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Vipin Kaushik on 14 April 2018
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foreclosures charge on lap

In May2016 I applied to ABFL for a LAP as regular practice they got the blank loan kit signed. When

they show me the sanction letter I objected for foreclosure charges term that was 2%.As I have

already told about zero FC charges at the time of application and given a letter also. I was promised

that after 18 months FC charge will be nil. I was asked to acknowledge the letter and revised letter

will be issued. After three days on 31st March-2016 I received another letter where in no FC clause

was mentioned. I was told that FC charges is nil after 18 EMI. After completion of 18 EMI I requested

ABFL for loan closer as they were charging ROI @ 11% but in market LAP rate is 8.5 to 9%. Even

after repeated reminders through mail and telephone .After so many reminders I was informed by

ABFL executive that they can reduce ROI up to 1% but if you go for foreclosure FC charges will be

2%.I told the above history but he confirm that as per our record your FC charges is 2%. Some points

that are mentioned in letter or mail can be proved but other points that were by telephonic or

verbal cannot be proved. I want foreclosure charges nil.

Loan a/c no. ABFLND_LAP0000002768

Borrower: Best Auto Industries( Prop.) Vipin Kaushik

Co-1 Meenakshi Kaushik (Wife ) Co-2 Shrey Kaushik (son)

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