Location/place: bangalore
Name of company/service: corporation bank
I srikanth s complaint against the corporation bank where I had taken education loan in 2002. When I had applied for loan they had set the loan intrest at 11.5%.
I had met with an accident in 2000 and had developed a disabled limb due to avascular necrosis of femer head. It is observed that upto 1% concession has to be given for physically challenged students with respect to Educational loan. As i had disability had asked for concession for disabilty but the manager denied such facility. They had set the intrest rate at 11.5% but the gradually increased the intrest regularly.
I had spoke about the concession for disability to manager with certificate of disability also they denied such facility, but such facility is mentioned in their website, even after asking about it they are not willing to provide that facility.
According to the Under reference no ZO/ADV/BLR/CBI/CH/145/2003 dated 21st October 2003, rate of interest has been mentioned as 11.5% p.a.
But they have been sending letters for increasing the intrest rate.
As per Indian Bank’s association, it is mentioned that for students pursuing further studies, repayment of loan will commence after completion of second course and further moratorium period.
Please consider this as I am studying DCH course in Indira Gandhi Child Health Institute currently, it is difficult to pay additional interest levied by the bank.
Please do consider all this and revise the interest rate for the loan.
I have given the complaint about this to the bank, but they have not responded to this. Kindly help me in getting the benefit I deserve, do the needful.
Thank you
Dr Srikanth S
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