Date : 25/09/2009.

From :
Ashok B. Mehta,
Ram Nivas, Near : ICICI Bank ATM
Bhaktinagar Circle
Rajkot : 9428275822 / 9974253480

To,
Bank of India,
Head Office,
Mumbai :

Re. Our Over Draft A/c. Nos. 310227110000008 / 03 / 02 with
Bank of India, Malaviya Road Branch, Rajkot – Gujarat.

Sub : Excess Interest charged than agreed.

Respected Sirs,

We have deposited Fixed Deposited upto Rs. 13,28,000.00 in various family member’s name with the bank.

We enjoy over draft facility against the above FDRs.

Regarding our Over Draft facility we hereby clarify that we have been provided the overdraft facility at the interest rate 1% higher than our FDRs considering our group family fixed deposits.

We were using our over draft accounts regularly at the interest rate 1% higher than our FDRs till august-2009.

But on receipt of our account statements of July-2009 and August-2009, we were charged lumpsum heavy amount of interest. On approaching the bank, we are informed that, this is because, the auditors has disallowed the 1% facility and has recovered interest @ 2% difference from starting period itself. This is the problem with us that, if we are disallowed 1% difference, the bank cannot recover previous lumpsum difference with us. Bank has been charging us 1% difference interest rate since more than 3 years. And now bank says that it was its mistake and so they are now recovering the lumpsum interest amount from us. But the fact is that, no one either bank or we are making mistake. We have been allowed 1% interest rate difference by the bank from starting itself.

We would like to draw your kind attention that, there is no mistake in our account either from bank side or from our side in charging 1% difference interest rate because it was mutually agreed and also filled in the over draft opening form. manager has singned the documents. You are requested to please rectify our account opening forms. It is clearly mentioned to provide over draft at the interest rate higher 1% than the FDRs.

When it has been agreed by the bank and us mutually, why our account has been debited with difference interest amount lumpsum from starting itself ? bank has charged 1% difference interest rate till july-2009. Then why bank recovers interest from us from 2007 considering 1% more ?? Why the bank has effected our account with more interest after a long period of 2.5 years ?
You are requested to please reverse the excess interest charged in our account. You are also requested to refer the account opening form which is with our branch. It is written by the bank in the form that over draft to be given at 1% interest higher. Then why bank debits our account calculating 2% interest ?

We did approached our branch many a times and today 4:30 PM. We met personally to the branch manager Mr. Verma. He says the interest rate will be charged at 2% difference only because your account volume is small. We told him that whether our account is small or big, it has been agreed with the bank in the account opening form that bank will provide us overdraft at the interest rate 1% difference. But he says that it is not possible.

We just wonder, that it is possible for bank from 2.5 years and now it is impossible for the bank. The FDs are same. ODs are same. But why such debits now ???? why bank not obey the form filled by us and the agreement done with bank ? We have been told by the Branch manager that YOU CAN WITHDRAW YOUR FDS, bank is not at all interested in such smaller accounts ?

Actually the branch manager at the time of opening our account did promised us to allow overdraft at the difference interest rate of 1% and so we deposited our money with the bank. And now the prevailing manager has no interest in our accounts !!! we just wonder why ???

You are requested to consider the matter and do the needful at the earliest. We feel like being cheated by the bank because bank has promised us to provide over draft facility @ 1% difference. Bank also provided this facility for 2.5 years. But now bank has recovered all the interest fully starting from first month after one year and debited our accounts. We just cant understand where to go for justice ??? Branch Manager is irresponsive regarding reverse of excess interest.

Awaiting your prompt response.

Thanking you,
Hoping to be replied favourably,
ASHOK B. MEHTA GROUP

To
HDFC Bank

Dear Sir,

With reference to the subject cited above this is to inform you that HDFC bank, NAC Manimajra, Chandigarh (U.T) branch had opened a corporate salary account 04351540000748 while I was serving with IBM Daksh Business Process Services Pvt Ltd.

That more than one & half years have elapsed I have left the service & the account in question has become inoperative as there has been no salary credit since then. However, I visited your branch & requested them either you close my salary A/c or convert the same into saving A/c so that it can be maintained further. Your Manimajra branch bank official refused to covert the A/c in to saving A/c being corporate salary A/c and further stated that if there will be no salary credit for consecutive 03months automatically this will become inactive A/c you need not to bother & advised me alternatively to open a fresh saving A/c as this A/c cannot be designated as saving A/c. Meanwhile, I again visited the bank & contacted the official in this regard but they did not pay and heed to my request. However, I opened a fresh saving A/c14021000025448.

That I wrote a letter to Mr. Seshan Ramakrishnan, Head Retail Liabilities Product Group HDFC Bank, Anderi(E) Mumbai, & copy endorsed to Manimajra Branch requesting him to close the corporate salary A/c & issue necessary instructions to your NAC Manimajra Branch, Chandigarh in this regard but nothing could be done so far. I presumed that the A/c would have been closed as Monthly statement of a/c was stopped by your bank.

That an irony to your poor banking system, that a sum of Rs 1591/- on account of bonous was erroneously credited in to this inoperative A/c by the company which has been completely deducted by your bank arbitrarily on 28-11-2009 due to an illegitimate levy of charges for non- maintenance of AQB. This is not understood as to how the corporate salary A/c can be maintained when there is no any salary credit into it. Is there any logic to levy charges due to non-maintenance of AQB. your Manimajra Branch has clearly told me that A/c cannot be closed as still there is a balance of Rs 33/- to be paid by me.

From the above, it can be seen that there is no any lapse on my part at any stage. Therefore, you are requested to waive the whole charges levied by your bank on inoperative A/c and arrange to refund my all credits which has been illegitimately deducted by your bank. However, I feel very much inconvenience for such a despotic decision of your bank.

With regards


Masood Raza

Sir/Madam

I am ranjeet singh from delhi.Yesterday i am going in bank of india east patel nagar branch and its very urgent to transfer a money but a women she said its not our bank policy to transfer a amount in out of account .she suggest me to go another bank.i am fed up please my complaint is very serious action this particular topic.Revert me as soon as possible

Thanks
Ranjeet singh