBMITTED THE PERSONAL ACCIDENT CLAIM FORM DULY FILLED ALONG WITH MEDICAL REPORT BY THE CONCERNED DOCTOR ON 09-11-2005, AS PER THE REQUIREMENT PUT FORWARD BY THE THEN BRANCH MANAGER. CLAIM NO 422203/2006/17. HOWEVER IT WAS VERY UNFORTUNATE TO NOTE THAT INSPITE OF MY REPEATED VISITS TO THE BRANCH, TELEPHONIC (ORAL) REMINDERS AND WRITTEN REMINDERS / COMPLAINTS MY CLAIM HAS NOT BEEN SETTLED TILL DATE. I PRAY TO YOU TAKE THIS MATTER IN ALL THE SERIOUSNESS IT NEEDS AND DO JUSTICE TO ME AND SETTLE MY CLAIM WITH INTEREST TILL DATE.
By IndianMoney Experts - 2013-Jun-25
Dear Raja, Kindly contact the Oriental Insurance Company Limited on Toll free number (0824) 2444825 in order to resolve your complaint.An accident is an unplanned and sudden event with disastrous consequences catching us suddenly, when we least expect it. This could be a collision with a vehicle, flipping over of a car or a falling of a section of an under construction bridge or flyover. This is why we at IndianMoney.com believe that you need to have a solid crisis management plan. Very few people can afford to retain this kind of risk and manage it on their own. This is where the concept \"Personal Accidental Insurance\" comes into the picture.A Personal Accident policy provides compensation to the policy holder and his family members in case of death, permanent total disability, permanent partial disability or temporary total disability.There is a lot of uncertainty in life which cannot be changed. However we can certainly change what we have in our hands by insuring ourselves and our families a bright future. Hence we all must prioritize Personal Accident Policies and make Insurance Planning a necessity in these times. If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your accident policy needs.
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MORE HOME LOAN INTEREST HAS BEEN DEDUCTED BY PNB Naresh-Kumar | Loans and Credit Cards

24
Jun
2013

PNB, Pune, Kothrud, has deducted much more interest on my home loan. I have complained to several time by phone conversion and emails, but have not yet got any response till date. It has been more than six months now. 1. There is huge difference on interest charged for the month of Nov2011 compared to previous months without any notice 2. When there was a constant Rate of Interest during Aug2011 to Jan2012, but the interest component kept on increasing whereas principal component was decreasing, why this is so?
By IndianMoney Experts - 2013-Jun-24
Dear Naresh, Kindly contact the Punjab National Bank Customer Care on Toll free number 1800 180 2222 in order to resolve your complaint. Home Loan Balance Transfer is a refinancing option to get the existing home loan in one bank transferred to another bank in order to avail the benefits of a lower interest rate.Even when the central bank has reduced policy rates in the past, many banks didn\'t pass on the benefit of lower rates to their existing borrowers. This is probably the only sector where existing customers are given a raw deal when compared to newer customers.In fact, they should be given loyalty rewards in the form of lower interest rates. Yet, banks continue with the discriminatory practice of wooing newer customers with lower rates, while keeping the rates for their existing borrowers unchanged.If you have noticed that your current bank, like many others, follows this pattern, you have to find an immediate way out. However, if you find the new bank you are going to shift to also follows a similar path, you need to rethink your decision. Before making the switch, however, attempt to negotiate with your current lender.There have been several instances where the banks have agreed to re-price the loan when the borrowers expressed their intention to shift to another lender. They could levy a \'conversion\' fee of 0.5-1% of the loan amount for re-pricing the loan. In case the difference between the new rates offered by your existing lender and the new lender is not huge, you could consider opting for the conversion route. It will help you avoid the paperwork involved in entering into a new home loan contract. Here the new lender will check our repayment history and it is necessary to keep the EMI statements handy. You can always look up the website IndianMoney.com for your home loan needs.
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Penalty imposed on account No. 63016264232 Jitendra-Mishra | Loans and Credit Cards

22
Jun
2013

I have taken plot loan to construct house only but due to delay in project timelines and relocation of actual plot position later by OMAXE authorities, I could not start the construction of plot. To prove that attaching letter received from OMAXE city recently on 16-Mar-2013 stating that registration of plot has started now only. RACPC SBI indore branch has imposed a penalty of Rs. 119036 on account No. 63016264232 harassing your valued customer.
By IndianMoney Experts - 2013-Jun-24
Dear Jitendra, It is very sad that the developers have gone back on their word and promise.There is a bill that has been passed by the government which would help you to get an insight of your problem.With the Union Cabinet approving the Real Estate (Regulation and Development) Bill, the country\'s highly unregulated and unorganized real estate sector moves a step closer towards greater transparency and compliance. The Bill, which looks at the residential market, seeks to create a central regulatory authority at various state levels authorities for the real estate market in a bid to protect buyer interests by providing a uniform regulatory framework. The Bill seeks to prevent developers from putting out misleading advertisements; ensure that they don\'t market projects unless necessary approvals are in place; and direct developers to declare a time frame for developing projects. The Bill also seeks to impose monetary penalties on the developer for project delays, with repeat offences liable for a jail term.It is a pro-buyer bill. You go to any house and you will get some complaints against the developer. There is lot of difference in what they promise and what they deliver. But monetary penalties on the developer for delays, with repeat offences liable for a jail term is a welcome step and will bring control over builders lobby.You can always look up the website IndianMoney.com for your real estate needs. This is India\'s only free on call money adviser.
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ICICI BANK HOME LOAN Rupa | Loans and Credit Cards

21
Jun
2013

ICICI BANK PRESENTED EMI CHEQUES FOR THE SAME MONTH ONE FOR 42k AND THE OTHER FOR 36K, IT HAS BEEN MORE THAN MONTH THEY HAVE NOT REFUNDED MY EXCESS AMOUNT. WHEN CALLED THE PHONE BANKING ONE MISS MONICA AND MR PAUL SAID THEY CAN ONLY PROCESS THIS REQUEST AFTER A WEEK AND ASKED ME TO CALL UP AGAIN AFTER 7 DAYS. WHERE IS MY MONEY? I NEED THIS WITH INTEREST BANK HAS THIS MONEY FOR A MONTH AND NOT REFUNDED I DEMAND INTEREST FOR THE SAME PERIOD.
By IndianMoney Experts - 2013-Jun-21
Dear Rupa, Kindly contact the ICICI Bank Customer Care on Toll free number 1800 333 499 in order to resolve your complaint.The argument of these banks is that since the cost of their funds that is deposits rates were high the loan rates charged for existing customers is high.For new customers the rates charged are lower as cost of deposits for banks is lower due to fall in the deposit rates.This is the banks argument.However existing customers have the balance transfer option where they can transfer the outstanding balance of their home loan to another bank which offers a lesser rate of interest.Always strike a hard bargain and take advantage of the lesser rates. These banks and financial institutions do follow these unfair practices which they do in the guise of pricing of products which seems to be the natural right of these institutions in the absence of clear cut regulatory guidelines. Unfortunately we do not have any other option but to pay the interest charged by them. If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your insurance needs.
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MISSELLING THE SUBJECT POLICY NO 110313037000 & 110213010569, AEGON RELIGARE, NEW DELHI Akresh-Garg | Insurance

21
Jun
2013

Dear Concerned, This is to bring in your information about above mention policy no, I Akresh Garg bought this policy from representative of Aegon Religare ( MR Sanjay) at the time of taking this policy he told me that it is a very good policy which can give you guaranteed returns or fulfill your all future need but after getting into the details of policy I realized that it is a regular premium policy and the returns he had shown its not guaranteed after which I asked the same representative to cancel this policy & refund my money and to this he assured me that it will be taken care of and your policy will be converted into a guaranteed returns plan for which he has taken a new cheque from me & said you will receive the amount of existing policy within 10 days but you will be surprised to know that he has issued a new policy to me which also was a regular premium policy and neither I’ve received the amount of existing policy. After all this I visited Aegon religare office to cancel these polices but they were unable to help me on this and said your freelook period is over and it can’t be canceled now. Please suggest what should I do now & kindly consider my complain and direct Aegon Religare life insurance company to take my complain and solve my problem.Now i want my entire money back i don’t trust to any private life insurance company who always cheated to people for their personal benefit Thanks and regards Akresh Garg
By IndianMoney Experts - 2013-Jun-21
Dear Mr Akresh, Please contact Aegon Religare customer care center at 087 67 130222 in order to resolve your complaint . Kindly read all the information properly before buying a policy.The reason that mis-selling took root after the introduction of Ulip is this: the traditional policy was sold as a 15-year corpus-building plan by the agent; however, Ulip was sold as a three-year money-doubling plan. The sellers did not tell the investors that they needed to keep funding policies every year for 10-15 years for them to benefit. Mis-selling is a rampant practice in insurance products.Read the fine print carefully during the 15 day grace look in period.Always understand your insurance needs.Look before you leap. Don\'t buy the policy in a hurry.For any queries please visit IndianMoney.com as it is India\'s only free on call money adviser.
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Fraud and misselling insurance policy Kamal-Sharma | Insurance

20
Jun
2013

I got call from Reliance Delhi office on 28-Aug-2008. There were around 5-6 calls (from a lady and a gentlemen). They were in hurry to get me insured. These benefits were told by the callers:Policy cover for 15 years.Premium of 30,000/- for first 3 years after that no premium to be paid.After 3 years, I will have option to take out 1,39,000/- and If I leave 15,000/- in my account, my insurance policy will be valid for all my cover period.If I take policy before 30-Sept-2010 (that actually I took on the same day of 28-Aug-2010), a sum of 18,000/- will be deposited in my account as a promotional reward.This policy is given by Delhi office and there is not agent involved. So agent\'s commission of Rs 6,000/- will also be paid to me. I will receive a cheque of Rs 6,000/- along with policy documents in the first week of December 2010. The same commission of each year will be paid through cheque every year to me.To collect the documents like my address proof, id proof etc, an local agent visited my house on the same day from reliance Hyderabad. He showed me his ID too. The guy from Delhi himself instructed the local agent, as to what details he has to fill. As per instruction from Delhi office, I handover a cheque of 30,000/- to this local agent towards me premium payment.I got policy document (in hard copy) on 3-Sept-2010. The condition of policy document was not good. This document along with the cover was torn at the top left corner. This document stated that I have to pay an annual premium of 30,000/- for 15 years, whereas my sum assured is only 7.5 times of one annual premium, i.e. 2,25,000/-. Rest of the amount goes to a complicated \"Accumulation Amount\". When I got another call from Reliance office by the same lady, to check if I have got document or not, I asked her again about the benefits that she told me but were not written in the policy document. She said that I will get another package along with the cheque of 6000/- in which all these benefits will be clearly stated. Till now I have not got any of such document or a cheque. Since i was not suspicious till December 2010, i came to know about this fraud done to me recently when i found many such complaints about the same issue on internet. Incidentally in all the cases advisor is same. When I call to helpline no 1800-300-08181, my policy number is called incorrect. However I can see my policy details on reliance insurance website.Now the whole scenario is a case of clear cheating and fraud by Reliance Insurance of the customers, luring them to take insurance policy by first promising them attractive benefits and then once policy is taken, show them some other benefits. I feel extremely disappointed and cheated by Reliance Life Insurance. Since any relationship cannot be build on cheat and fraud, I am not interested to continue me relation with Reliance any more. I want my premium money of 30,000/- paid back to me. Incidentally the Adviser’s Name is Vighnaharta Direct Insurance Broking Pvt. Ltd.,
By IndianMoney Experts - 2013-Jun-20
Dear Mr Kamal, Please contact Reliance Life Insurance customer care center at 1800 300 08181 in order to resolve your complaint . Misselling is a common occurrence in the insurance industry.Agents have targets and would resort to any method to achieve them.We need to be on our guard to prevent misselling.It is pointless crying over spilt milk.Always understand your insurance needs.Never treat insurance as an investment.Read the fine print carefully during the 15 day grace look in period. You can cancel the policy if not satisfied.Look before you leap.In order to read about misselling and insurance please look up the website IndianMoney.com.This is India\\\'s only free on call money adviser.
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misseling of policy Bharti | Insurance

18
Jun
2013

I took the policy from icici in last january.before giving to me a policy the agent told me that u will invest 12000 n u will get 17000 aftr 1year.n he told me about icici bank noy icici pru.n didnt told me about 3 years lokng period n term conditions.before recevievng docs n cheque he didnt take any sign of any policy paper or the details of my nominee.when i called the agent for this fake policy he didnt give me any response n same things with co. They also didnt me any positve response.for last two months i suferred alot plzzz take some action against the co. And the agent also.his name is ABhishek sharma.he is the manager in icici pru.he is such a corrupt n totally a lier person.who cheated for every customer .plzz help me out of this matter. Plzzzzz i need ur suggestion what should i do against him and the co. Also i want refund my entire money .plzzz helpppp me this time i really need it.plzzz

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NOT REDUCING FLOATING INTEREST RATES Ravi- | Loans and Credit Cards

13
Jun
2013

I have taken home loan from ICICI in 2006 for 7.25% interest rate. From past 1 year i am paying 11.25% interest rate but when we compare with other banks from past 6 months they are offering 8.5 - 8.75%. When i asked the ICICI folks that as the other banks are charging only 8.75 why you are not reducing my floating rate from 11.25 to 8.75? They responded that some amount would be charged to reduce the floating rate. I asked while increasing you are immediately changing the interest but when comes to reducing the interest rates you are not ready to do that. And even they were saying that we are saying that this option is available when the customers are visiting to our branches. I think the interest rates should be made consistent in maintaining standard across all the banks.

By IndianMoney Experts - 2013-Jun-13
Dear Ravi, Kindly contact the ICICI bank Customer Care on Toll free number in order to 1800-22-4848 resolve your complaint. Floating Rate of interest means an interest rate that is allowed to move up and down with the rest of the market or along with an index. Floating rates have a certain base rate called index and a floating element called spread. In simple words you may say that base rate is the minimum rate, below which Banks cannot give you loans and spread is your final rate of interest after adding some % to Base Rate. Base rate may be fixed for all customers. RBI has been taking steps from time to time to address the concerns of the borrowers regarding banks not readily passing on the benefit of rate reduction to them. It has been observed that banks tend to promptly raise the interest rates. However, they are often reluctant to reduce them for the existing borrowers while at the same time wooing new customers with lower rates.If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your home loan needs as it is India\\\'s only free on call money adviser.
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Deliver the Policy by Misguding by Agent of Bharti AXA Om-Prakesh | Insurance

12
Jun
2013

I have purchased a product Bharati AXA Life - (Policy number: 500-9080747)through BHARTI AXA in October. But they have given me product by misguiding: Name called Mr Sidharth Walia ( Mobile no 9999845646) was making call me daily and telling me that he is employee of Bharti AXA life calling from Jhadewalan (New Delhi) Branch direct to offer a very charming product... one he come to my office and assured me to return Rs 9700/- out of Rs,20,000/- premium for first year and Rs6000/-commission out of Rs. 20000/- in remaining years--to be paid annually.. . They have collected the documents and said that commission amount has booked separately... do\' not disclose to any one about this...They also inform me that documents will delivered in two stages.. first welcome kit will despached which is not original.... this is only for information purpose...original documents will despached later..Policy review period will start after receiving the original documents. Another person called Mr Rajeev Batra (Mobile no. 9582481097) , has called me to described me an RM of Branch, assured me for better service in future.... but today I called him....Now call picking person reply me that this number is wrong ...he is student and receiving number of calls related to Bharti AXA....reply me not to call again. After receiving the welcome Kit, I contact to Mr Rajeev Batra immediately.. he told me that original documents will send within couple of days... after some time I asked on the given number....He told me that person is out of state and will come soon.... he will gauid me .... Today I contact again and asked for commission and original documents .... they start to abuse me and told me that I have to Contact in Jhandewalan Branch in this regard. I suspected them that these people may be agent not AXA life employee.....Company can not give me policy by misguiding.... I have lodged the complaint with Complaint cell of Bharti AXA Life Insurance Company on Date 22/11/2012 but I have not get any response from them. Address of Company: Bharti AXA Life Insurance Company Limited 6th Floor, Unit No 601 & 602, Raheja Titanium, Off Western Express Highway, Goregaon (E), Mumbai-400 063 Detail of My Policy is as under: Name of Policy Holder : Om Parkash Sharma Policy no : 500-9080747 Address : 2nd Floor, 26/25, Old Rajender Nagar, New Delhi-110060 Contact no. : 9818575466, Landline no. 011-43100202 ( only 11 A.M to 6.30 P.M)
By IndianMoney Experts - 2013-Jun-12
Dear Om Prakash, Kindly contact Bharti Axa Life Insurance Customer care on toll free number at 1800-102-4444 in order to resolve your complaints. Read all the information before buying a policy. Misselling is a rampant practice in insurance products. Do not let it happen to you. Always understand your insurance needs. Read the fine print carefully during the 15 day grace look in period. You can cancel the policy if not satisfied. All that glitters is not gold. Don\'t treat insurance as investment. Understand the type of coverage provided by the insurance company. Look before you leap. Don\'t buy the policy in a hurry. For any queries visit IndianMoney.com as it is India\'s only free on call money adviser.
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HIGHER INTEREST CHARGE THAN TABLE ---Anil-Ojha | Loans and Credit Cards

12
Jun
2013

I have taken Home Loan from SBI Ganges Garden Branch in July\'2005 of Rs. 3.25 Lacs on floating basis vide A/c No 30009447151. Almost loan amount is being paid only about Rs.1.15 Lacs of principle is remaining but it is surprising to see that interest rate is became higher & higher day by day. When I taken home loan it was 8.50% but now it is 12.75%.12.75% interest rate is not justify with any table chart of SBI HOME loan. HOME LOANS - INTEREST RATES All Rate are floating only (Base Rate= 10.00% p.a.) Loan Amount Linkage with Base Rate over the tenor of the loan Effective Rate Up to Rs. 30.00 lacs 0.75% above Base Rate 10.75% p.a.* Above Rs. 30.00 lacs and upto Rs. 75.00 lacs 1.00% above Base Rate 11.00% p.a.* Above Rs. 75.00 lacs 1.25% above Base Rate 11.25% p.a.*
By IndianMoney Experts - 2013-Jun-12
Dear Ajit, Kindly contact the SBI bank. Customer Care on Toll free number 1800-233-7933 in order to resolve your complaint. Floating Rate of interest means an interest rate that is allowed to move up and down with the rest of the market or along with an index. Floating rates have a certain base rate called index and a floating element called spread. In simple words you may say that base rate is the minimum rate, below which Banks cannot give you loans and spread is your final rate of interest after adding some % to Base Rate. Base rate may be fixed for all customers. But remember that you may end up either paying high interest rate or low interest rate based on the spread the bank charges to each individual. There is no cap on how much the spread should be on and above Base Rate. But charged spread rate need to be justifiable. However it has a drawback of uncertain monthly installment. Here spread cost covers risk costs, profits and bank charges. This logic seems totally flawed. Unfortunately we do not have any other option but to pay the interest rate charged by them or a better option would be to take up the fixed interest rate. If you feel you are cheated you can always lodge a complaint in the District Consumer Forum. You can always look up the website IndianMoney.com for your home loan needs. This is India\'s only free on call money adviser.
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EXCESSIVE CHARGING OF INTEREST Ashok-Kapoor | Loans and Credit Cards

11
Jun
2013

FROM THE FRIENDLY AND COOPERATIVE STAFF OF SBOP BATALA. I OBTAINED AN HBL RS.310000/- ON 14-12-204 UNDER A/C NO.55045463174 FOR PURCHASE OF A BUILT UP HOUSE IN BATALA .THEN RATE OF INTEREST WAS ABOUT @7.50% P.A. INTEREST RATE.REGULARLY WENT ON STEEP HIKE NEARLY 13%PA.AT PRESENT. FINDING MY SELF HELPLESS TO AVOID FROM HIGHEST INTEREST RATE,I USED TO CLEAR MAXIMUM OUTSTANDING BALANCE BY REPAYING. MUCH MORE AMOUNTS AS RS 86000/-,45000/- ETC.IN PLACE OF REPAYMENT OF FIXED EMI OF @3425/-.REPAYMENT TERM OF LOAN WAS FOR UP TO 2016.BUT I HAVE REPAID MAXIMUM O/S LOAN,NOW THE BALANCE IS APPROX .RS 21000/- IN 2009-10 SBOP LAUNCHED AN HBL SCHEME WITH INTEREST RATE OF RS.8%WHERE THEN AS INTEREST RATE WAS CHARGED FROM ME @11.75% FOR UPDATION AND RENOVATION OF MY ABOVE HOUSE,I GOT CONSENT OF LOAN OFFICER IN MAY-2010.I PREPARED ESTIMATE AND VALUATION ETC FROM THE BANK\'S AUTHORISED VALUER/ARCHITECTURE.IN SPITE OF MY PRODUCTION OF REQUIRED PAPERS THEN LOAN OFFICER REFUSED TO GIVE ME LOAN,IN SPITE OF MY GOOD AND DEFAULT LESS REPAYMENT RECORD.AS THE CONSEQUENCES OF REFUSAL OF LOAN BY LOAN OFFICER I HAVE TO TAKE PERSONAL LOAN FROM HDFC BANK @19% UNDER A/C NO.16556828.. AS A CONSUMER MY QUESTION IS THAT IF THE SB PATIALA WAS GIVING FRESH HB LOAN @8% IN 2009.2010 THEN WHY IT WAS CHARGING @11.75% FROM ME AND PRESENTLY FRESH INTEREST RATE IS NEARLY 10% WHY EXISTING CONSUMERS ARE BEING CHARGED @13.75% WHY RATE OF INTEREST IS NOT REDUCED FROM OLD CONSUMERS TIME TO TIME. NOW I WANT TO GET RS. 10 LAC AS FRESH HBL BEING VERY MUCH ELIGIBLE AS I AM GETTING GROSS SALARY OF RS.510000/PM AND ABOUT 39000/-PM AS HOME CARRYING PAY,AND MY GOOD REPAYMENT RECORD EVEN THEN I AM UNABLE TO GET THE SAME FROM THE STAFF OF YOUR LOAN DEPARTMENT SO I AM TRYING ELSEWHERE FOR THE SAME .PLEASE REVERT BACK THE EXCESS INTEREST CHARGED FROM MY LOAN A/C SINCE DEC 2004 ONWARD SO THAT YOUR O/SLOAN MAY BE TAKEN OVER. FROM SOME OTHER BANK. THANKING YOU. ASHOK KAPOOR CIA STAFF ROAD BATALA 143505
By IndianMoney Experts - 2013-Jun-11
Dear Ashok, Kindly contact the State Bank Customer Care on Toll free number 1800-425-3800 in order to resolve your complaint.Existing customers do not get the benefit of reduced rate of interest and banks have their own explanations as they say that the cost of borrowing for existing customers is high therefore they cannot pass on the benefit of reduced rate of interest to existing customers hence they make the benefit available to new customers.Floating rates have a certain base rate called index and a floating element called spread. In simple words you may say that base rate is the minimum rate, below which Banks cannot give you loans and spread is your final rate of interest after adding some % to Base Rate. Base rate may be fixed for all customers. But remember that you may end up either paying high interest rate or low interest rate based on the spread the bank charges to each individual. There is no cap on how much the spread should be on and above Base Rate. But charged spread rate need to be justifiable. Hence your banks may use this tool to charge you more by modifying spread as there is no regulation on this. However it has a drawback of uncertain monthly installments. Here spread cost covers risk costs, profits and bank charges . Usually banks do not avail cheaper interest rate benefit to the existing customer. It is not something that only the State Bank does but even other banks also indulge in the same practices. This logic seems totally flawed. Unfortunately we do not have any other option but to pay the interest rate charged by them or a better option would be to take up the fixed interest rate. RBI has directed banks not to levy charges for foreclosure of home loans on floating rate interest basis, they cannot charge 2% to 3% on foreclosure.You can always refinance your loan from any other bank.If you feel you are cheated you can always lodge a complaint with the District Consumer Forum.You can always look up the website IndianMoney.com for your home loan needs as it is India\'s only free on call money adviser
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Complaint Against Kotak Life Insurance Company -Mukesh-Berwa | Insurance

11
Jun
2013

I had taken Kotak Smart Advantage Plan (Policy No. : 01514112 Name Mukesh Berwa) by seeing Brand Name of Kotak Group by investing monthly 1,500/- since December, 2008. But, we are totally frustrated with the behavior and approach of Kotak Life Insurance Company which we have been never seen in our whole life, this kind of responsibilities and irregularities. They are trying to cheat us since, December 2008 when I purchased this policy. At the time of purchasing that policy (December, 2008), the sales executive of Kotak had given all wrong information and said that after 3 years, if you want then you can withdraw your policy and get your all invested money with good return (1500 * 36 months=54,000 + Good % of return) (I have purchased this policy due to this feature only which is told by the executive, and I had paid 1,500/- per month since December ,2008 to December, 2011). And after 3 years, I had been called to Kotak Life Insurance Customer Care he said that your one year invested money will be gone into Kotak Account and it will not given to you, I will get only 2 years invested money with 6 or 7 % deduction also. They say you have to pay premium for 30 years without fail then only your first 18000 will be paid along with else. I was totally shocked. This is ridiculous. Therefore, I am totally mentally, physically and financially harassed by the Kotak Life Insurance Company and decide to surrender the policy (Policy No. : 01514112 Name Mukesh Berwa) When I said that your sales executive had misguided us regarding the policy and given fake/wrong information then Kotak’s representative said that it is not Kotak’s responsibilities for their sales person/team or executives and you should verify the things. It means there is no accountability and responsibilities of Kotak about their plan and policies and their Sales Executive’s. All the responsibilities and loss paid by the Customer only!!! I would now not like to continue with this insurance policy as there is total difference in what was committed to me at the time of selling the policy and what is being said now by Kotak life insurance help desk.I fully agree that Kotak Life insurance is Making false promises and selling the policy without informing the customer of its full and transparent implication. Please let me know what can be done on this.

By IndianMoney Experts - 2013-Jun-12
Dear Mukesh, Kindly contact Kotak Life Insurance customer care on toll free number at 1800 209 8800 in order to resolve your complaints.Read all the information before buying a policy. Mis selling is a rampant practice in insurance products. Always understand your insurance needs.Read all the information properly during the 15 day grace look in period and you can also cancel the policy if not satisfied.Look before you leap. Don\'t buy that policy in a hurry.For any queries,visit IndianMoney.com as it is India\\\'s only free on call money adviser.
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High ROI for existing customer S-K-Kohli | Loans and Credit Cards

10
Jun
2013

Now ICICI home loan ROI is 8.5 % & for existing customer 13.25 % why. our loan is floating type. what is floating? so many time increasing the ROI, but when decreasing ROI, there is no benifit given to customer why? This is cheating only.

By IndianMoney Experts - 2013-Jun-10
Dear Kohli, Kindly contact the ICICI Bank Customer Care on Toll free number 1800-22-2020 in order to resolve your complaint.Existing customers do not get the benefit of reduced rate of interest and banks have their own explanations as they say that the cost of borrowing for existing customers is high therefore they cannot pass on the benefit of reduced rate of interest to existing customers hence they make the benefit available to new customers only.. It is not something that only the ICICI Bank does but even other banks also indulge in the same practices. This logic seems totally flawed. Unfortunately we do not have any other option but to pay the interest rate charged by them or a better option would be to take up the fixed interest rate option. A floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument. Floating rates have a certain base rate called index and a floating element called spread. In simple words you may say that base rate is the minimum rate, below which Banks cannot give you loans and spread is your final rate of interest after adding some % to Base Rate. Base rate may be fixed for all customers. RBI has directed not to levy charges for foreclosure of home loans on floating rate interest basis, they cannot charge 2% to 3% on foreclosure. You can always refinance your loan from any other bank.If you feel you are cheated you can always lodge a complaint with the District Consumer Forum. You can always look up the website IndianMoney.com for your home loan needs as it is India\'s only free on call money adviser.
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Misguide to sell policy Umesh kant cheetu | Insurance

10
Jun
2013

Umesh kant cheetu take one prudential life insurance policy from ICICI 
Agent.My policy no is 10145342.I diposit 30000rs at first time.After 
that Ideposite 2500RS per month. Now I Deposit 90000Rs till2011.the 
agent told us after 5 Years I got 1,50000.But now told me that this 
policy is under share Market.that is going down and your amount is only
67000rs.Tell me now What can i do.I Purchase this policy from Ludhiana. The agent cheated me

By IndianMoney Experts - 2013-Jun-10
Dear Mr Umesh, Please contact ICICI Life Insurance customer care center at 1860 266 7766 in order to resolve your complaint .A ULIP is basically a combination of insurance as well as investment. A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion is invested in various equity and debt schemes. The money collected by the insurance provider is utilized to form a pool of funds that is used to invest in various capital market instruments (debt and equity) in varying proportions just the way it is done for mutual funds. Mis selling is a common occurrence in the insurance industry.Agents have targets and would resort to any method to achieve them.We need to be on our guard to prevent mis selling.It is pointless crying over spilt milk.Always understand your insurance needs.Read the fine print carefully during the 15 day grace look in period. You can cancel the policy if not satisfied.Look before you leap.In order to read about misselling and insurance please look up the website IndianMoney.com.This is India\'s only free on call money adviser.
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CHARGE MORE INTREST TO MY HOME LOAN A/C -Kailash-Mehta- | Loans and Credit Cards

08
Jun
2013

I HAD GIVEN PROPOSAL FOR HOME LOAN ON NOV -DEC 2010 AND GOT SANCTIONED ON FEB 2011 UNDER THE BANKS TEASURE SCHEME WHICH WAS FIXED INTEREST RATE @ 8.5 % FOR FIRST 24 MONTHS & 1% EXTRA FOR NEXT 12 MONTH & THERE AFTER AS PER THE MARKET RATE BUT BANK HAS CHARGE ME AS PER THE MARKET RATE THE MISTAKE WAS ACCEPTED BY THE BANK AND TOLD ME THE DIFFRENCE WILL BE CREDITED TO MY A/C IN THE PERIOD BETWEEN THE CONCERN OFFICER WAS BEING TRANSFER AND THE NEW OFFICER ALSO ACCEPT THE COMPLAINT TILL 01 FEB THE OFFICER KEPT TELLING ME THAT THE AMOUNT WILL BE CREDITED BUT 02 FEB HE REFUSED ME. SO PLEASE GUDE ME WHAT SHOULD I DO?

By IndianMoney Experts - 2013-Jun-10
Dear Kailash, Kindly contact the State bank of India Customer Care on their Toll free number 18004253800 in order to resolve your complaint. RBI sets interest rates but it is banks who decide how much interest they need to charge.Under fixed rate of interest, interest charged is invariable throughout the loan period. But this will come at a cost. Interest rates on fixed home loans are higher than those on floating home loans. Sure you get the certainty that home loan rates will not rise but you end up paying more for it. The interest rate on a fixed home loan is around 1% - 1.25% higher than that for a flexible home loan.. If you feel that you are being charged interest rates heavily you always have an option to refinance the home loan from some other bank which charges lesser interest rates on your home loan . You can always look up the website IndianMoney.com for your home loan needs.
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