[Resolved]  SBI India — Rate of interest irregularity

Address:

Srikakulam, Andhra Pradesh

To
The Chief Branch Manager,
State Bank of India,
Srikakulam.

Sir,
Sub: Customers of SBI code 00919- availed Housing Loan-
difference in rate of
interest in force for the last one year-submitted grievance to
unhappy- problem still pending – reminding for quick salvation-
requested regarding.

We the following SBI Housing Loan customers submit that we have availed Housing Loan from SBI, Srikakulam Main Branch in 2009. The Branch has conducted a Housing Loan Mela in a Hotel declaring the following rate of interests for the first consecutive four years was:

1. 1st year- 8%
2. 2nd year- 8.25%
3. 3rd year 9%
4. 4th year 11.25%

But while we got the annual Loan deduction statement in the month of
March we were surprised to find that the Bank has been charging 11.25% interest from the 2nd year on wards.

Immediately we consulted the Housing Loan in Charge in the SBI, Srikakulam Branch to solve the problem. He stated that such irregularity happened to many a customers so that they consulted the Head office for rectification. Months passed but the problem has not been solved. So we contacted UNHAPPY to place the problem. In turn the reply from the SBI, Srikakulam Branch concerned was not satisfactory and they stated that our loan was not placed under the above said scheme of offer that was announced in the Loan Mela conducted in a Hotel in Srikakalm in 2009.

Therefore we request the authority to kindly pursue the matter and solve the problem to affect the rate of interests that were promised earlier to our HOUSING LOAN at the earliest possible.

Thanking you sir,
Yours faithfully,

K. Ch. Reddy, A/C No.

H. Sreenivasa Rao, A/C No [protected]

B. Madhavi Latha, A/C No [protected]

B. V. Ramana Murthy, A/C No [protected]

K. Govinda Rao, A/C No

K. Syamala Rao, A/C No [protected]
Srikakulam 532001, AP, India