www.Indianmoney.com Is Fraud Lead Company

Dear Friends, 

I run DSA of many banks in Delhi / NCR for property loan (Home Loan & Loan against Property). Market is tough and competition is growing every day. Taking advantage of this situation online companies are doing fraud with DSA of banks. These company's executives calls up Owners of loan DSA, promising them good quality verified leads. But when you credit them for lead amount, their all promises of "GOOD QUALITY" & "VARFIFIED LEADS" becomes dream. 

I want to tell you with my personal experience recently when I took subscription of "WWW.INDIANMONEY dot com". At the time of taking subscription I had told them that we don't do home loan cases which have less then 25 lakhs because of low margin in home loan segment (0.5%) minus TDS which bank deducts at time of releasing payment.. Plus we need to pay service tax quarterly. 

So it becomes almost impossible to do a case where margin is not even 10000/-. Because in home loan we need to go to client multiple times to collect loan documents as at 1 go hardly any client's documents are ready. After submitting file with bank we need to clear pendency’s and again collect documents from client. Need to makes so many visits to advocates to give them property papers and get legal report from advocates. Ditto for valuation of property. Then after sanction of loan, coordinate disbursal documents and fixing cheques needs multiple visits to bank as well customer. Considering number of visits made at bank & at client's place multiple times, almost half of this payout is drained in to convence & communications. 

But this company's people said they will give "GOOD QUALITY" & "VERIFIED LEADS" on multiple times after clarifying my stand that we don't do cases less then 25 lakhs. They assured they will only give leads which meet my standard only on exception basis a lead less then 25 lakhs case may come. They even assured that if a lead which is not doable is allotted can be claimed for replacement. They showed great urgency in getting in to subscription as they said "GOOD CLIENT'S LEAD ARE WITH THEM & THEY HAVE PUTTED THEM ON HOLD SO THESE LEADS CAN BE GIVEN TO ME" 

After making payment to them & getting subscribed from them my nightmare started. Please see what quality of leads they allotted. These all were absolutely third class leads & may be you would not like to speak to such people even they calls up and ask you for loan. Leave aside paying to get number of these people. 

1. sedhu ram sharma sharma 

My Comments -
1.Client's Age Is 63. He Is Retired And Getting Pension. Banks Are Not Giving Home Loan On Pension Income.
2. Client Needs 10 Lakh Construction Loan. His Map Is Not Ready. Will Get Map Prepared 

2. ved prakash 

My Comments -
1. Client Wants To Buy A Flat In City Of Rewari From Builder Unitech. Project Is Not Lauched
2. No Body Knows When It Will Be Launched
3. After Launch Also Payment Demand From Bank Side Will Come After 6 Month. They wanted me to wait for 1 year to speak to him for home loan

3. pawan kumar

My Comments -
1. Client First Said I Asked For Child Plan
2. Then He Said (Oh!- Ok! Tell About Car Loan)
3. On Telling I Called For Home Loan He Said (Oh!- Ok! Tell About Home Loan)
4. What Leads Are These, On Speaking Client Doesn’t Sounds Like Earning 10000/-. It seemed he was paid to listen

4. himanshu kumar

My Comments -
Client Was Busy All Day On 19th June 2013 :- Client Was Busy In Day Time Of 19th June 2013. Asked To Call Later, Then Was Not Picking Phone In Evening

Not Answering Phone :- 2013-06-20 on multiple attempts

5. Suresh kumar

My Comments -
1. Client Not Suitable For Home Loan ( Annual Income 2.5 Lakh)
2. Requirement Of Loan Is 20 Lacs, Totally Misappropriation Of His Income. As This Guy Is Not Eligible For More Then 10 Lacs From Any Standard :-

6. madan lal 

My Comments -
I Called Number Given In Lead 971**97694. They Told Madan Lal's Number Is 981**03711. He Was Buy On 24th May 2013.When I Called Him He Told Following Things1. He Is Property Dealer (Profile Which Hardly Any Institution Does)
2. He Does Not Files ITR (Without Income Proof)
3. Needs Loan For Construction In Badarpur (No Property Map, No Approved Area).While Speaking To Him I Noticed His Language. Actually he was not interested for any loan

7. krishan kumar 

My Comments -
We Deals With1. HDFC LTD - Minimum Case Size 10 Lakh
2. Axis Bank - Minimum Case Size 12 Lakh
3. ICICI Bank - Minimum Case Size 15 Lakh. This Guy Needs 7-8 Lakhs, We Can Not Provide Loan To Him From Any Bank :-

8. afzal ahmed

My Comments -
On Calling Afzal Ahmed He Said His Brother Needs Home Loan.His Brother Is Anwar Husain Number 981**35844This Fellow Stiches Bags. Earns Around 15000/- Per Month. Saves Around 5000/- Per Month From Which He Wishes To Pay Home Loan Emi?Area He Is Planing To Buy Does Not Have Approval Map.Is This A Doable Case? : 

9 r.p.singh 

My Comments -
Client Don't Know What Is His ITR :- Client Wants To Buy Some Shop In Commercial Area. Needs Around 20 Lakhs. He Is Saying He Don't Know How Much Is His Income Tax Return. He Said I Should Assume.Now What Shall I Assume????????????? He Is Telling His Quarterly Sales Tax / VAT Return Is Around 4000/-?Is He Filing 16000/- VAT Yearly. What Is Income??????????HaHa!!Never Mind. I Have Asked Him To Please Confirm His Income As Without Knowing Income Loan Is Not Possible 

Client Is Unable To Tell His ITR Amount After Multiple Calls. I Think He Don't Know What Is ITR. I Asks Him ITR He Tells Every Time 4000/- Quaterly.He Don't Know ITR Is Field Yearly And Not Quaterly. How Can We Do A Case Where Client Don't Know About ITR Figure Leave Aside HE WILL BE ABLE TO PROVIDE?Take My Example - I Need 100 Crores Loan, For My Income, You Take Assumtion. When Indianmoney Can Give Me Loan. Do Let Me Knowfourth Class LeadsI Think Saying Fourth Class Lead Will Be Insult Of Fourth class

10. Randhir SINGH 

My Comments - This Person Has Booked Some Flat His Wife's Name In Under Construction Project.He Wants Loan To Be Taken In His Wife's Name. He Don't Want His Name To Be Clubbed For Home Loan.His Wife's Income Is Not Sufficient For The Amount Of Loan He Wants. How you can how loan to such person 

Dear Friends it shows that these were poor quality leads. And they were not verified. 

It is unfortunate to say non of leads given were worth speaking to. I will not speak to such clients for free also. 

While subscribing to them I had made thing very clear that we don't do cases below 25 lakhs disbursal as they are not profitable due to very low margin in home loan. I was assured only on exception basis such case will be given. If cases are being given which are 

· not doable, 

· low ticket size, 

· needs to wait to 3-4 months to speak for home loan 

While taking subscription I was promised leads of certain minimum quality. Leads which were coming are absolutely wastage of time. To take all those numbers why pay when you are not sure of certain minimum quality. May be somebody is just asking for loan & Number is passed to us because we are subscribed for your service. Where is checking of following? 

· What is client? 

· What is requirement? 

· Is client suitable according to his requirement as per his financial or technically (Technically - Property he is talking about is doable)? 

· Are we serving client's requirement (area and ticket size)? 

IF NOT? Then we can pick up 1000s of number from unlimited classified on internet quikr, olx, clickindia,click.in or unlimited other classifieds, where clients are genuinely looking for loan. I will speak to them, that they are in need of loan.But my question is - "Are they eligible or time waste"? Because only after speaking to 100 such customer there will be only 5 suitable clients and only 2 business will be converted. Plus to do all this exercise my whole month will be wasted.(Which I can not do) 

If I am required to do all 4 above said checks then why pay? Because kind of leads which are given, WE AS ORGANISATION DON'T SPEAKS TO SUCH PEOPLE EVEN FOR FREE 

After making so many follow-ups on phone & updating their CRM no lead replacements comes. Actually I never want replacement of such leads. As already wasted 1 month, I don’t want to waste any more time because these are fraud companies and will give only fake leads. So many times I called and sent mail, they don’t reply. So be cautious of Indianmoney. They are fraud