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DI have transferred my home loan from sbi to l&t while also getting additional top-up (30 lakhs)
Even though my credit score is excellent, I have lots of personal and app loans. While the process was going on, I was told they will give me 10lakhs first and whatever personal loans I have by then, I can clear and show them NOC.. and then they will release the rest of the amount. Suddenly they changed the tone and gave 18.5 lakhs and have asked me to clear everything then only they will release the rest. Somehow I cleared all the loans but two (because those banks want me to wait for a week to start loan closure process). I informed the same with l&t but they are hellbent saying they cannot give me the balance. I asked them to show me proof where I signed all these conditions before, they are yet to sens me the agreement. Funds are absolutely necessary for me now and I want to know if I can take any financial legal action -
MComplain to higher ups at LT, next step is RBI. Resolution times at RBI are longer so your best bet will be to go through LT.
Note to self: avoid nbfc and go with traditional banks for loans.-
DBut I dont even know how to reach higher ups. I called customer care but they said they cant help. The representative at l&t refuses to share his manager contact details. However, I do know where the office is
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SThere’s a nodal officer – you can find their details through company website.
You need to write them an email and call and raise a complaint and get a complaint reference number.
Using this reference number you can escalate to the NBFCs nodal officer and further to the organisations ombudsman
Please note that none of these processes are “fast”
They can take months or years to reach a resolution. -
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