Credit Card
Extra Charges for EMI

Hi,

My Name is Suneel and i am using the Card: xxxx xxxx xxxx 3002. I have taken a health policy from ICICI Lombard which can pay in EMI's. Through phone they have told me that no processing fee and service tax will be done for you. But when i see the first statement, EMI amount is 278 Rs. and Interest for EMI is 45 Rs and service tax for the month is 4.8 rs. This is happening for every month. In another case, Bank called me and gave me an opportunity to convert the outstanding amount of 15, 317 to 12 EMIs with 16% pa interest rate. But when i see the statement every month along with EMI, i have been charged 305 Rs Interest on EMI and service tax for that. I dont understand on which rate they are imposing the interest on me. Bank people will call me and ask me to pay that which i dont want to pay. But they threatening me that you wont get any other bank loan, visa to any country once we update in SIBIL. I have paid the outstanding amount for the month. But i need a concrete solution for this bankruptsy and let me know how can i get out of this EMI unbearable charges. Usually for outstanding amount of 33000, i am getting 950 Rs interest rate. but for EMI premium 1278, am getting 305 rs interest rate which is unbearable. Some one pls make the bank responsible.

Company: Credit Card
Country: India
State: Tamil Nadu
City: Chennai

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