Dear Sir,
I am not saying that you have to revert the interest charges but you need to calculate the interest only on the outstanding as on 18-04-08. The outstanding amount is Rs.18481.16 as on 18-04-08. My concern is you have not charged for the outstanding of Rs.18481.16. If you calculate the interest for Rs.18481.16, the amount will be Rs.582.15 but you have charged triple the value.
"18/04 Service Tax Rs. 175.41 (DR)
18/04 INTEREST CHARGES Rs. 1, 419.18 (DR)"
Thanks and regards,
M. Sithivinayagam
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Dear Sir,
As we have received part payment towards the credit card of March statement so interest charges are levied in your credit card account.
We regret our inability to reverse the interest charges levied in your credit card account.
Sincerely,
Venkat Nathan
Account Manager
ICICI Bank Limited
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Dear Mr. Gouse,
I have made payment of Rs.8429.69 before due date. Could you please provide me in detail about the transaction which I have made last month and the interest charges belongs to it? Also, let me know if there is any charges to get these details.
I want to confirm one more thing at this point of time. So far you have not made any charges like this. Also, if you are implementing any new rules that you have mentioned in your mail please be informed to us in advance as we are not aware of these details.
I am really worried about the charges incurred heavily in my card statement suddenly without prior notice. I have been using ICICI Credit Card nearly 4 years so far I haven't faced this type of issues. Based on your positive reply on this issue, I can decide whether I need to stay with ICICI for a longer period or...
For your quick reference, I have listed out the payment details below.
09/04 Infinity Payment Received, Thank You Rs. 3, 000.00 (CR)
09/04 Infinity Payment Received, Thank You Rs. 1, 973.69 (CR)
08/04 Infinity Payment Received, Thank You Rs. 1, 100.00 (CR)
07/04 Infinity Payment Received, Thank You Rs. 566.67 (CR)
07/04 Infinity Payment Received, Thank You Rs. 333.33 (CR)
07/04 Infinity Payment Received, Thank You Rs. 400.00 (CR)
07/04 Infinity Payment Received, Thank You Rs. 666.67 (CR)
07/04 Infinity Payment Received, Thank You Rs. 389.33 (CR)
Thanks and regards,
Sithivinayagam
&--Reply Separator&&-Dear Mr. Sithivinayagam,
We inform you that the charges levied due to non receipt of the complete payment towards the March statement.
We inform you that the Interest charges are accrued if you make a payment for minimum amount outstanding or a payment less than total amount outstanding or if no payment is made.
Interest is charged based on the following criteria:
On the transactions in previous statement from the respective transaction date till the statement date
On the total amount outstanding from the statement date till the part payment date
On the remaining amount outstanding balance till the next statement date
On the fresh purchases done thereafter, till the next statement date.
Rate of interest 3.15% is applicable on your ICICI Bank Credit Card whenever a part payment is being made.
Sincerely,
Mohd. Gouse
Accounts Manager
ICICI Bank Limited
We value your feedback on your experience with our response to this query. Please click the "Feedback" tab and give us your views.
If your contact details have changed, important letters, e-mails and other communication may never reach you. The easiest way to remain connected is by updating your contact details in our records online. To do this, log on to credit card Internet Banking, click 'Change of Address' under service request or download the Address Change form from our website http://www.icicibank.com/pfsuser/webnews/products11.htm, fill it and drop it at any ICICI Bank/ATM drop box.
Safe Tip: Remember your passwords and do not tell anyone else, be it your close relative, trusted friend or even your banker.
&--Original Message&--
From: [email protected] ([email protected])
Date: Sunday, April 20 05:56 PM
To: [email protected] ([email protected])
Subject: Credit Card
Branch Id : 6254 Account Id : 625401504432
Dear Sir/Madam,
Could you please explain me the below mentioned charges included in my credit card statement last month.
"18/04 Service Tax Rs. 175.41 (DR)
18/04 INTEREST CHARGES Rs. 1, 419.18 (DR)"
Thanks and regards,
Sithivinayagam
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