Please beware of Incred Finance and do not take any loans from them. After receiving the NOC (No Objection Certificate), they withheld my ₹₹323,889.94, lakh payment and are refusing to release it. Even after 22 emails, I have received no appropriate response. I have attached images for your review. There are many hidden charges that they never discussed during the loan processing. Pre-closure charges are 5%, and the interest rate is between 24% and 26%.

I repaid the loan on January 8, 2025. After several escalations, they closed the loan on January 10 but have not unlocked the payment method. They have now withheld ₹3.23 lakh and are refusing to release it, only manipulating the complaint.

Furthermore, they lock your payment method with Amazon and begin collecting payments with no process to transfer the funds. Even after receiving the NOC, they refuse to unlock the payment method and continue collecting payments.

Do not take loans from Incred or any of their lending partners; otherwise, you may feel like you have been defrauded.

I urge Amazon to take strict action against Incred Finance and block them from their lending platform because Incred Finance does not adhere to lending policies. According to Amazon's policies, the payment method must be unlocked within 24 hours of issuing the No Objection Certificate, and lenders should not deduct any further amounts. If they do receive any further amounts, those funds must be transferred to the merchant's account within 24 hours.

I will take legal action against Incred Finance Services for fraudulent activity this type of activity comes under Cybercrime in India is primarily dealt with under the Information Technology Act, 2000 (IT Act), along with relevant sections of the Indian Penal Code, 1860 (IPC). Here are some key sections:

Online fraud: Deceiving individuals online for financial gain, such as through scams, fake online stores, or investment fraud.