State Bank Of Hyderabad — Car Loan A/c [protected]

shellydhawansuri

from Noida, Uttar Pradesh

Address:	New Delhi, Delhi, 110077
Website:	www.onlinesbh.com

Dear Sir/Mam,

I took car loan from State Bank of Hyderabad, Chandni Chowk Branch in Aug'2010 for 5 years for 4, 32, 444/-. I diligently provided them PDC's for entire loan period and this is clear from the sequence of cheques against which the payments were made.In Aug'2010 the loan got finished and I contacted the branch for a NOC. The bank did not respond for long and then sent me a message to pay 75, 000/- towards loan closure. When I called the bank many times, they bank staff Mr. kalyan admitted that the bank made an error and that 2nd year onwards the instalment had to increase which they failed to do . As a result a sum of 75, 000/- accrues including penalty and principal amount that I have to pay inorder to close accounts.

Hearing this, I was very furious and demanded a resolution. Aftyer some weeks, I was intimated verbally that no resolution can be provided.Again, I was the only one calling the bank, they showed no apology and did not take remedial actions.

I complained to banking ombudsman ref [protected] in Nov'2015 but again the said authority basis the investigation did say that the bank made a fault however no constructive resolution was provided to waive off the huge amount of 75, 000 as on Sep'2015 and this figure continues to increase as the penalty portion is just getting added as time is passing.

After the Banking Ombudsman made their decision, I have contacted the bank a several times but all my efforts are in vain and there is no one at RASMECC(Karol bagh) or Chandni Chowk branches who is ready to take responsibility to resolve the matter. A mutual resolution convenient to both sides is not being worked at by them. They fail to respond to all my emails and I visited them in September'2016 and met Mr. Rajesh Kumar Pandey at RASMECC(Karol bagh) and based on discussion with him had requested bank to provide a mutual proposal as this fault is clearly the bank's fault.

I wish to draw your attention to the Code of Banks commitment to customers -January 2014 issued by Banking codes and standards board of India whereby it clearly states under Clause 3(Information-Transparency) Subclause 3.3.1 Changes in interest rates as follows,
" We will inform you of the changes in interest rates on our loan products and changes in the reference rate to which the floating rate of interest is linked within a fortnight of the decision by any of the following means i)Letter ii)Email iii)Sms". That as per aforesaid the bank officials are liable to clearly communicate any changes in reference rate and new instalment amounts which was never communicated to me in the entire tenure of the loan.I kept giving payment on time and the bank officials from time to time demanded PDC's that were also submitted within the deadlines and thus I have been having a good track record with the bank throughout.

Please intervene and get the matter resolved at the earliest so that a NOC can be issued to me and I particularly do not want my CIBIL rating to get affected as this is the bankers faiult.

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State Bank of Hyderabad customer support has been notified about the posted complaint.

Feb 22, 2017

Updated by shellydhawansuri I have also complained to Prime Minister's office vide registeration number PMOPG/E/2017/0106474

Feb 22, 2017

Updated by shellydhawansuri In addition to the complaint registered with your esteemed office, I want to add and request the bank to advise on following pointers,
1. The loan ended in Aug'2015 and till date(almost 2 years now), despite repeated reminders and trials from my end the bank and its officials have failed to take any concrete resolution . Though the bank admits that it was their duty to inform the change in rate of interest / new installment amount which they did not provide. Why a customer should be penalized and charged exorbitant penalty/interest and principal for the mistake committed by bank. Is it justified in law and as per banks'code of conduct?
2. When I asked them to issue me the statement of accounts, firstly they sent me statement of accounts of some other customer and later they sent me incorrect statement . How does bank justify their act on privacy related to loan accounts. Is this not a compliance issue?
3. I am a service class person and visited bank after taking annual leaves from my place of work to meet the officials of the bank . I met Mr. Rajesh Kumar Pandey at RASMECC(Karol Bagh) in September'2016. His actions and speech both confirmed that he was least interested to work towards the resolution. Despite acknowledging that this was a bankers fault, he assured that he will work towards resolution and get back in a week's time but unfortunately till date the problem stands unresolved.
4.I am certain that the real picture has not been communicated to higher officials and banking Ombudsman related to my matter from the banker's end as a result no resolution could be worked out by anyone in State bank of Hyderabad till date.
5. My car's value is depreciating each year and as a result of bank fault and I am not able to sell it till date .Would like to understand that how will the bank compensate my loss.