[Resolved]  Housing Loan — Unhappy with your Services / Response and unethical behavior of your bank

Address:

Bangalore, Karnataka

To,
Manager
SBI

From,
K S Venu
No 9, 5th Main, 9th cross,
KMR Nilaya, Krishnappa Block,
Ganganagar,
Bangalore – 560 032

Sub: Unhappy with your Services / Response and un-ethical behavior of your bank.
Re: Hosing Loan Account No: [protected]


Dear Sir,

I would like to bring few lines about unexpected abnormal behavior of you to your notice.

We have taken a Housing Loan of Rs.25,00,000/- to purchase a house, from your Raj Kumar road branch, Rajajinagar, Bangalore. Vide order bearing no cited at reference supra. On 19/05/2009.

1. It is strange to note that, though we are been paying monthly EMI from July 2009 regularly (before due date), I am getting a continuous reminders from your bank stating payment is due which is ridiculous. And in this regard my father has visited your RACPC office, several times and updated the same but as usual behavior of your bank there may not be any update in this regard with your books of accounts.

2. We have requested the branch for the issuance of provisional interest certificate during Dec’11. Accordingly, the branch has also issued me the certificate. When we got the certificate it was noticed and shocked that the entire EMI amount paid during 2010-11 tenure of Rs.2,88,000/- was adjusted against interest itself, later when we approached your RACPC, the account was re-verified and noticed that the branch has claimed excess interest form the money paid by us. And the same was reversed stating excess claim of interest of Rs.22,128/- by the branch on 01/01/2011 as per the statement of account issued to me.

3. Further, I have applied for provisional interest certificate for the year 2011-12, the branch has issued a certificate dated 7/1/2012 where in the EMI paid during the above said period was allotted Rs.968/- towards principal and Rs.2,92,000/- towards interest out of the total EMI paid Rs.2,92,968/-. In this regard we again approached RACPC and they have intimated orally and stated that the bank itself has reduced the interest rate by 2% it will be checked and credit will be given to my account.




I would like to intimate that as per the statement of account issued to me the rates of interest charged as per the following

Rate of interest as per statement dates
Rate of interest as per statement dates
Interest Charged 24-12-10 5/1/2011 6/9/2011
1/6/2010 11% 9.5-10.5% 9.5-10.5%
17-08-10 11.5-12% 10-10.5% 10-10.5%
21-10-10 12-12.25% 10.5-10.75% 10.5-10.75%
3/1/2011 10.75-11%
14-02-11 11-11.25%
25-04-11 11.25-11.5%
12/5/2011 11.5-12.25%
11/7/2011 12.25-12.5%
13-08-11 12.5-13%

On the above facts it is strange to note that if this tempo is continued the loan obtained from your bank will not be settled neither in this life time nor my next. I finally request you to kindly re-verify the rate of interest charged in my account and reverse the excess interested charged by you. And also bring to your notice that, the rate of interest charged by you is also abnormal compared to other banks (whereas those banks are also following RBI guided rate of interest only). If this continues we are forced to change our loan account to some other bank rather continuing with your bank with this kind of behavior.

Also like to bring to your kind notice that, during the application of the housing loan, we were told that, in case of any changes in interest rates, it will be intimated to the customers in writing before it is affects their account, which had never happened during this period. Instead, the money has been adjusted according to your convenience which is again a strange behavior of your bank. Even now your people or not responding for any queries raised / asked by us regarding the interest rates. Which confirms us that, we have made a mistake by taking a loan from State Bank of India.

We are awaiting an early action on justification of the principle and interest claimed by you.

Thanking you,

Yours sincerely
K R Srinivasan / Venu K S
[protected] / [protected]