Jun 29, 2008 11:00 AM
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The total Outstanding as shown in my latest statement is Rs 21117.67. This includes Rs 4667.00 which I got converted into Flexipay 6 EMIs. Thus the Total Amount Due should be Rs 21117.67 – Rs 4667.00 = Rs 16450.67. As against this, the statement is showing Total Amount Due as Rs 16956.22, which is higher by Rs 505.55. I lodged a complaint on SBI Card website asking they have increased the Total Amount Due by Rs 505.55
After two reminders over 15 days, some one called from 0124 3992879 stating that he is from SBI cards and tried to explain the matter by stating that the Total Amount Due has been increased by Rs 505.55 because of Pre-computed interest Rs 326.69, Flexipay Processing Fee Rs 149.00 and GST Rs 18.42. I pointed out that all these debits are already included in Rs 10497.69, the total of all Purchase and debits. That is why, Opening Balance Rs 27886.98 + Purchases and Debits Rs 10497.69 – Payments Reversals and Credits Rs 17267.00 makes the Total Outstanding of Rs 21117.67. He lust repeated what he had stated earlier and disconnected the phone. On top of it, immediately they sent me an emailfrom pema rinzing - Customer Service feedback.gesbi@ge.comeferring to the telephone conversation and claiming that they had clarified the matter.
Not satisfied with this treatment, I sent mail to SBI cards AVP - Customer Service head.sbicards@ge.com. Again I highlighted that the Total Outstanding of Rs 21117.67 includes Rs 4667.00 which I got converted into Flexipay 6 EMIs. Thus the Total Amount Due should be Rs 21117.67 – Rs 4667.00 = Rs 16450.67. The amount of Rs 505.55 is already included in Rs 21117.67. Then why should SBI increase the Total Amount Due by Rs 505.55 again? It is just a matter of chance that I could not pay the Total Amount Due this month. But if I had paid the Total Amount Due Rs 16956.22, as shown in the statement, they would have got Rs 505.55 extra from me. Later, in the six EMIs you would include the interest and tax component.
All this means that they charging interest THRICE:
• First, as pre-computed interest and tax, included in the Total Amount Due
• Second, in the additional Rs 505.55 you recover by increasing the Total Amount Due
• Third, in the six EMIs.
There was no response for 10 days. So I sent reminder. To my shock I got the same reply as earlier referring to the telephone conversation and claiming that they had clarified the matter.
