Sbi: additional interest is imposed on saving a/c

Hey Dear 

1. First of all you collect your both accout hard copy( loan statement / passbook)

2. when you entered loan cotract with bank any document photocopy you have? see interest term condition how they charged

3. there is no any human mistake when in 21 century in your loan a/c interest remain in calcluting.

4. there is no any such power  to branch manager without  inform / notice you  collect fund in negative balance.

5. if you pay all funds with interst then all such evidence remain in your hand.

6. you justify that you are right you also complain in banking lokpal at ahmedbad for all over gujarat ther in no any huge process here they listen you brifly.

8. always remember that a consumer is king in all over market(goods/service).

7. now mostly you compansacted for banking service defeciency  file in consumer protection act for get more compansation.

Form

Girish Patel

girish_kca@yahoo.co.in

Surat

 You may demand in writing under acknowledgment:

-Mathematical formula of calculation of interest, reducing basis. Even if the BM states that it is computer generated statement, you may insist and persist upon getting the formulae used for all calculations in your a/c(s).

If the BM resorts to verbal deliberations you may stick to written communications and minute all representations. You can even demand to put a reference/diary number to all of your representations. From the second representation you may escalate to nodal officer and chairman of the bank and if the need be lodge a grievance in concurrence to citizen's charter. You may mention that each representation does not come free to you and costs you your hard earned monies and precious personal, study, business hours and you may fix a cost to all representations e.g. typing charge, photocopy charge, traveling/parking expenses.

-certified copy ( not photocopy) of loan application, loan agreement signed by you. As per RBI guidelines bank is under obligation to supply these to you free of cost.

-Loan a/c statement, SB a/c statement.

-Having issued the NOC bank can not collect cash from your a/c. It is felt that generl lien's becomes defunct and bank has to submit a communication in writing under acknowledgment stating human error and proof of wrong calculation and ask for your concurrence. Kindly check if bank has expressed power general lien in loan agreement/application signed by you. Instead of begging apology in writing bank and its staff has committed an illegal activity.

The bank has failed you act in a fair manner and has resorted to unfair and illegal practices. You must demand the corresponding guidelines and rules of bank, RBI, IAB, and Bankers’ Fair Practice Code of Indian Banks’ Association and ‘Code of Bank’s Commitment to customers’. vide which bank has acted to justify its action. You shall positively hear from nodal officer, chairman of the bank.

-The negative balance in your SB a/c is caused by bank and bank is responsible for repercussions.

You may record (audio/visual) while bank staff i.e. loan officer/BM accepts that they have not issued any communication in verbal/writing to you regarding the human error being drummed by them now.

No a/c can be opened without signature of the customer. You should first obtain a/c number, a/c statement and then demand certified copy of the a/c opening forms. You are not liable to pay any penalty for any justified amount which is not due to wrongdoing/error at your end.

Even in case  bank claims that the interest a/c is a no frills a/c  you may note that:

 “F) ‘No Frills’ Account

A No Frills account can be opened either with ‘nil’ or ‘very low minimum’ balance. The

charges applicable for various services/ products in such an account would be in a

separate Tariff Schedule. The nature and number of transactions in such accounts are

restricted, which will be made known to customer at the time of opening of the account

in a transparent manner.”

Bank’s local staff is at fault for not supplying you any communication and then collecting cash from your  a/c without your consent.

IBA, RBI, BCSBI has clear cut guidelines.

You may go thru the same.

You may demand a written apology and shrug off the human error. The bank is not working with a manually maintained bahikhata like a  sahukar.

Wish you all a very happy new year 2012. Thanks a lot guys for your valuable inputs.

I requested for account statements and spoke to bank officials to get clear cut information on same.

What they are telling that:

There was an activity happened with in the bank in 2006 where in they separated principal (main loan acc) and opened a new interest account.

This interest account was containing the interest amount for the period of 2001-2005 (on principal) but they did not convey the new interest account number or any such balance to me.

Now as there are two accounts:

Primary: containing the borrowed principal up to 2005 and interest was getting charged on the same.

Interest account: containing the interest amount for the period of 2001-2005 (on principal) and interest was getting charged on this also but very minimal.

As I was not aware of any interest account, I kept paying the loan of primary loan account the same was completely paid, closed and NOC also issued by the bank.

At the same time they missed out to claim charges of interest account while issuing NOC on primary loan account.

As this was fault from their end of

-         to not club primary and interest account together and ask to repay complete amount.

-         To not send any communication about another interest account since beginning of 2006.

-         To not inform me to re-pay the interest as well while issuing NOC on primary.

To save their collar, they imposed charges of this remained interest account on my personal saving account and let the balance went in negative.

Now I understand that I am liable to pay this interest amount but at the same time; is really this way correct to collect interest charges which they missed out to collect from me earlier and issued NOC on Loan’s primary account.

Again thanks from bottom of my heart for your valuable comments.

Regards,

Ashish

You should ask them to write everything which they are telling and after receiving everything in writing and all documents as suggestsed in this post you may take a qualified decision.