[Resolved]  Citibank / Home Loan — harasment by bank

Dear Sir,

. it is citibank has not honored his own commitment given to me in providing proper banking service and went on to provide contradictory balance statement which lead to the harasment to me i have given about 30 to 40 reminders which yielded no result but for the present legal notice.

I has availed a loan in the Citi Bank and he had opted for fluctuating rate of interest and the scheme which i had opted has a Current Account and the money excess in it would be adjusted towards payment. In the case of my client the EMI was about 16, 012/- p.m., initially when the rate of interest was as high as 14% and now the same has come down to 8%.

inspite of the sharp decrease in the rate of interest the EMI stood the same so the extra amount that has been added to the current account was also ought to have been adjusted towards the principal. But to the shock and surprise of me, Citi Bank has come out with a balance figure which does not matches with its own earlier statement given by the bank employee some times back.
Citi Bank is playing fraud on my client by providing improper information without proper break ups and also went on to add so many extra charges which my client have already paid. improper account balance and the loan balance information provided from your Citi Bank.

how the due and the outstanding has been arrived into, can a legal notice without providing proper information . any kind of pressuring my client to accept the outstanding by imposing threat of legal action against my client without any basis.





i sent reminders seeking for proper explanation as to why the details specifying the Ideal Balance, Actual Balance, Ideal Interest, Ideal Principal, Applied Interest and the Monthly Save has not been properly provided. But these particulars were not provided, instead citi bank went on to say that the reduced rate of interest consequent amount that has been accrued will be adjusted towards the principal and loan will mature earlier than the stipulated tenor, this message does not contain any information as to how these extra interest has been allocated till this day.




i have been put to severe mental disturbance and turmoil due to inappropriate calculation of balance of loan and balance in his current account without these information was totally kept in dark by citibank about the status of his loan. i received the false and contradictory statements what citibank has provided till this day It is to inform i have given several reminders Citibank that ither the a/c shold be corrected else the stoppage of EMI will be the sole responsibility of bank and my client will not be responsible to pay the interest for this period. It is matter of shock that i made the payment for service fee as Rs. 11200 through chequ even that has been shown as outstanding amount.The trasaction details furnished by bank from Current a/c to home loan are totally ununderstandable and confusing . i visited the bank many times but no details are furnished. The monthly statement does not show any where how the deposited amount has been adjusted against the loan principal and interest.No where the interest saved of due to reduction of interest has been shown adjusted to principal. Also interest accrued due to additional deposits in the crrent account has been shown.
Conclusively your citibank people are not clear to give correct statement and different persons give different statements. i requestedin formats to Citibank repeatedly to furnish the details so that correctness can be seenbut Citibank failed to do so

So here by icall to furnish all details from the day one till today which should include particulars of Month-EMIrecovered, EMI adjusted in principal and interest, actual interest, saving of interest adjusted in principal, extra interest adjusted due to extra deposit of money in current a/ccount, amount ofextra deposits for the month, date wise transfer of money from current a/c to home loan a/c from the date of availing the loan failing which my client would be compelled initiate legal recourses for providing false information and trying to get unjust enrichment by using threat on my client. Your bank should correctly justify the claim which has been changing from person to person

Yours faithfully
Thanking you