State Bank Of India [SBI] — charging high rate of 9.50 % interest than the offered rate of 9.00%.

Address: Mysore, Karnataka, 570023

With reference to service request no.[protected] for the sbi card no. Ending xxxx9307 it is to bring to your notice that, i received sms to my registered mobile no. [protected] that the interest rate to encash the amount rs. 800000/- is 9.00 p. A. For personal financial needs. Further, 100% processing fee waiver on booking encash which is valid till 30th sep, 17 as per the sms received.

While discussing this matter with your executive on 12.09.2017 over phone i brought this to his notice and requested to reduce the interest rate from 9.5% to 9.0 % and to waive off 100% processing fee to encash rs. 800000/- as the offer is given by sbi only.

The details of sms received to my mobile no. [protected] on encash is given below.

1. Tue, 5 sep 2017 sms 13.06
Dear s b nagaraja, get up to rs. 800000 lakhs at 9% p. A. For your personal financial needs with encash. This pre-approved amount is over and above your credit limit. Click http://nsm.sq/vtJj4 for a call back. T&c - sbi card.

2. Mon, 11 sep[protected] sms 12.49
Enjoy 100% processing fee waiver on booking encash. To book click https://www.sbicard.com/b/4hHlky2y0XZ or visit sbicard.com/sbi card mobile app. Min. Booking amount rs. 2.5 lakh. Valid till 30 sep ’17 t&c apply.

3. Wed, 13.09.2017 sms 10.29
Dear s b nagaraja, get up to rs.800000 lakhs at 9% p. A. For your personal financial needs with encash. This pre-approved amount is over and above your credit limit. Click http://nsm.sq/CNrHp for a call back. T&c-sbi card.

4. Thu, 14 sep 2017 sms 09.07
Dear sbi cardholder, your request encah service request[protected] of rs. 800000 for 48 months with an emi of rs. 23000 for card no xxxx9307 has been processed successfully. Cheque will be dispatched to your registered address in 5 working days.

5. Thu, 14 sep 2017 sms 15.56
Dear sbi cardholder, your encash cheque has been sent ob 14/09/17 through blue dart reff no.[protected]. Same will reach you within 5 working days.

6. Email. 13/09
Booking. [protected]@sbicard. C... Service request number[protected] dear s. Nagaraja, thank you for booking the...

7. Sat, 16 2017 sms 15.06
Dear sbi cardholder, your request related to encash booking sr[protected] has been processed. Kindly let us know how satisfied you are with the service extended to you. Kindly click here to share your feedback: http://sc.ge.com/*CSAT.

I received the cheque # 43258 dated 13.09.17 for 800000/- on 15.09.17 with amortization schedule through blue dart.

I am shocked to see that the offer details shown in the letter sent along with cheque it is mentioned that the processing fee: 2% of the principle amount. Min. Rs.499/- & max. Rs. 3000/-. But while discussing with your executive before confirmation it is assured that processing fee 100% waived for encash. A copy of the letter dated 13.09.17 and amortization schedule are enclosed herewith for reference.

In this connection, it is requested to reduce the rate of interest from 9.50% to 9.005 p. A. And waive off the processing fee to 100% as the offer is given by the sbi only as per the details shown above in the smss listed from 1 to 3 and is valid till 30th sep. 17.

Since i am an esteemed customer of sbi card, i hope my request will be considered favourably. I will be eagerly waiting for your positive action on this matter. After reducing the rate of interest from 9.50 to 9.00% and waiving of 100% processing fee a new amortization schedule may be sent to me.

Thanking you,

Encl: as above. Yours faithfully

(S. B. Nagaraja)
# 256, ‘ashirwad’, 9th cross,
2nd stage sriramapura,
Mysuru-570023.