[Resolved]  Tata Capital — prepayment amount not adjusted with the loan amount even after two months

I have made a prepayment amount of 98, 000 in the month of august. The amount is not adjusted with the principal until oct 12th.
I requested for a repayment schedule statement in september and saw that the prepayment amount was not adjusted with the principle amount. I raised a customer complaint and it took more than two weeks to receive a response from the team.
Hoping that the issue would have been resolved, i did not check with customer care until my next emi in october.
I requested to share the latest repayment schedule after my october month's emi was debited, i noticed that the amount was still not reflected. Once again customer complaint was raised.
I received a call from one of the employee after two days and was told that they forgot to update and they will not be able to revert any changes and said sorry.
I have to now pay my emi for 21 months instead of 20 months even though the prepayment amount of 98, 000 was debited from my account in the month of august. I am at loss of 10, 000 rs!

I wanted to know if it would be ok if i do not pay my emi for a month and ask sorry? I would be charged with fine for late payment and other additional charges for cheque bouncing.
I don't understand how one could be so lethargic about handling someone else's money.

I do have an acknowledgement receipt of making prepayment in the month of august. I need a solution for this and i will not be paying additional emi for no fault on my side.
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Nov 18, 2018
Complaint marked as Resolved 
TATA Capital customer support has been notified about the posted complaint.
Verified Support
Oct 18, 2018
TATA Capital Customer Care's response
We regret the inconvenience caused. Request you to confirm the product your query is pertaining to along with your registered contact details. We have duly noted the query and our team will get in touch with you shortly.
Oct 23, 2018
Updated by BCN
Product: Personal Loan
Loan Account Number: TCFPL[protected]
Aug 27, 2019
Updated by BCN
Once again the issue is back!! Tata Capital has mentioned in their loan policy that part payment can be done once in 6 months. I had made part payment of Rs 49470 on 9th Aug'19. The amount was debited from my account on 14th Aug'19.
Tata capital promised that the part payment amount would reflect in the repayment schedule on 22nd Aug'19 latest. When I checked with customer care executive on 22nd Aug, I found that they had mentioned wrong receipt number and it would take them two more working days to process. Meanwhile I had also dropped a written complaint to [protected]@tatacapital.com explaining the situation.
My next call to customer care was on 26th Aug'19. I received same response from the team that processing is still pending. I requested the team to raise a complaint and close it at the earliest. Inspite of frequent calls they ignored my request completely.
On 27th Aug'19, I am receiving an email saying complaint has been raised against the branch for not processing the cheque and it would take 3 more working days to process this complaint. What is the guarantee that they will mention the right receipt number again. This complaint is raised against Ops team for them to respond on why it was not processed but not address my problem.
I faced similar situation last time when the Ops team failed to update part payment amount of Rs 98984 in the system for 2 MONTHS!
My next EMI is on 9th of September. I had now paid 5 months EMI as part payment (49470/9894 =5 ) and my tenure would reduce by 6 months. If they process this part payment on time, it would reflect in the tenure before Sep 9th. Now Tata Capital's tactics is to drag this process for 2 MONTHS like last time so that my tenure would reduce to only 4 months instead of 6 months. They are profited! Well done Tata Capital!

Documents Enclosed:
1. Statement generated on 22nd August 2019 (Part Payment amount reflected in the statement)
2. Statement generated on 26th Aug 2019 (Part Payment amount entry was removed)
3. Message from Tata Capital that amount was deibted on 14th August 2019
4. Bank statement for the payment made towards Tata Capital.

Loan Details:
Product: Personal Loan
Loan Account Number: TCFPL[protected]

 
1 Comment

Comments

Heare I'm giving my loan a/c or contract no. 5043664 I was closed loan amount please send the noc immodestly to my address my mail id... syedmehraj.[protected]@gmail.com

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