Home loan applicant claims he was cheated by finance firm employees

BENGALURU: Employees of IIFL Home Finance Ltd are allegedly collecting documents from prospective home loan applicants and cheating them after borrowing money in their names in Shivajinagar.

Preetham, a customer, was contacted by the firm employees Giridhar and Srinivas regarding a home loan. To his shock, though his loan was not approved, EMI of Rs 13,000 was deducted from his account.

Preetham claimed that after completing the documentation, even though he was eligible for the loan, the firm employees rejected his application saying that the documents were not correct. They had even taken Rs 1,42,000 to process the loan. When he inquired how EMIs were being deducted when his application had been rejected, he came to know about the scam.

Preetam, the customer.

Preetham had applied for a Rs 21 lakh home loan. Under various heads, including the first EMI of Rs 13,000, the firm employees had collected Rs 1,42,000 from him, he claimed.

Another customer, Veeresh, complained a high value insurance policy was taken out in his name that without his consent.

“The firm employees took a total of Rs 1,42,000 for approving the loans. Now, the EMI is also being deducted from my account but they are telling me that the loan won’t be approved. I cannot take a home loan from any other bank. I asked them to return my money and cancel the loan, but they are not doing so. The senior officials of the firm told me that they will call the two employees and settle the matter. If they do not do it soon, I have decided to lodge a complaint with the police”, Preetam said.