Mobikwik App
- Fraud Mobikwik boost loan Open
Dharmendra Bisht filed this complaint against Mobikwik App on Nov 13, 2019
I was getting a Mobikwik Boost loan offer of worth Rs.**,***/-. I was in urgent need of some cash and the way it was presented I found this offer so attractive to resolve my financial need, so I went for it. On the initial page, there was very limited info, the interest per Rs.**** was just Rs.**.**/- (applicable on the amount I withdraw). Which was attractive and affordable for me. I went for it and completed all my formalities.
I was disparately looking for some on-call support or chat and unfortunately, they don't have any support number and just some robotic answers on chat.
Before the final acceptance, there is no monthly EMI breakdown. Even on the portal (https://www.mobikwik.com/loans/emi-calculator)the interest for Rs.***,***/- is just Rs.*,***.**/- ** months, which is very affordable for a middle-class person. (screenshot attached) And this led me to make a huge mistake.
So when I didn't find any help I clicked on proceed (the final step) hoping Mobiquick is a well-known brand and won't make fool to their users. Ultimately, the moment I clicked on proceed it opened me the EMI chart and interest rate, which was very staggering for me. I was shocked when I calculated the interest I would be paying for ** months and realized I have been fooled by Mobiquick.
The approved loan was Rs.*****/-
Transferred to wallet Rs.**,***/- (after file charge and some pre-EMI of Rs. *** deductions)
With the monthly EMI of ****/- I was paying a total of Rs.*****/- in ** months. That means the interest amount is Rs.*****/-
After all when I was trying to transfer the money from wallet to my back there are additional charges.
Now the question is:
Do you really think a middle-class man can afford this interest?
Why the Monthly EMI was not shown before the final submission of the loan application? if it had there I would have not applied for this.
Being a well-known firm, why you don't have any phone support or proper human chat support to discuss these things?
Are you brand?
Are you Lawyer?
Resolution Demanded:
Replace / Fix problem
Mobikwik App
Resolved
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