Dear sir

I avail a loan of Rs 84600 from muthoot finance on 27/10/09 ( loan account 0008890) aganist my gold ornaments of 74.5 Gms as per muthoot finance ( actual is more then this) . at that time muthoot tell me 2% rate of interest should be payable at every month.i also paid Ist installment of Rs 1700 on next month of november but fail to pay the rest of interest because of my worse financial condition . after some time when i was in a condition to repay the whole loan amount i was shocked to know that my outstanding of loan of Rs 84600 is now more then 135000. when i ask for my loan statment to under stand the said amount they refuse to give me and said that they can't give me statement and only give the outstanding amount written on a plain paper . when i ask about the rate of interest they said it is 3.5 % per month . when i tell them it was only 2 percent then they reply that they change the rate of interest because i failed to deposit the interest amount at time. I also sent several e-mails to muthoot head office but they never reply. sir its totally unfair how can they change the rate of interest so high without any intimation. if i was failed to deposit the interest they should charge the interest on interest. but insteat of that they charge so much interest that a common person can't pay and they will get a chance to auction my ornaments which make them huge profits . muthoot finance is opting the old tradition of zamidari system in which rich landloards garp the land of farmers of non paying the high interest rates so the muthoot is doing they also change the rate of interest so high so that they can also auction our gold ornaments. here is my humble request to the consumer court to direct muthoot finance to re-calculate my loan interest as per 2 % per month . they can also charge the same 2% interest on my outstanding interest payment which i failed to pay.


muthoot sec 14 gurgaon branch address from i availed loan -----

Shop/office No.14, Ground Floor, Sector-14,Urban Estate, Gurgaon, Haryana
District : 24 Parganas
State : Haryana
Tel - 0124-4256901 / 02 / 03


muthoot head office ----
MUTHOOT CHAMBER
OPPOSITE SARITHA THEATRE COMPLEX
2ND FLOOR, BANERJI ROAD
KOCHI- 682018 - INDIA
PH - 91-484 239




Thanks & Regards

Sunil Yadav
246 sector 17 a
gurgaon
haryana
mob - 9711168867
muthoot loan amount - ooo8890