IndiaBulls — error in calculation of refund + zero notification of excess amount + blanket statement saying will take 21 days but no justification given for delay

Address:

560100

Dear sir,

Loan account no - hhlbag00343014

I would like to bring to you kind attention that there was an error in calculating the refund amount of home loan payment.

As on 6th august – foreclosure amount to be paid was

- 35, 65, 405.55 – as per india bulls

Amount paid :

- 35, 48, 290 – (Hdfc bankers cheque – dated 31st august) – submitted in bommasandra branch - bangalore before 11:00 am on 6th august – monday
- 3, 895 – (Amount was already in excess with india bulls) – please refer to the soa
- 37, 925 – (Ecs – amount debited from salary account and credited in india bulls account – 6th august – monday) – bank statement also shared (Password – siri2209)

Error in computation of charges :

- late payment charge – 119 – (Amount was charged despite the ecs – to be removed)
- interest was computed for 5 days upto 9th – cheque submitted on morning of 6th august (3 working days – 866.08 * 3 inclusive of 6th august = 2598.24)

So the actual refund should be :

A - amount to be paid to india bulls – 3521734.79

O 35, 65, 405.5
O (3895) – excess amount already in india bulls account
O (119) – no late payment charge
O (1731.76) – excess amount charged towards interest
O (37925) – ecs payment – already credited in indiabulls account on 6th aug
O amount paid on 6th august (35, 48, 290)

B - amount paid – 35, 48, 290

C - difference amount to be returned – inr 26, 555.21

Also i would want to understand why this entire process takes so many days. To calculate refund you take 9 days’ time. Also to let the customer know of the amount you take no initiative at all. You just take on blanket date saying the process will take 21 working days. 21 working days is just too much.

Sbi just takes 3 working days to close the entire thing.

For the excess amount, you don’t pay any interest to the customer for holding the amount for such a long duration. I am not sure if this is a deliberate act or it is just a miss from someone. This is not at all acceptable. Now i feel my decision to move out of your bank was good.in fact my very introduction was bad.

I want someone to please look into it it.

Regards
Sirish karamcheti
[protected]