Avanse Financial Services — Complaint Regarding Unreasonable Interest and Forclosure Charges for Avanse Education Loan

Address: Amelia Apartments, 302 A & 302 B,3rd Floor, Squadron Leader Sureshchandra Bhagwat Rd, Model Colony, Shivajinagar, Pune, Maharashtra 411016

Website: www.google.co.in/search?q=avanse+financial+services&sca_esv=559344913&ei=JuHlZJPuHeP4seMPzd-VoAg&gs_ssp=eJzj4tVP1zc0zDCrLIq3NDZRYDRgdGDwkkwsS8wrTlVIy8xLzEvOTMxRKE4tKstMTi0GADE1DoM&oq=avanse+fi

I am writing to express my deep dissatisfaction and concern regarding the handling of my education loan with Avanse Financial Services. I have taken an education loan of 42 lakhs from Avanse, and I am extremely disappointed with the way my situation has been addressed.

To provide you with context, the loan amount was credited to my account, but due to unfortunate circumstances such as my visa rejection, I am in the position where I need to repay the loan amount to Avanse. I am fully aware of my financial obligations and prepared to honor them responsibly.

However, I am troubled by the approach taken by Avanse in demanding interest and foreclosure charges from the credit date to the closure date. It is important to note that I have not utilized even a single rupee from the credited amount, and the entire sum remains untouched in my account. Despite this, I am being asked to pay interest and foreclosure charges on an amount that has not been utilized or disbursed for my education or any other purpose.

I understand that Avanse has its terms and conditions, but I strongly believe that demanding interest and foreclosure charges under these circumstances is both unreasonable and unjust. My genuine intention is to repay the loan amount as promptly as possible, but these additional charges are placing an unnecessary burden on me, considering the situation I find myself in.

Furthermore, I have been approached to pay interest on the entire amount, including insurance policy premiums, which raises further concerns about the transparency of the charges being levied.

I kindly request that you review my case with utmost consideration and empathy. Given the exceptional circumstances surrounding my visa rejection and the fact that the loan amount remains untouched, I urge you to reevaluate the interest and foreclosure charges being demanded. I genuinely hope that Avanse can show flexibility and understanding in this matter, allowing me to repay the loan amount without the undue financial strain caused by unreasonable charges.

I kindly ask for a prompt response and resolution to this issue. I believe that a fair and equitable solution can be reached that aligns with both Avanse's policies and the exceptional circumstances I am facing.

Thank you for your attention to this matter. I look forward to your timely response and an amicable resolution.

[S.Vijay Kumar]
[PUNEE00676060]