Bank Of India — Complaint against Bank of India for lack of communication, arbitrary interest rate increase, and loan account mismanagement

Address: Chennai

Respected Sir/Madam,

I am writing to formally lodge a complaint against Bank of India regarding the extremely poor communication and mismanagement of my loan account.

I am an NRI customer maintaining a home loan account with Bank of India. Despite my repeated attempts through emails and phone calls, I have received little to no response regarding the details of my loan account. Out of numerous attempts to contact the bank, I receive a response only once in about twenty communications, which is highly frustrating and unprofessional.

A few years ago, the loan balance was approximately ₹16, 00, 000, but it has now increased to around ₹21, 00, 000. Moreover, the interest rate appears to have been raised without any prior communication or consent. I was never informed of any such changes in loan terms or reclassification of my account.

During the COVID-19 pandemic, when the RBI had announced moratoriums and relief schemes for borrowers, I had specifically requested these relaxations from the bank. However, no such benefits or assistance were provided, despite multiple follow-ups.

Recently, I was also informed that my loan has been classified as a Non-Performing Asset (NPA), again without any official communication from the bank. I believe this classification and the additional interest charged under NPA status are unfair and must be reversed, as I was never given proper notice, explanation, or opportunity to rectify the situation.

This lack of transparency and failure to follow RBI’s communication and customer service guidelines has caused me severe inconvenience and distress. As an NRI, it is already challenging to manage banking matters remotely, and such negligence by a public sector bank is unacceptable.

I therefore request RBI’s intervention and necessary action against Bank of India for:

Failing to provide timely and adequate communication to the customer.
Arbitrarily increasing the interest rate and loan amount without prior notification.
Ignoring requests for COVID-19 banking relaxations announced by RBI.
Misclassifying my account as NPA without communication.
I request the removal of the additional interest and penalties charged due to the NPA classification.

Loan Account Number: [protected]
Branch Name: BKID0008023
Registered Email ID / Contact Number: Kavitha.[protected]@gmail.com / [protected]@gmail.com
Customer Name: Kavitha Chandrasekar
Country of Residence: Ireland

I sincerely request your prompt intervention in resolving this matter.

Yours faithfully,
Kavitha Chandrasekar

19, Shackleton wood,

Lucan, Dublin, Ireland

[protected] /[protected]