ICICI Bank — Fraud in calculating interest changes on transactions

Address:

PLOT-63, BESIDE LAXMI HOMES,BLOCK-A, OPPOSITE TO FUSION INTERNATIONAL SCHOOL

Hello Sir,

My Name is Bala Gangadhara Rao S, holding Credit Card with ICICI Bank. They are calculating charges (Interest Changes, GST) from the Customers both on the pending amount (Last month unpaid amount) and transaction amount done on the current month together.

For the Month of APR, 2021, i have unpaid transaction worth of Rs. 1764.47. For the Month of May, 2021, i have made Transactions of Rs. 53, 818.88.

ICICI Bank Considering both Previous Month and Current Month Transactions amount for calculating the Interest charges, Which is unethical and fraud. Due to this they are imposed Rs.2127.06 (1802.59+324.47) as Interest charges.

This is unfair and fraud to consider the transactions made in Current Month to be considered for Interest Calculation since the date of last billing date. They should consider the amount (1764.47) for calculating Interest changes ONLY.

Kindly take this request and take proper action ICICI Bank and the way they calculate the billing.

Sincerely,
Bala Gangadadhar S