Iifl - change in interest slab in gold loan

Sir,
Its to bring your kind notice that i have submitted my grievance at every level of IIFL company (Pl refer trailing mails) about the wrong sale of their Gold loan scheme just to harness more & more money from the costumer pocket without educating them properly about the rules. they allow to change the slab of interest cunningly without proper intimation over phone call/post.
The Nodal officer of company elaborate the my grievance by mentioning that i have not deposited the interest for the month of June(Green highlighted line). But, sir any body can see in their reply that i have deposited the interest of june in May month in advance. Two repayments (transaction) can easily seen in the table provided by them.
All the officer of that company are used to resolve the grievance in overrated manner & sending their one sided decisions without making a single call to hear their so called "dear costumer".

Its humbly request to provide the justice to me.

Regards,
Nazish praveen
**********
Gold loan account:- GL ********


From: "pno ." <pno@iifl.com>
Sent: Tue, ** Jul **** **:**:**
To: Mohd Afzal <afzl**@rediffmail.com>
Subject: Re: GL********

Dear Customer,

Greetings from IIFL Finance Limited!

We refer to your recent interactions with us regarding your gold loan account number: GL******** and the experience had at the branch.

At the outset, we thank you for the time taken to provide us the below feedback.

We wish to clarify that the loan was disbursed to you post explaining the interest rate and other charges that would be applicable, as is the standard process. Please find attached the borrower copy for your kind reference.

While we acknowledge receipt of the payments made by you, there is a monthly interest that is due to be received from you as mutually agreed.

The payments due to be received vis-a-vis that which have made by you are as tabulated below:

CHQ/RCPT NO CHQ/RCPT DATE INTEREST DUE AMOUNT RECEIVED BANK NAME/CASH CLEAR DATE
************ ** Apr **** ****.* **** Online **rd April
************ ** May **** ****.** **** Online ** May
************ ** May **** Online
June ****.** NIL NA NA
************ ** Jul **** ****.** **** Online ** Jul

We hope you will agree that the payments have not been received as per the agreed dates. We have received no payments in the month of June ****.

The scheme that was extended to you was a preferential scheme wherein if you fail to service the interest payments as per the agreed due date, the interest rate gets hiked upwards and the same cannot be rolled back.

While the branch reminds customers of the payments due as a service gesture, we also have a mobile application that is equipped to provide the amount due to be paid every month and the same is available to all our customers for convenient use.

We hope we have clarified in this regard.

We value your patronage and assure you of our best services at all times.

Best Regards,
Vishwanath Chettiyar
Nodal Officer
IIFL Finance Limited


On Thu, Jul **, **** at *:** PM Mohd Afzal <afzl**@rediffmail.com> wrote:
Kind attn: Mr. Amlan Singh, Principal Nodal officer.

Sir,
Its kindly inform that i have submitted my grievance towards my Gold loan through email (training mail) on **.**.**** But could not received any positive solution from all initial/primary levels as all mail attached herewith.

Sir, they all simply turned the matter towards misbehavior of BM/TM instead of look into the root cause of dispute. My chief concern is to bring your cognizance about the Miss-sale of scheme by Smt Tabassum & also about her negligence to deliver the important terms & conditions resulting in huge financial burden imposed outrightly on me by the company.

kindly do the needful as i also made a grievance call on PNO desk (***********) today.

Regards,
Nazish Praveen
**********
GL********


From: Firdoos Ahmad Mughal <firdoos.mughal@iiflmail.com>
Sent: Sat, ** Jul **** **:**:**
To: "Gold Helpline" <gold-helpline@indiainfoline.com>, "afzl**" <afzl**@rediffmail.com>
Cc: "Vikas Kumar" <vikas.kumar**@iiflmail.com>, "Satendra Kumar" <satendra.kumar@iiflmail.com>, "Pankaj Gupta" <pankaj.gupta@iifl.com>
Subject: Re: GL********

Dear Customer,

*) Further, I pleaded to Mr. Satendar, BM & Mr. Firdosh, TM about her negligence in performing the duties & cheating with customers. But both were rudely treated me with the statement “Jo karna hai karlo, defaulter tum hi ho”. Sir, how it come if I’m paying before my due dates as informed by your representative?

Can you please Share what kind of Misbehave I have Done with You?
I Answered Politely to you but when You threaten me that i am Going to Court then i say please this Is Your Choice because There is No gap from our Side you Can go for Court as Normally This is Company Scheme which is not Step down and at the Time of Loan pleading You are informed properly About the Scheme and also branch has provided Borrower Copy in which every Thing is mentioned properly

If i have Done any Kind of Misbehave or Rude behave With You Please Share the recording otherwise Dont blame anyone
*) She didn’t intimate me that your next due date of repayment will change according to your payment (either on date or before due date). I informed her on **.**.**** that I have paid my first repayment today but she deliberately ignored to inform such an important condition of changing slab of ROI even I paid sincerely before due date. The recorded call with her on **.**.**** is attached herewith for reference.

As per Our System your Due Is on Every Month of * as First two Payments you have done on Time as per you and our system but third payment was paid advance instead of June you have paid in Month of May Due to which the ROI slab was Changed as per Scheme beacuse we are Not recived any payment in the month of june for your reference Please Find the details

CHQ/RCPT NO CHQ/RCPT DATE CHQ/RCPT AMOUNT BANK NAME/CASH CLEAR DATE STATEMENT TYPE
******** ** Jul **** ****.**** Online ** Jul **** DRE
******** ** May **** ****.**** Online ** May **** DRE
******** ** May **** ****.**** Online ** May **** DRE
******** ** Apr **** ****.**** Online ** Apr **** DRE


Your Loan Amount is ******
ROI per Month Which is *.** % ( If you paid under ** Days )

Amount per Month Rs****.*** ( ** days)
Regards ,
Firdoos Ahmad Mughal!
Territory Manager UPUK !
IIFL Finance Ltd
Contact @ **********




---- On Sat, ** Jul **** **:**:** +**** Pankaj Gupta <pankaj.gupta@iifl.com> wrote ---

Firdous,

Check this on priority basis...and revert..

Thanks & Regards,

Pankaj Gupta
Area Manager (AVP)
UP/UK
**********

On Sat, * Jul, ****, *:** pm Gold Helpline, <gold-helpline@indiainfoline.com> wrote:
Dear Sir,

Kindly refer to the below mail, the Customer is complaining about usage of rude language & aggressive behaviour by our Branch manager & Territory Manager
kindly look into this

Loan Number - GL********

Regards,
Amol Adekar

---------- Forwarded message ---------
From: Mohd Afzal <afzl**@rediffmail.com>
Date: Fri, Jul *, **** at *:** PM
Subject: GL********
To: gold-helpline <gold-helpline@iifl.com>



It’s to inform that, I have availed the gold load of amounting Rs *.** Lakh vide account number:- GL********/dated **.**.**** on *.**% per month from Vikasnagar (Distt-Dehradun) Branch by pledging lumsump of ***gms of gold through Smt Tabassum parveen, marketing person.
She informed me clearly that, as per disbursement date of my gold loan (i.e. **.**.****), the due date of repayment of interest is scheduled at every *th of succeeding month. Hence, I started to repay the interest sincerely, before the due date of every month from April through Gpay(screenshots attached) as follows,
First repayment- Due-Rs.**** Paid-Rs.**** on **.**.****,
Second repayment Due-Rs.**** Paid-Rs.**** on **.**.****,
Third repayment- Due-Rs.**** Paid-Rs.**** on **.**.****,
Sir, as I promptly informed by Smt. tabassum that my due date is *th of every month I managed to repay the forth month on **.**.**** (before the due date **.**.****), the system shows me the amount of Rs.**** to deposit. I asked about the discrepancy in amount to her & she replied that ROI in the loan is changed to *% per month because your date of repayment is shifted from *th of every month to your last repayment date for next month. According to her the date was **.**.**** for my third repayment.
So, my points are,
She didn’t intimate me that your next due date of repayment will change according to your payment (either on date or before due date). I informed her on **.**.**** that I have paid my first repayment today but she deliberately ignored to inform such an important condition of changing slab of ROI even I paid sincerely before due date. The recorded call with her on **.**.**** is attached herewith for reference.
Further, I pleaded to Mr. Satendar, BM & Mr. Firdosh, TM about her negligence in performing the duties & cheating with customers. But both were rudely treated me with the statement “Jo karna hai karlo, defaulter tum hi ho”. Sir, how it come if I’m paying before my due dates as informed by your representative?
I need your prompt & immediate action towards her offensive & aggressive behaviour as she has given me mental shock & financial loss by intentionally let it happened by her to shoot my interest from *.**% to *% per month.
Kindly inverse my gold loan to its original slab of *.**% as your employee was failed to edify me about the most important conditions due to her negligence behaviour.
It’s humbly requested to consider my plea otherwise I’ll constrainedly move to higher/legal as I am not in position to pay double for other’s error. I have also dialed so many time on your toll free numbers today but there is no response.

Regards,
Nazish Praveen
**********
GL********