I am writing to seek clarification regarding a recent deduction of 500 rupees from my account for appraisal charges related to my jewelry loan. I would like to understand the details of this deduction from the Mayiladuthurai Junction branch.
I availed a jewelry loan from IOB Bank for a total amount of 1 lakh. According to the loan agreement, the appraisal charges were supposed to be included in the loan amount. However, upon reviewing my account statement, I noticed that a separate deduction of 500 rupees was made specifically for appraisal charges.
To ensure transparency and a clear understanding of the loan terms, I kindly request the following information:
1. Explanation: Please provide a detailed explanation as to why the appraisal charges were deducted separately instead of being included in the loan amount, as originally agreed upon.
2. Loan Agreement: Kindly clarify the specific terms and conditions governing the appraisal charges for jewelry loans, as stated in the loan agreement.
3. Refund: If it is determined that the deduction was made in error, I request the reimbursement of the deducted amount to my account at the earliest convenience.
I would greatly appreciate your prompt attention to this matter and the provision of the requested details. If there are any additional documents or information required from my end to resolve this issue, please let me know, and I will provide them promptly.
Thank you for your cooperation. I look forward to receiving your response and a resolution to this matter.
Thanks & best regards
PRABU KALIYAMOORTHY Was this information helpful? | 
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