Muthoot — Recived excess interest on Gold Loan

Address:

Bellary, Karnataka

Dear Grievance cell As above mentioned, I have availed Gold against pledged gold Neck less at your Ballary Branch, in this regard, I have paid an interest for the one month duration of of interest. Furher also I have remitted partial Interest and obtained receipt also.Consequently walked in to your branch after 6 month to pay the interest the executive said interest shall be calculated on the rate of 30% per month bases and total interest will be the 12485. I have strongly objected and asked him to re calculate the same and give it in written . Later he denied to give the same and asked me to come next day as branch manger will be at office In continuation my effort I met Branch Manger, he told me that it is system generated and it is true and interest has been calculated on par with 30% and your part interest Rs 2000.00 ( paid on 12.12.2014 is considered principle amount ) and to be paid 13485 ( Thirteen Thousand four hundred and eighty five ) Lona will be closed and new renewal receipt to be given and principle amount will be considered Rs 62000.00 against 65000.00 old gold loan ( as per new renewal loan ) I hereby clearly furnished details for your kind intervention and redressal the grievance or i will be approach to competent authority to seeking justice if you failed to take the issue to resolve at earliest. Also you may reach me and feel free to talk [protected]Regards