[Resolved]  Citibank — debit of excess interest on personal loan

Address:

Hyderabad, Andhra Pradesh

I have availed a personal loan from Citibank NA on 22 March 2013. I have signed the ECS Mandate form along with the contract on 22 March 2013. The first EMI was due on 01 May 2013, but the EMI was not debited from account on the desiganted date eventhough adequate fund was there in my account. I have contacted Citibank customercare and they informed that wait till another 02 weeks. But after 02 weeks also the EMI was not debited. As per citibank customercare instruction I have paid the EMI for May & June 2013 through online payment. Later when I check my loan statement I found that there is an excess debit of interest towards the loan. On my enquiry Citibank informed me that the excess interest is due to delay in emi payment. But it was not a mistake from my side as I have submitted the ECS mandate form well in advance and enough fund was there in my account. More over in the loan statement it is mentioned that ECS bounce for 02 months and it is adversely affecting my credibility. I request this forum to kindly intervene in to this matter and advise me for further necessary actions