Apr 19, 2012 02:08 PM
12848 Views
This is wrt a homeloan that I had availed through Deutsche Bank in Mumbai.
The loan was availed in July 2007 and my EMI was to be initiated immediately.
A verbal as well as a written email was sent to the bank to confirm this on 11/09/07. Since the bank had not initiated my EMI and a PEMI was being deducted from my account. This was inspite of repeated phone calls and written emails to the bank.
The bank took atleast 8 months to resolve this misappropriation. It was only in February 2008 that a letter was issued to me accepting the misappropriation and I was requested to keep the matter under isolation.
During this this 8 month period I spent numerous hours daily; trying to explain the misappropriation by the bank.This not only caused monetary loss but mental agony too.
The bank acknowledged this and has been stated in the letter too. As per which Mr. Vineet Miglani(erstwhile Head Operations) over a phone call confirmed that as a compensation on the misappropriation from the bank. The Bank would keep my ROI below the market rate.
This was accepted by me. And subsequently my EMI was always below the market rate; please see summary below:-
Date Reduction(%) 3-Apr-08 0.25 16-Apr-09 0.50 5-Aug-09 0.50 16-Oct-09 0.25 5-Dec-10 0.50 5-Feb-11 0.25.
5-Aug-11 0.75
Lately; they have revised my ROI and informed me that current market conditions do not allow them to keep a lower ROI. On informing them that the bank is committed to keep a lower ROI as confirmed earlier . They have informed me that they are unaware of any such commitment and have deducted EMI with revised ROI without confirming
The last email from the bank stated that I should approach the Banking Ombudsman as they would not be able to fulfill their commitment.
The Senior Management from the bank too; viz.Ms. Nalanda Kadam, Mr. Manoj Naik have not responded to the above.
Secondly; the bank has stated that it practices a differential ROI policy for prospective clients and current clients on the same product.As a result of which they can offer a lower ROI for a prospective customer. Whereas they could charge a higher ROI for current customer.On inquiring with them the current ROI being offered to prospective clients; they have not given a clear response on the same.
Request your intervention on the above.
So that the bank compensates me for the excess EMI deducted in the past 2 months.And also confirms the ROI being offered to prospective customers.
My current EMI is 15728 INR; whereas the bank is deducting 16296 INR; without giving a justifiable reply to the above.
Therefore please refrain from taking any product from Deutsche Bank; especailly homeloan.
