Oct 15, 2016 01:55 PM
8924 Views
I recently got a pre approved personnel loan from capital first. in 2015 I had bought a consumer loan to purchase refrigerator worth 24k from Capital first and it was really good experience to deal with them with convenient flexible EMI for 8 months. even though they say 0% interest, I got no idea how accurate it is, I doubt they might have included the charges in some other ways. but however it was easy and hassle free transaction.
after completion of my consumer loan, customer support from Capital first called me and informed me about pre approved personnel loan and I wanted more details, so requested for the same. problem is every time the new person from customer support calls me and I had to explain everything from the beginning. this happened to me for four times and the fifth time I could get the proper details. I think customer support needs to be trained well and they lack information and for every silly question they want to speak to team lead and come back and put me on hold for more than 15 minutes.
initially they said interest rate would be 21% flat per year and finally agreed for 17%. and they got some other additional one time charges( insurance on loan, credit report etc which is not necessary but they say its mandatory) which they deduct form the loan amount and later credit the rest.
Pros-
Documentation, verification and loan processing is very fast and happened in 48 hrs and as promised.
Cons-
Interest rate is huge, unnecessary charges(one time, while processing), and customer support is irritating at times.
however I opted and got the loan as I was in need of it.
