Mr. Varun (Bank’s executive) offered me Easy Cash (Personal Loan over phone) of Rs.50, 000/- on my credit card no. 5425-0513-1091-3073 on following terms and conditions:
Amount: Rs.50, 000.00
Tenure : 12 months
Interest : 1.99 reducing
Processing Fee: Rs.499 (one-time)
EMI: Rs.4, 678/-
Pre-closureCharges: Nil
Beside he also told me that i may pay any amount in excess of EMI (i.e Rs.4, 678/-) and a separate account will be created for this.
I accepted the offer as above.
But i got shocked to receive easy cash charges (statement) in my regular statement of above card dated 5/9/07 which includes following:
Processing-Fee: Rs.995/-
EMI: Rs.4, 726/-plus service tax.
Bank vide mail dated 28/9 replied as under:
Dear Mr. Kumar,
We refer to your email dated September 25.
We would like to inform you that we have send easy cash loan of Rs.50000.00 at interest rate of 1.99% at fixed emi of Rs.4726.00 for 12 months.
We wish to apologize for the miscommunication being done to you.
The issue of miscommunication has been taken up and appropriate steps initiated to avoid re occurrence
We however like to express our inability in waiving off processing fee (min. Rs.100 or 1.99 % whichever is higher) for the teledraft as these are the system generated charges which are levied once the teledraft is approved.
We express our inability to reprocess the loan account.
In case you require any assistance, please feel free to call our 24-hour Bank by Phone service in your city and our executive will be glad to assist you.
You may also quote the reference number:00094555165, in case you need any further clarification on the above resolution.
Assuring you of our best services.
Yours sincerely,
Manager, Client Response Unit
Though the bank has apologized for the miscommunication they have expressed their inability to correct the loan account with the actual agreed figures. I request you to take up with bank and ask them to open the loan account separately as per terms and conditions on which I agreed while availing this offer from Mr. Varun (please get it verified from our telephonic conversation). I will not pay any amount in excess of the agreed amount.
I hope that you will understand my problem and take the necessary action to get the matter resolved at the earliest. I have also written to bank that no payment will be released by me until and unless this matter gets resolved.
Manoj Kumar Anand
9871596465
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