[Resolved]  State Bank of India — Higher rate of int by sbi

Address:Ramgarh, Jharkhand

Acct No [protected] Product:T L Educational LoanPER Customer Name:Ramesh Hazari I am repaying the above loan after the specified moratorium period(Loan Start date:15/06/2007) i.e 28/06/2012(after one year of completion of course) on the regular basis.The rate of interest is being charged as 14.75% per annum.Simply to robe more money no communication was made regarding payment of interest incurred during the moratorium period.When I started to repay the loan, bank officials started to telling about the incurred interest.They created great deal of inconveniece.They demanded twenty five thousand five hundred rupees first.When I deposited the amount, they demanded another forty two thousand five hundred.It was shocking and inconvenient.Anyhow I paid this, they asked to pay another six thousand rupees(approx).I was not expecting such unprofessional behaviour from SBI officials. But this was not the worst.When I started to repay, I was told that emi is rupees five thousand hundred(approx, exact value was lower than 5800).With the start of year 2014, I am getting sms that my emi is rupess seven thousand four hundred twenty only.Add to this my saving bank account [protected] has been obstructed.I don't have any transaction right on my account(since feb 2014 or so).Though I don't have any legal binding to repay the loan related to account [protected]. So I want the possible explanation on charging higher rate of interest 14.75% as against 13.5%(existing sbi edu loan rate).Even in one account statement I can see 14.45% and others one having 14.75%.I can tell you that I am really losing my patience on this issue. Regards Rohit
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Aug 13, 2020
Complaint marked as Resolved 
State Bank of India [SBI] customer support has been notified about the posted complaint.
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