Indian Bank — For processing fee without receipt

Indian Bank — For processing fee without receipt

S shivaraj from Chennai, Tamil Nadu

Sir/Madam, I am an Indian Bank customer for past two years.Today i went to pledged my JEWELS for some business development.I pledged my jewels for the loan amount Rs.1,20000.00. all went good untill the concern jewel loan officer asked for Rs.420 as processing fee or appraisal. when i asked receipt, they said they wont give the bill for this purpose throughout the country.when i asked further more reasons about the processing fee.They used some inofficial words,and every ones attention fall on me. I felt shy and gave the money for hell's sake.what can i do further??? Regards s Was this information helpful? No (0) Yes (0)

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doss

from Pudukkottai, Tamil Nadu

The appraiser fee for verifying/weighing etc., is Rs.3 per 1000/- with a minimum of Rs.30 and Rs.300 maximum per borrower per loan. In your case you have been charged Rs.3.50 per 1000 superceding the maximum limit of Rs.300 and it is the mistake of the Branch. You may please take up the matter with Indian Bank Customer Service Cell - or please visit www.indianbank.in and from there you can send your complaint also.

And as this is the fee collected by the appraiser (not the bank employee), the bank cannot give you a receipt for this type of charges. But for the processing charges for your Jewel loan (0.56%) i.e Rs.672, you can demand the statement of account while you close the Jewel Loan.