I would like to register a complaint against RAKBANK’s auto-loan department as I feel I am being cheated, since I have received unnecessary charges and the bank is not giving me a No Objection Certificate (NOC).

I applied for an auto-loan from RAKBANK in May 2011, for five years, and an amount of Dh 39,700. My instalment every month came up to Dh827 (so in total, I paid Dh49,620). I paid all the instalments for five years on time. My last instalment was in June 2016.

In May, I called RAKBANK’s customer care hotline and also called after the last cheque was cleared, to make sure the June 2016 payment was my last. They informed me that my loan amount was over and I could visit the bank at any time to get the NOC. However, when I went to see them today, they told me there was an outstanding of Dh375.86.

I called customer care, and they asked me to go to the bank, as they didn’t have any information about this. I went to RAKBANK’s Dragon Mart branch and met a representative. He didn’t have any genuine reason for this and was very rude. He just told me I would have to pay the charges if I want the NOC.

They set the instalments, and asked me to give 60 cheques. Now, from where has this new amount come?

I really don’t understand what to do. Even after paying all the instalments on time, I am suffering to get an NOC. With this sort of attitude from the bank, it seems they will charge any amount of their choice and if we need to get an NOC, we will have to pay.

From Mr Ahsan Raza


The management of RAKBANK responds:

Thank you for your email regarding concerns raised by Mr Raza.

We note that Mr Raza availed of an auto-loan in May 2011 and the interest applicable on the date of disbursal to first installment date was unpaid in June 2015.

On Mr Raza’s visit to our branch, the matter was clarified to him. Subsequently, on an exceptional basis, the outstanding charges were waived and the auto-loan was settled on August 1, 2016. We have contacted Mr Raza and confirmed that his concerns are resolved.

Please feel free to contact us for any further clarification.

(Process initiation: August 2. Response from organisation: August 3. Process completion: August 8.)

Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.