Should I go for RBIO against Bandhan Bank?

[vchouksey80]

Hi guys,

I have taken home loan from Bandhan Bank 3 years back. My colony has very limited financer so opted Bandhan Bank,

Initially they offered me 6.75% ROI after RBI repo rate increase they increased it to 9.75%, they kept my EMI as it is and increased emi tenure without my consent.

Now in December 24, I personally visited them to do a part payment of 5lac, along with I requested them
1. Part payment should affect my tenure, not reducing emi
2. Considering relationship they should decrease ROI from 9.75
3. Increase my current EMI

These 3 request they have taken written request and for EMI conversion they ask for fees.

Now after that part payment was settled and they reduced my EMI,

Since then I'm calling them and dropping emails they are fully ignoring me and I can't personally visit as I am out of home town for office work.

I have warned them that I will complain to RBI yet these people are on full ignorance mode.

I need your suggestion, is my case eligible for RBIO complaint?
Or any other way to escalate this to higher authority...

Your response is highly appreciated...

 

[vchouksey80]

@sjmajumder - any suggestions?

 

[sjmajumder]

@sjmajumder - any suggestions?

Did you agree to the pay the fees for reducing tenure?

 

[vchouksey80]

Did you agree to the pay the fees for reducing tenure?

Yes, I have given cheque for that, but my issue is they didn't act on my single request for months, they can't do or practice anything by themselves right?

How come they reduce my EMI when I explicitly asked to increase it.

 

[alokatzenith]

Please raise your concern with the bank's grievance redressal team. Once you don't get the satisfactory reply from them move to RBIO.

 

[vchouksey80]

Please raise your concern with the bank's grievance redressal team. Once you don't get the satisfactory reply from them move to RBIO.

I did email to pno@bandhanbank.com twice, but no response

 

[sjmajumder]

I did email to pno@bandhanbank.com twice, but no response

You can escalate to RBIO.

 

[vchouksey80]

You can escalate to RBIO.

I have not taken photo of my written complaint but I have 2 cheque photo, one I gave for part payment and other for EMI conversion fee,
They may lie or may say anything to weak my case

 

[alokatzenith]

I did email to pno@bandhanbank.com twice, but no response

Wait for a while 15 days or so and then approach RBIO stating that bank is not responding to your mail.

 

[Miss.Marple]

I have not taken photo of my written complaint but I have 2 cheque photo, one I gave for part payment and other for EMI conversion fee,
They may lie or may say anything to weak my case

If you have RBIO in mind, you should make all interactions with the bank through written channel only. Preferred mode is e-mail. In case you are submitting written application in branch make sure you take a signed and stamped copy. Merely taking photos of letters submitted is not proof enough that you have actually submitted.

 

[vchouksey80]

If you have RBIO in mind, you should make all interactions with the bank through written channel only. Preferred mode is e-mail. In case you are submitting written application in branch make sure you take a signed and stamped copy. Merely taking photos of letters submitted is not proof enough that you have actually submitted.

Yes, you are right. I did mistake that I have not asked for receiving.

There are emails but they are one sided from my side they have not responded, except for statement and interest certificate,

 

[sjmajumder]

Yes, you are right. I did mistake that I have not asked for receiving.

There are emails but they are one sided from my side they have not responded, except for statement and interest certificate,

Sent emails are accepted as proof.

 

[praful47]

Hi guys,

I have taken home loan from Bandhan Bank 3 years back. My colony has very limited financer so opted Bandhan Bank,

Initially they offered me 6.75% ROI after RBI repo rate increase they increased it to 9.75%, they kept my EMI as it is and increased emi tenure without my consent.

Now in December 24, I personally visited them to do a part payment of 5lac, along with I requested them
1. Part payment should affect my tenure, not reducing emi
2. Considering relationship they should decrease ROI from 9.75
3. Increase my current EMI

These 3 request they have taken written request and for EMI conversion they ask for fees.

Now after that part payment was settled and they reduced my EMI,

Since then I'm calling them and dropping emails they are fully ignoring me and I can't personally visit as I am out of home town for office work.

I have warned them that I will complain to RBI yet these people are on full ignorance mode.

I need your suggestion, is my case eligible for RBIO complaint?
Or any other way to escalate this to higher authority...

Your response is highly appreciated...

If you want faster resolution you can complain on twitter .
Pno can take upto 20days .

Their employees are illiterate and they work accordingly what the managers says .
In case of complaints higher officials plays politics and will not let you win .
They will have some or the other excuse to defend themselves be it a lie or anything else .
Bandhan bank has growned up over the time by looting poor peoples.

I would suggest you to transfer the loan to some other bank if possible.

 

[sjmajumder]

Bandhan bank has growned up over the time by looting poor peoples.

I would suggest you to transfer the loan to some other bank if possible.

I agree with this statement. Our maid was looted by Bandhan bank, they charged Rs. 3600 for missing one EMI of a Rs. 6000 personal loan.

Don't ask details as I don't know. Maids are not literate and she couldn't explain anything. Just that she had to pay 3600 extra even after paying all EMI's just because she missed to pay one EMI on time.

 

[praful47]

I agree with this statement. Our maid was looted by Bandhan bank, they charged Rs. 3600 for missing one EMI of a Rs. 6000 personal loan.

Don't ask details as I don't know. Maids are not literate and she couldn't explain anything. Just that she had to pay 3600 extra even after paying all EMI's just because she missed to pay one EMI on time.

I had relationship with this bank since 10 years when it was just a microfinance Bank .
I know how this bank works their main target customers are low middle class not even middle class .
Their interest rates are high compared to other banks and the people who think maintaining relationship with bandhan bank will help them in future then drop this idea .

They hire people who are just 10th pass or 12th pass and cannot write spellings correctly.
Don't know how they got licence from RBI .

 

[vchouksey80]

If you want faster resolution you can complain on twitter .
Pno can take upto 20days .

Their employees are illiterate and they work accordingly what the managers says .
In case of complaints higher officials plays politics and will not let you win .
They will have some or the other excuse to defend themselves be it a lie or anything else .
Bandhan bank has growned up over the time by looting poor peoples.

I would suggest you to transfer the loan to some other bank if possible.

I agree with you, however as said earlier in the name of bank, they only funding in my colony, I have 3 years of home loan relationship with them
The other financer is IIFL O guess,
Their employees are not that informative or graduated seems,

 

[vchouksey80]

If you want faster resolution you can complain on twitter .
Pno can take upto 20days .

Their employees are illiterate and they work accordingly what the managers says .
In case of complaints higher officials plays politics and will not let you win .
They will have some or the other excuse to defend themselves be it a lie or anything else .
Bandhan bank has growned up over the time by looting poor peoples.

I would suggest you to transfer the loan to some other bank if possible.

Will RBIO work? Just to scare them that I'm not going to keep quiet,

 

[praful47]

Will RBIO work? Just to scare them that I'm not going to keep quiet,

Just tweet it will solve your problem.
You can complain to RBI but there is no guarantee you will win .