[Resolved] SBI Car Loan — EXCESS INTEREST RATE | |||
MY SBI CAR LOAN BEARS NO.[protected] from Main Branch ,Bellary , in March 2010. The rate committed as per paper advt was 8% in 1st year , 9% in 2nd year , 9% in 3rd year . In 2nd year they have unilaterally raised interest rate to 10% giving an SMS, which , the field officer suggested to ignore. But since the system shows rate as 10% , I cannot ignore it. I am aggrieved to get a letter dated Feb 2011 in end March 2011 , asking me to submit a no of documents that I had already submitted. Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 3 Comments | |||
Comments
I have been said that for 1st year rate of interest will be 9%. on second and third year 10% and then floting but now they applied 10.25% at first year saying that scheem changed from 14-feb-11 your sanction letter is of date 8-2-11
Reply
As per loan agreement it was 9.25 % for initial yr and next two yrs with 10.25%, but it has been observed (Loan A/c no :[protected], from day first bank calculating 10.0 % and now it is 11.0 %, Location : Auranagabad, Maharashtra
Car Loan from SBI — Excess of Loan interest
As per loan agreement it was 9.25 % for initial yr and next two yrs with 10.25% ,but it has been observed (Loan A/c no :[protected] ,from day first bank calculating 10.0 % and now it is 11.0 %Location : Aurangabad ,Maharashtra
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