Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
Indusind Bank issued credit card on 10th dec 2016, Before 30th dec 2016, I used it for 3 purchases of amount Rs22,610/-. Fist bill on 5/1/17. Payment due date is 25/1/17. Statement period is 6/12/16 to 5/1/17. Minimum amt Due is Rs4571.77. Purchase & other charges is Rs.26675.52. Payment & other charges Rs12485. Total amount due is Rs14190.52 & total outstanding is Rs22191.32. My Question is 1. for usage of Rs22,610 ( 11937 548 10125), why Rs 26675.52 ? 2. Why the Total amount due is Rs14190.52? 3. Why should i Pay Rs4571.77 as a Principal interest on the over all amount? Bank has converted my part of the Transaction Rs11937 into EMI with 13%interest charges Installment 1/3. . Why are they dividing the total usage amount into parts and levying the Interest Rate on it ? I do have other bank Credit card, where in I pay Interest for the period of the total due which is very less . For eg, for Rs. 17000, min amount due which is called interest Rs 800 is compulsory to pay and principal amount is as per my convince. But IndusInd Bank is Demanding principal Interest on Credit card Like a Loan collection pattern and not allowing the customer to enjoy its facilities Its Pinching my Pocket. I already made payment of 4500 100=2000 also. now outstanding is Rs 14000/-. still they amke unsoliciated calls for principal amount. not used this card after 3 transactions.Please help me out.
SBI should discontinue partenering with GE which is behind the mess. It will lose the goodwill and customers in other service areas too. This is one of the worst cards I ever had. It is like plague. Never, ever agree to own an SBI Card. It is a rut into which you would be sucked, and find it difficult to get it. I am surprised that with such negative feedback SBI is not making any efforts to conduct a survey and find out what's going on and whether the negative experience would not rub on its other services. Afterall, SBI is not bad at all in other areas. It's only GE which is ruining its reputation. Also, complaints from SBI should be ignored by the recording agency until it settles its issues with customers. Also, it should be eliminated from participation in reporting of defaults if any bank/credit card company exceeds the average percentage of complaints. The customers also should have a mechanism like default reporting to vent their grievances. GE Finance should be barred from any financial activity in the country as it will make the life of Indians miserable in every walk of life.
I had taken a personal loan from HSBC Bank of Rs 20,000 on my gold credit card (which has a limit of Rs 50,000). Owing to financial circumstances and change of location, I couldn't pay on time as a result their collection dept sent me a threatening memo to up pay nearly 28,000.
Further pertaining to my request, HSBC's debt collection dept later agreed to settle the dues at Rs 21,230 and sent a mail mentioning that the next statement of my credit card would reflect 0 dues, after making this payment.
My request to pay the same amount in EMIs was declined as a result I borrowed from my relatives & friends and paid the entire amount of Rs 21,230 in HSBC Thane branch!
However noew HSBC's debt collection dept has notified me that they will still abstain from removing my name as 'Defaulter' with all relevant credit reference agencies.
This is really unjustified and have reflected harshly in my home loan application to various banks. My 0 dues statement has not helped either!
