Andromeda Marketing Pvt Ltd / Processing fee waiver (A good marketing gimmick of andromeda)
I had been contacted by M/s Andromeda to get my Personal Loan Balance Transferred via them at a special reduced rate of 11.49% and a nominal processing fee of Rs999/- . The offer seemed attractive and I applied for the same. However, during negotiations the concerned bank (Citi Bank) offered their best rate @13% & processing fee of Rs10000/-.
Initially, I declined the offer. However, Mr Aziz Shaikh (so called 'executive' of Andromeda handling my case) persuaded me and requested that his personal reputation was at stake and thus kindly do not decline the offer. He offered that Andomeda shall reimburse the processing fee. He went even further and promised to reimburse the processing fee from his personal account in case his company Andromeda did not.
The Citi bank kept their words & the loan has been disbursed @13% after Rs10000/- processing fee deduction by the Citi Bank. Two months have passed and there is faint hope of processing fee reimbursement from Andromeda. The 'Executive' Mr Aziz Shaikh has a large collection of excuses for non-payment of processing fee. Now-days, he even does not pick up my phone calls.
Going by the posts made by other senior members, I understand that this company M/s Andromeda is constantly innovating new marketing gimmicks to fool customers.
I am a well-to-do person. I do not intend to spread any negativity, however this post has been made to forewarn the potential scapegoats of M/s Andromeda & allied companies. Please make due diligence & exercise your discretion before getting swayed.