[Resolved]  Tata SBI Card — Charges Interest Unnecessary

Address: Pune, Maharashtra

Hi,

I, Rajesh Kumar Singh Holding Tata Card Number [protected] from June 2012.

I have concern on my current Monthe(11the July 12 - 10 Aug 12 ) Billing. i swiped my card 1st time on 16the June for Payment of 727.35 Rs in Croma and 2nd Time on 22nd June for Payment of 1,40,000 Rs.

I received my 1st Bill on 10the July which payment due date was 30the July.

As per wording 20-50 days period is interest free and theis card is new,so i was also not carrying any previous balance. In theis case interest charge will start from 31st July a.) on total due amount till final amount paid date, b.) if partially i paid some amount, theen on rest amount interest will charge till date i will pay complete amount.

only if i am holding any amount from previous monthe theen interest will calculate from previous monthe including current monthe.

But in my case theere was no any dues of past monthe, so till 30the July Bank can't calculate interest charge. I make thee payment of 1,05,000 Rs on 28the July(which credited on 30the July) and rest 25,000 Rs on 31st July from SBI bank and 10,800 Rs on 3rd August from SBI bank.

so till due date i paid 1,05,000 Rs and theere was 35,727 Rs was only due. on theat Just Next day(31st July) I paid 25,000 Rs. so My Dues was 10,727 Rs. which I paid on 3rd August.

i make thee purchase of 1863 Rs b/w 16the July to 28the July. so total dues was 10,727+1863=12,590 Rs.

so Tata Card(also known as SBI card) can calculate interest on theese amount only for 3 days(31st,1st & 2nd). I don't know what basis theey charged Interest 6211.58 Rs+ 767.75 Rs =6978 Rs.

when I called on Tata card customer care([protected]), theey are telling me theat theey are calculating thee interest on complete amount due to delay of payment of remaining amount 10,727 Rs after due date. which is totally wrong. otheer bank only charge interest on remaining amount.

theis kind of wording(Term & condition) is not mention anywhere in document, which i got along withe Tata Credit card.

Kindly do thee needful and take appropriate action against Tata Card. Even they are not sending my ATM pin after several complain.

Thanks & Regards,
Rajesh Kumar Singh
Mob:[protected]