Complaint Details

Status	:	Resolved
Complaint No	:	0002422/2012
Category	:	Banking
Date	:	16-10-2012
Subject Line	:	interest rates not updating as per RBI guidelines
Complainant	:	Anil kumar singh
Address	:	House no-9-s, Saket nagar, Chilmapur
Complainee	:	State bank of india
Address	:	RACPC, transport nagar, gorakhpur

Complaint Details
My wife Mrs.Sandhya singh have a home loan from SBI, Few problem which i had feeled is as follows-
1] On internet banking interest rates is showing as 10.25% from 20/09/2012, But on bank system it was feeded as 10.505 interest rates.

2] other problem i wrote e-mail to sbi which i had attached below-
To, Dated-13/10/2012
The manager,
State bank of india
RACPC, Gorakhpur,
Uttar Pradesh.
SUBJECT-REGARDING HOME LOAN INTEREST RATES
Respected sir,
This is to inform you that I have a SBI-REALTY-HOME LOAN AC.no-32280984405, started from 16/04/2012. That time As per RBI and your approval letter, interest rate was 10.50% against base rate of 10%, but the same was updated on my account on 22/04/2012. Afterwards As per revised rates done by RBI/SBI effective from 20/08/2012 as interest rate 10.25% i.e.0.25% above base rate of 10%, this was updated on my account {As per internet bankink data} on 20/09/2012. On same day new revised interest rate was effective as interest rate 10% i.e.0.25% above base rate of 9.75%, But till date it is not updated on my loan account.
Sir, I will like to inform you that since starting your bank is grabing extra money from my account by charging extra interest rates that too going against guidelines of RBI. All this information is available on websites of RBI,SBI and other media sources, but being STATE BANK OF INDIA as largest bank of india this type of activities is not expected.
Sir, I hereby request you to update my loan account and settle the extra amount which you had grab by charging extra interest rates for the following periods:-
PERIODS INTEREST RATE OF RBI SBI CHARGE INTEREST RATE
16/04/2012 to 22/04/2012 10.50% 10.75%
20/08/2012 to 20/09/2012 10.25% 10.50%
20/09/2012 to till date 10% 10.25%

Sir, I will also like to update my loan account on regular basis whenever rates are revised. I am only claiming as per guidelines of RBI, apart from this bank can give additional 0.25% discount on interest rates. Sir please let me know through email or letter regarding updation of my loan account OR if anything wrongly claimed by me, so as to manage my accountancy.
Thanking you,
With regards,

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