Interest charging at 30% PM
1 year ago
Sir i took a loan of 10,000 from a company, as per the website it was mentioned interest as 1000 for 61 days tenure after 61 days need to pay 11000, but when the same company approached me they are collecting 1 % per day i.e. interest comes to around 3000 per month, i have to pay 13000 per month, i have paid 13000 for two months, but due to this high interest rates my debts are increasing and there is no option to close it, third month i took loan amt, but could not make the payment, at the time of taking loan i have issued a cheque, after 45 days from taking the loan they bounced the cheque and are threatening will proceed legally, please advice what to do
A.Dear Client
The interest that they are charging is usurious and you can file a complaint to the RBI for this. Let RBI take action against such lenders who are flouting the banking and lending norms to harass the people.
The interest that they are charging is usurious and you can file a complaint to the RBI for this. Let RBI take action against such lenders who are flouting the banking and lending norms to harass the people.
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A.Dear Client,
You may lodge a complaint against them in the police station for harassment and never get involved with such schemes again.
You may lodge a complaint against them in the police station for harassment and never get involved with such schemes again.
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