Location/place: Hyderabad
Hi,
I had taken Education Loan in Oct-2006 for my MCA studies from the SBI. SBI calculated the compound interest with personal loan interest percentages (Floating percentage) on my Education Loan. I raise complaint in SBI customer care. Branch manager responded to me like “we want all the floating educational interest rates from 2006 to till date. As we don’t have that information with us we need some time”.
It’s a fraud/ mistake of bank. So I want to put a letter to the SBI like “I am not going to repay the remaining amount because of fraud interest rates. Please close my loan.”
Actually I had taken total 1,47,000/- as loan amount for three years study.1st year-75,000/-, 2nd year-37,000/- and Final year 35000/-. I paid 1,53,000/- as of now as a repayment. Still 1,17,000/- is due.
Shall I put a letter like this? Or what I have to do please suggest me.
Thanks,
Kavitha
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