[Resolved]  HDFC Bank — Credit Card Payment & deduction from saving account

Address:

411037

I have some credit card payment issue since January 2016 & was regular in touch with my RM & main issues are as follows
# Is it crime to ask ROI calculation to HDFC? If not then why HDFC is not giving information to customer?

# I have requested HDFC pl explain me how you are calculating (a) Finance charges (b) Late fee etc.
# Which amount is applicable for ROI?
# ROI is applicable on Purchase above card limit or applicable on balance payment from statement?
# Some times HDFC says ROI is 1.19% pm, some time 1.93% pm? Which is true?
# HDFC is calculating rate of interest 3.4%pm means yearly means 40.8% per year. I donot understand ROI calculation “ outstanding amount x3.4%pm x12m x no. of days)/ 365”. Maybe tax calculator knows this.

# HDFC is giving only 6% ROI on my balance in account?

I have received more than 100 calls from HDFC but NO one is able to explain the calculation.
I wrote to HDFC that, I am ready to pay the amount which is as per bill of July 2016, where I have paid rs.105000 & balance rs. 35000/-
But no one explain the calculation to their valued customer.

I wrote many times to Mr. Pramod Nair Manager - Correspondence (Chairman & MD Cell) But No positive response.Then I wrote to Respected Deepakh Parekhji 2-3 times but no feed back.
I had lodge complain to Grahak Sukarsha, but no feed back.

Then I went personally to HDFC bank, Credit Card dept, Bund Garden Branch, Pune on October 17, 2016, met Mr. Imran sheikh main incharge for credit card, he also can not explain me the calculation, Then I told him, as per well come kit, it as 3.4% pm means yearly 40.8%. I have asked him how you can charge 40-42 % per year. He told me that yes credit card interest is like that & just like BANIYA KI DUKAN, SAWAKARI KHATA?Then he told me that he will collect all my statement from Oct.2015 till date & will depute Mr. sameer Kharade to my residence to explain. But he never came up nor informed me any thing.

Mr. Nilesh Ghorpade was not interested to meet me but he always wrote mails to me for payment ONLY.

Then HDFC had blocked my Rs.35000/- in my saving bank account with HDFC?

IS RBI OR FINANCE MINISTERY AUITHORISE TO CHARGE SUCH A HUGE 40 – 42% ROI TO CUSTOMER WHILE BANK GIVES ONLY 6% ROI ON SAVING ACCOUNT? CAN BANK BLOCK MY MONEY IN SAVING ACCOUNT WITH SANE BANK (HDFC) WITH OUT MY KNOWLEDGE NOR PERMISSION?
I HAD NEVER SIGNED SUCH DOCUMENT WITH HDFC?

IF SO THEN WHAT IS THE DIFFERENCE BETWEEN BANKS & SAWAKARI KHATA?

I have sent & requested Mr. Pramod Nair to give me (a) interest calculation, how it is calculated in excel sheet all statement from oct.2015 to july 2016. But till date I have not received any feed back from him. (b) pl look in to & instruct some one to fill excel sheet & send to me. I am ready to pay rs.35000/-

With Kind Regards,

Ankush Achole