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Dunia / unjust loan interests

1 United Arab Emirates Review updated:

I would like to complain regarding dunia's very high interest on my loan amounting to aed12000 payable in 3yrs. I originally wanted to pay for 1yr only due to big interest for 3yrs payment but their agent-abigail topacio told me that they require 3ys initial computation for new loans but dunia will recompute the interest into 1 yr if I can pay it in 1yr... I have been paying for 10months now which is already aed5740 and I wanted to settle everything as I need to go back to philippines due to health problem but now dunia is saying that I still need to pay below.
Aed10114.48 - remaining principal + aed1250 - early settlement fee whic was never mentioned when I applied the loan.
Total due - aed11364.48 if im going to add the aed5740 which I already paid for 10ms it means that my total payment is aed17104.48. which means the interest of the 12000 loan is 5104.48 in less than a year.
I have tried to speak to their customer service but all they are saying is - it is the mistake of their agent and they cant do something about it.
An you please help me on what should I do with this? I dnt want to leave any oblogation when I go home but I think what they wanted me to pay is not within the interest set by law of uae. the remaining amount is so high that my fund is not enough to setlle especially now that im on medication.

Would highly appreciate to hear from you soon as I need to go home as soon as possible

Thank you and more power to you.

Brgrds,
Miriam ibarra
Mail - yamibarra@yahoo.com

  • Romy Fernandez's Response, Sep 26, 2018

    Dunia finance is making money cheating peoples, so many peoples suffering with this peoples, atleast
    some Government authorities should monitor and control these people. illegally there are making money from peoples.

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Comments

  • Ts
      22nd of Jun, 2011
    +4 Votes

    Dunia is a cheater and they dont have early settlement option its adebt trap for any debtors w/ a lot of goons collectors who will ruin your work and just mock you treating you badly like they owned you.

  • No
      14th of Aug, 2018
    +1 Votes

    @tsinitabeth Sooner or later, this company will crash. They think they can keep fooling people and sucking their blood. My credit card limit was AED 2, 500. Suddenly they claim that my limit is AED 4, 000+. How? I have not used my card for more than a year and now they claim that I have to pay some 13, 000...How?!!! I have al the receipts and I must have already paid over AED 10, 000 for a limit of AED 2, 500!!! I will confront them in court...I am not afraid of the emails sent by someone called Rauf who keeps threatening...I will prove to the judge that they have already taken from me folds and folds of the credit limit. This is an open letter to Rauf: YOU DO NOT SCARE ME!!!

  • Ha
      14th of Oct, 2014
    +4 Votes

    They are horrying and terrible finance !!! they should'nt be excisting in Dubai, I will gain people troops to fight this Dunia and stop them from fooling people around, . I had close my account and been charges still monthly for their ###ing hidden interest charges!!!

  • Sa
      30th of Dec, 2014
    +8 Votes

    They have 3 kind of people there. One a threating guy from abu dhabi named mohd. then they have collections who are polite to ask for payment in case we have missed some or arranging some settlement. Than again after paying the amounts, account will be handed over to another collection person without solving the prior issue and they'll follow up again for payments and promising some solution. What happens is that they'll propose to convert your card into load at a lowly rate of 39% so you end up paying double or triple the amount over the next 3 years. THEY ARE BLOODY MAFIA and Central bank should take action against them. If i had known about this i would never had taken a single penny from them.

  • Sh
      24th of Aug, 2015
    Best Best Advice +9 Votes

    I also agree I also have finance from dunia finance I paid for 1.5yr know I am jobless I try to inform them that I need time to pay as I have no job they are so rude & saying we can u have to pay this amount or do full settle what kind of me behave is this

  • Rc
      1st of Sep, 2015
    0 Votes

    I would be happy to know the result of this complaint. Was it taken care of?

  • As
      22nd of Nov, 2015
    0 Votes

    yes guys you all are right, don't know how the government is sleeping, this is Islamic country, they should not allow such interest, but many people have said this belongs to some sheikh that why there is no action.
    very bad. one thing more they have abusing languages specialist who doesn't respect ladies.
    May dunia take actions and kick like these people out of jobs and make them beggars on the streets.
    one more thing they have started, if you get late in one installment, they will send you e mail from legal, like we have taken millions and not paying for months, this is very bad management, dunia its self is good fro people who cannot take from banks, but the management is poor.

  • An
      5th of Dec, 2015
    -2 Votes

    Dunia finance is cheating people and making them pay 5 times more than actual amount. my credit card was 2500 and I was regularly paying for 6 month, 500, 400 aed and so on, and after all this time outstanding balance is over 3000!!! they are cheaters, please, never deal with this company, it will turn your life into hell!!

  • As
      6th of Dec, 2015
    +2 Votes

    yes my friend you are right, but i don't understand how the Government has allowed such thing in UAE.
    its really surprising, Any ways we love Shaikh Mohammad and Shaikh Khalifa, thats why we are here, but we should join hand and sue this company, one thing more to be noticed is, they issue you a credit card of 5000 or 10000, but in the central bank they have taken approval for 100000/= it was confirmed when i went to central bank, they told me dunia has given you 100000/= dear friends see the way they are damaging your credit facility.
    May God help all of us. Ameen

  • Na
      15th of May, 2017
    0 Votes

    @Asaad Same thing happen... i took out loan and they said there is a free credit card even i don't want to take it but they insisted... in the SOA its 2500aed credit limit but when I tried to took a loan from other bank I only found out that in Bureau it was for 50000 credit limit...it took me almost 3months to cancel my loan and credit card with them...

  • Ka
      6th of Dec, 2015
    +1 Votes

    My colleague Mr. Renjith Vidhyadharan had unfortunately taken one of the Dunia Credit Card with a limit of AED5000.

    He managed to only pay his minimum instalments every month until he defaulted for about 3 months. Without informing or asking him why the payment was not made a case was initiated at the Muraqqabat Police Station. He had to fly home on a family emergency and at the airport he finds he has a travel ban on him. There is something called as a professional courtesy where you will need to inform a defaulter of his Police case and Travel Ban.

    The outrageous part is that Dunia decided to fill in the blank security cheque that Renjith had given, with an amount of AED100, 000 along with the case. The only outstanding amount with the bank was AED17971. I don’t understand why Dunia would do something like that.

    When my colleague was taken to the holding at the police station, our representative paid the entire outstanding amount directly at the Dunia Office in the DOZ.

    The clearance letter was delayed by 2 hours after the payment which caused the police to move my colleague out of holding and to the Aweer Jail. He has been there since 19th of November and can be released only on 6th of December because of the incompetence of the staff at the DOZ office. The manager had said that the Dunia Lawyers will release my colleague from court.

    We pleaded to the manager to get the paper in time so that we can release him but the display of attitude was overwhelming and this is after we made the payment.

    Even now my friend is in jail because the lawyers havent submitted the clearance papers for his release.

  • As
      7th of Dec, 2015
    +3 Votes

    May God release him soon, many people have been damaged by them, They don't care weather you are a lady or young boys, they just want money, as if you heard they are basically money lenders on interest, usually people call them sooth khor, here in UAE they started the same business but in a white color way,
    but doing the same. May be one day the UAE laws will catch them, I gave them a good hit in they back, because i know the laws, people who don't know are in trouble. Just keep cursing them, one day they will be cursed. Ameen

  • As
      7th of Dec, 2015
    +3 Votes

    guys who want help to face this dunia finance.
    e mail me on sasaad300@gmail.com
    because what they are doing is Haraam and i being a muslim is against it.

  • Sh
      3rd of Jul, 2018
    0 Votes

    @Asaad Dear Asaad

    Can you help me shikha.ahooja@gmail.com

    I have huge issue with Dunia Finance

  • Jv
      3rd of Jul, 2018
    0 Votes

    @Shikhakapoor Hi Shikha, do you have mobile?

  • In
      16th of Jul, 2018
    +1 Votes

    @Asaad Dear asaad,

    Dunia file civil case also????

  • Ne
      31st of Jul, 2018
    +1 Votes

    @Shikhakapoor Hi @Asaad, could ypu help me also, I have a problem now with Dunia, and the worst thing is they always send someone to my office, I believe this is harrasment already

  • Mo
      14th of Aug, 2018
    +1 Votes

    @Shikhakapoor Hi sir can you be able to help me with this company, I ve been paying them for 4 years and their agent told me that it was only 2 years.

  • Mt
      28th of Aug, 2018
    -1 Votes

    @Shikhakapoor Bro am not interested to pay anything for dunia now almost 5 months can someone who very recently went thro casefile tell me how it works...plz very recently meaning from these few month before August 2018 Only

  • Ma
      14th of Oct, 2018
    0 Votes

    @Asaad are u still helping people with dunia problem, you're email id is not working

  • Lo
      14th of Oct, 2018
    0 Votes

    @mariiii I tried to contact him as well

  • Ph
      21st of Dec, 2015
    +2 Votes

    Asaad how are you going to help someone who has problem with Dunia Finance and with their rude collector?
    I myself is facing problem with them as they are harassing me because i have 1 late payment.

  • Tu
      23rd of Dec, 2015
    +1 Votes

    what to do now? they deposited my cheque due to 1 payment unpaid. :( and its aed. 100, 000 i never take that much money from them. please need advice.

  • As
      23rd of Dec, 2015
    +1 Votes

    dear friends,

    its very easy dealing this bad company named dunia finance, actually they have hired all Indian, who only need commission on recoveries. even if there is no recovery they transfer the case for a police complaint, and they get commission for this also. All you need to do is keep 5000dhs in your pocket and if you have a passport keep with you.
    but 99.9% you get fine, so don't be afraid of these rascals, just present your self to police, police will leave you free on your passport, then the day of court go in front of the judge and present the documents and tell that sir this is what i had taken, you will get fine 1000 to 5000, pay there and sleep with rest.

    regards

    Saad

  • Na
      3rd of Jan, 2017
    +1 Votes

    @Asaad Hello Mr Saad.
    After you pay the penalty to the judge in court what will be the next step we will do or dunia will do?
    Thanks. Nardo

  • Ne
      29th of Dec, 2015
    -2 Votes

    Any other alternative other than Dunia Finance? Recently, I got my salary transferred to ADCB (SimplyLife) but they said I have to wait for the completion of one year before they could process my personal finance application. Still 2 more months to go before that 1 year is completed, but I urgently need to apply for personal finance due to requirement back at home.

    My company is only listed in ADCB (SimplyLife) and FGB. Where as from FGB I got the response that for my Nationality the salary should be 10K aed / month, where as mine its just 7K aed / month. What to do now?

  • Th
      5th of Jan, 2016
    -1 Votes

    I hate Dunia Finance and if i could I would completely shut down their whole BUSINESS.

    I was so incredibly naive they have taken that a an advantage and completely turned my life upside down for over a year! and more years to come unless I pay this off soon with INSANE INTERESTS!!

    I lived in Dubai my whole life, born and raised. Never had a bank account and never learned anything about credit cards and ect. I was always provided money by my parents.

    Since my parent have now retired and I'm in Dubai starting my career, I needed a bit of money for the holidays. I didn't want to ask anybody for money or anything. I ended up deciding that I wanted to take a tiny amount of 10k from Dubai Finance.

    I got in touch with a Dunia Finance Sales person and they told me the minimum is 15k, but then I was informed I could only take 20k during the supposedly "final stages" of my applications.

    When I finally received the amount, I read the letter stating it was 39.99% interest for four years, PER YEAR! I was shocked. When I was informed it was only 39.99% in total of the four years. In fact, I initially only wanted it to be 1 year or at least 2!! and I got 4!!!

    Needless to say, I've paid them back over 10, 224 for the past year now and am yet to pay them 30, 672 which brings the total to: AED 40, 896 I need to pay. 159.96% interest for the 4 years. the original amount provided to me is AED 19, 500. Time for you (the reader) to GASP!

    On top of that, they recently tried to deposit the security check I gave because during the new year, they tried to take the amount required on the 3rd (which is usually on the 1st), but I was 28FILLS short.
    They called me that same day and asked me to deposit the money, I told them there was a sufficient amount till I found out of the missing 28 fills which I then quickly added more money to my account. After I added more money to my account, THEY TRIED TO DEPOSIT THE CHEQUE! which then lead my bank to deduct AED 100 as a "cheque returning fee" and left me with AED 770 of the original AED 870. THEN THEY TRIED TO DEDUCT THE AMOUNT AGAIN !!!

    I couldn't believe it. I was stunned. I can't believe how insane on how these companies work.

    Then there is the collections department... My idea of these people: They are like wild dogs barking at you. They called on the 3rd of Jan (the same they they tried to deduct the money) and they acted as if I didn't pay for weeks!!! Unbelievable how disgustingly sad and pathetic their lives must be to work in such a department to be trained to bark at people like that. They may be good people but to seriously be so rude like that is unjustified! Sadly it was also my birthday.

    I admit I am so naive and I would expect all the trolls to comment on how insanely dumb I am. How stupid it was for me to get myself into this in the first place.

    I urge everyone to never ever borrow amount from banks especially from these people or anyone! Even if your life depends on it. There are many charitable societies that can help you if it really does mean your life depends on it or if it is for any reason like mine, (which was to buy presents for christmas) DONT EVEN THINK ABOUT IT.

    You should not have the need to think twice about borrowing money from the bank, not after reading this at least. Don't even think about it.

    Sincerely,

    The Dummy

  • As
      5th of Jan, 2016
    +2 Votes

    hi friend, you are not dump, theses people are playing smart and also fooling the uae government, the history says that dunia finance belongs to people who all their live have eaten interest work, means lending poor people money and taking back all their hard earning with pressure known as interest. The best way to deal them is through court, if they bounce your chq let them go a head, because 99.9% dubai court gives you fine, which starts from 1000 to 4000.

    regards

    Saad

  • La
      8th of Jan, 2016
    0 Votes

    After reading all thia comments, I believe its about time to stand up and raise a complaint against this evil dunia finance. Dunia doesnt care. Dunia doesnt understand our needs. I, myself is also a victim of this unreasonable unjust procedure of dunia. In 2012, i took debt from dunia for 39000 aed and agreed for a monthly payment of aed 1669 for 4 years. Since theybalso offered a card, i used it somehow for cash advances to pay my monthly installment in dunia until i got trapped and cant pay at all. Dec 2014..they offered comsolidation for my debt and card and I agreed to for a monthly payment of 2424 aes monthly in 7 years just to.stop the harrassment. But same month of dec2014 in the middle of.consolidation.they submit thw blank check inprovided them and write 55000 aed and it bounce. Year 2015 from february, i started paying 2424 aed minthky and after 3 months ..i always pay late bec of finance crisis. Sept 2015 instarted not to pay and i always have 2 months late paynent before i can pay again. November 2015, me and my boss went to their.office for a restructure request because i want to pay religiously. I agreed to pay 1600 monthly and when the called me on 2nd week of nov..they said, the amount approve is 73000 and need to pay 2033 monthky for 6 years. I did not agreed bec i.know thia will still be a problem i told them to be considerate. Nov 21 2015, i did not know they filed a case and put that bounced cheque of 55k to the rashidiya police. The account number used is the account number of the new debt. I just know this when i present myself to the police and took my passport. Then for all i.know that if i agreed to pay that 2033 aed monthly..they will released my case. I paid 2033 aed last jan 4 2016 and unfortunately, it doesnt help fornme to get cleared. They want me tonpaythe whole.amount of 74999 or half of.it plus a blank cheque from a guarantor. But this time i dont agree to put another life in danger. I just pray for.justice and i hope this letter will.reach His Honorable highness Shiek Mohd Maktoum and help us with this. From. Homesick Mother

  • Na
      3rd of Jan, 2017
    0 Votes

    @LADY G0620 Hello can i know the result of your case until this date? I am interested to hear and will helpful to me. Thanks.

  • Be
      13th of Jul, 2017
    -1 Votes

    @Narbags Hello, i am currently experiencing the same. What happen to you, did you go to jail? Thanks

  • Ne
      8th of Jan, 2016
    -1 Votes

    Is it ok to go for dunia finance when I am sure that I will be able to pay the money on time on monthly basis?

  • Sh
      11th of Jul, 2018
    0 Votes

    @Neil194 What stupidity you are talking about. Taking a loan with interest rate of 39.96% is Ok ?

  • La
      8th of Jan, 2016
    +1 Votes

    Hi Neil,
    Be careful. The bounce cheque will be used someday for them to file a case against you if you have default payment.
    Even you are in the middle of consolidation, they will still present the bouce.cheque to police so you cannot go out of uae. Ask asaad the best thing to do.

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