LoanTap Financial Technologies Private Limited
- Charging interest on an interest free loan Open
I am writing to formally lodge a complaint regarding a discrepancy in the loan amount provided to me for interior designing work by Square Yard through LoanTap. I believe there has been a misunderstanding or miscommunication regarding the funding and repayment terms of the loan, which I would like to address and seek a resolution for.
On **th March ****, I applied for an interest-free loan of INR **.** lakhs for the purpose of financing my interior designing project. Throughout the loan application process, I was explicitly informed and assured that the loan would be interest-free. However, upon receiving the loan disbursal, I noticed that the actual funded amount was only INR *.** lakhs, which differs from the originally stated loan amount.
This discrepancy in the funded amount has led to a discrepancy in the repayment terms as well. I am being charged EMIs based on the full loan amount of INR **.** lakhs, despite the fact that the funding was provided for only INR *.** lakhs. This has resulted in an undue financial burden, as I am expected to repay an amount that is higher than the loan I actually received.
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Apology letter from company
Refund / Credit for purchase
Damages for loss and agony
"The Legal Notice is a very efficient tool to make large organizations listen to your complaint and respond sensibly. I have received a full refund for my order."