Citibank
Home loan extra EMI charged tha actual

Dear Sir/Madam

I had taken a loan of Rs 18, 68, 000/- on 30.04.2004 from Citibank.

My actual rate of interest is 11.50% . Thus EMI as per the outstanding should be Rs 18400. But the company showed me wrong calculations and have signed a ECS as Rs 25000/- EMI which has been getting cleared from my account from 01.08.2008.

Having talked to Citibank Customer Excecutive and bringing in notice about my more EMIs charged they accepted that i have been paying around Rs 7000/- more every month for last 12 months.

I told them to cahnge my ECS clearance as per the actual EMIs. To this they replied to me that i have some overdues that i have to be cleared first and have sent me statement of homeloan right from day one. Now i am unable to understand the penal interest nor able to spot out the payments of extra EMIs paid by myself.

I am really in big problem as the bank cheated me in calculations and took more EMIs than actual and now are not changing the same as per the actual EMIs.

Please help as it has become a BIG BIG burden on me. I am under tremendous tension because of this.

PLEASE HELP.

Regards

Sandeep Sethiya

Citi Bank Home loan A/c : 904480