Citifinance ---- Bank of Thevidiyas & Paiyyans. Review on Citibank

I had a very bad experience in my 30 years of life and did a great mistake by taking a personal loan in Citifinancial Bank of Thevidya Paiyanns) Henceforth in this statement **thevida** bank means Citifinancial

I was in need of Rs 50, 000 hence I approached the **Thevidiya** bank. The **Thevidiya paiyyan** officer said after verifying all my documents, I will be elegibile only for Rs 35, 000. Since I was in desperate state I agreed to that amount and the interest rate was only 20%. The **Thevidiya paiyyan** officer did some gimmik calculation and derived a figure for my EMI which was 1994 PM for 36 months. They deducted Rs 1500 for service charge and other **Thevidiya **charges. I got only Rs 33, 500 in my hand.Knowing the heavy interest I agreed that offer because I thought of preclose the loan after six month.

I was told that the loan is deminishing, the interest and the principal amount will be taken from every months EMI. Since that was my first personal loan, I did not have much knowledge about the formalities.

Every month the payment got debited from my saving bank through ECS. After paying 9 months of EMI I planned to preclose the loan. When I approached the branch where I availed the loan, they redirected me to someother branch. There I was asked to write a formal letter for my preclosure. By getting the letter they said I would get a call in three working days from Newdelhi where the head **Thevidiya** bank is located.

I got a call from the **Thevidiya** bank and a **Thevidiya paiyyan** officer spoke to me and asked  the reason for preclosure. Without knowing about the **Thevidiya **bank I simply replied to that **Thevidiya paiyyan** officer that i planned to go abroad hence need to close my loan.

When I asked the balance amount I need to repay to settle the loan, i was terribly shocked by his answer. He said I need to pay Rs 33, 500 to settle my loan amount. He convinced me that it is not advisable to settle the amount at this stage. Pay for another six months only then you will be benefitted by taking the loan.

I argued with him that I have aleady paid nearly 18, 000 in 9 months, why should I again pay the entire amount. It should be  18, 000 + other **Thevidiya** charges. Hardly it should come around Rs 20, 000. Then he asked me to go through the repayment schedule. Till such time I did not aware about the repayment schedule. Then I requested for the repayment schedule through customer support

I received the repayment schedule after making several calls to the **Thevidiya mundais **who are sitting in the customer care. I got terribly shocked by seeing the statement.

They took only the interest for nearly 5 months after  5 th month they have taken only 500 as the principal amount. All to geather they have taken Rs 1500 as principal amount from 9 months EMI. Now only I am realizing that why the **Thevidiya** bank is insisting on the preclosure after 6 months. With in the six months period they will grab everthing from the customer.

Instead of running this **Thevidiya** bank the authorities can hire their wives and sisters to do **Thevidiya business** to get a lump sum amount night after night. **Thevidiya** business is the suitable business for the **Thevidiya paiyyan **authorities who are misleading their customers. I would never ever recommend this **Thevidiya** bank even to my enemies.

Asaidurai

Chennai