Excess Interest Charged by Bank

Sample / Template Complaint Letter to Bank Manager (SBI, ICICI, AXIS, IDBI, HSBC, HDFC, Bank of America etc.) for Deduction of Higher Interest Rate on Current Account (CC Limits)

RCL:SBI:13-14/

December 15, 2013

The General Manager

State Bank of India

Akabar Road

Cochin – 465 854

Dear Sir,

REG : Excess interest charged in our Cash Credit A/c No. --------------------

We find from the statement of accounts received by us that the interest charged in our account is higher  as per our calculation based on the rate of interest to be applied in our Cash Credit account in terms of  your sanction (0.75% above SBAR).

We are enclosing herewith the interest calculation sheet for the month October,13 and Nov,13 for your ready reference for re-verification of interest charged in our account in these months with a request of crediting the excess interest including excess penal interest charged in our account at your earliest.

Month	Interest applicable	Interest Chargeable	Interest Charged	Excess Interest to be Refunded as per our Calculation
June’13	12.25 + .75 upto 28.06.13	1236466.00	1245611.00	9145.00
Oct,13	11.75+.75 (12.5%)	1316062.00	1346137.00	30075.00
Nov,13	-Do-	1246897.00	1361898.00	115001.00

Furthermore we could not understand the rational of charging huge sum as penal interest in the month of October’13 & November’13. Rs.75959.00 & Rs.232021.00 respectively. Kindly furnish us break up of the penal interest charged in our account which is exorbitant and not in the line of charging penal interest so far charged in our account  

Thanking you,

Yours faithfully,

for ROCKET SALES LIMITED

AUTHORISED SIGNATORIES

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