[Resolved]  Allahabad Bank, Chaura Bazar, Ludhiana — Wrong interest charged

Address:

Ludhiana, Punjab

HOLDER OF INDIAN OIL CREDIT CARD NO. [protected] SINCE LONG i.e. BEFORE 1995.
i) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @2.85% (34.2% ANNUAL) AND ONWARD PERIOD.
ii) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @2.99% (35.9% ANNUAL) AND ONWARD PERIOD.
iii) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.15% (37.8% ANNUAL) AND ONWARD PERIOD.
iv) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.50% (42.0% ANNUAL) AND ONWARD PERIOD.
v) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.15% (37.8% ANNUAL) AND ONWARD PERIOD.
vi) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.50% (42.0% ANNUAL) AND ONWARD PERIOD.
vii) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.15% (37.8% ANNUAL) AND ONWARD PERIOD.
viii) STATEMENT PERIOD[protected] TO[protected] INTEREST CHARGED @3.45% (41.4% ANNUAL) TILL STATEMENT PERIOD[protected] TO[protected] .

STATEMENT FOR THE PERIOD[protected] TO[protected] SHOWS 036/48 EMI RS. 1762.50 AND EMI RS. 1762.50 PAID ON 22ND EVERY MONTH SHOWN IN THE STATEMENT.

MY COMPLAINT IS REGARDING THE RATE OF INTEREST CHARGED IS JUSTIFIED AS APPLICABLE TO NORMS. IT IS VARIABLE FROM PERIOD[protected] TO[protected] INTEREST CHARGED @2.85% (34.2% ANNUAL) TO[protected] TO[protected] INTEREST CHARGED @3.45% (41.4% ANNUAL) TILL STATEMENT PERIOD[protected] TO[protected] AND ADVISE PLEASE.