My Father went Chilkunda branch which is rural branch, for Crop loan they charge above 7% as per RBI and NABARD should not be more than 7% up to 3 lakh loan,
For Home loan they are charging 10.25% for an agrculture, and bank manager collect blank singed cheque debit the fund they way he want, currently most banks charge 8.65%
it is one of the non sense which conducting malpractices, frauds and no fair practices followed, see the interest rate charged, they don’t follow RBI are NABARAD policies,
find the details below, it is one unorganized bank and misusing the customer fund, no right response from bank manager Lokesh or Regional manager from Nagarj on this they claim they have right to do it.
We have raised a request earlier also but no right responses found, addition to this finding more problems, (old service request number #C366976]
I am subramanya here son of Rajappa K S( account Holder Saving account –Account Number SB A/C NO: 4065),
I thought this is a Rural Branch and provides same facilities to the customer as per RBI Rural banking policy( Especially for Agriculture).
My Father has a saving account with Chilkunda Branch( Hunsur Taluque, Mysore District) and finding huge problems with, huge gap in Communication on services, Misleading banking rights, Miss-using the a/c fund, Gap in re-presenting RBI and govt facilities to customer, Negligence in handling customer and services .
Problem no-1
Paid Installments
S/NO Date Amount
1 20-04-2011 40000
2 27-02-2012 70000
3 18-03-2013 70000
4 11-04-2013 70000
5 31-03-2015 90000
6 14-03-2016 91000
Total 431000
Have Home loan of Rs 4.5 lakh loan a/c no TSTL/1118, which is sanctioned on 22.12.2010 and disbursed in installment and same is re-paid as mentioned in the table,
For Rs 4.5 lakhs at the Rate of Interest of Base Rate+ 0.25%(Current Base Rate being 10.25%),
As on jan 1st 2017 you have charged 2.15 lakh rupees as a interest just for 6 year’s for Rs 4.5 lakh,
to pre close the same loan you’re asking to pay Rs 2, 33, 323/- as on 23/01/2017, ( As it is paid 43100 already)
where total re-payment amount will be Rs 6, 64323,
Customer is an agriculture and it is a Rural bank branch, there are certain guideline from RBI in this segment due to rural development, you also enjoy few benefits because you say this is rural branch,
How can you charge fixed interest rate of Rs 10.25% where even private banker’s also not charging( For 6 year’s)?
Is this misguiding to make money by breaking RBI policy?
Even customer had paid regularly than also you have collected 2.15 lakh as an interest rate as on 23/01/2017?
Show me where is the social concerns and RBI policy followed here.
Problem No -2
Availed in the same account an Agricultural Crop loan( Loan NO –ODKC1897) on 31/03/2015 with Rs 2, 25000, and same is repaid on 03/03/2015 with Rs 2, 28, 100 as advised by branch manager as well branch manager said interest will be deducted later since interest is not yet calculated,
Since we want to go for further facilities, Now branch manager is demanding to pay previous year Crop loan( paid loan as on 03/03/2015 with Rs 2, 28, 100) interest of Rs 28000,
Now Branch manager is saying out of paid crop loan Rs 2, 28, 100(paid loan as on 03/03/2015 with Rs 2, 28, 1000), Rs 3000 towards insurance amount.
Is your Branch manager is IRDA certified?
Did anyone IRDA certified person had explained this insurance plan?
Have you shared insurance documents to customer?
Did customer signed on any application? please share all these things,
Did customer given any standing instruction or issued any cheque here? please share all these things,
How can you deduct fund from customer account towards insurance even without explaining anything, after one year your saying it is deducted towards insurance, by breaking RBI and IRDA guidance( For insurance)? For Crop loan of Rs 2, 25, 000, for one year at Rural bank branch for an agriculture at what interest rate you have charged Rs 28000, is this as per RBI rural banking policy . After all this
At branch always found miscommunication, miss leaded, misused our fund, they never share correct information, always they do what they want to do than customer requirements,
Have treated worst because we don’t understand RBI policy on banking,
I hope as I am citizen of India I am coming to your bank branch because your bank is guided by RBI if not I have got many other option’s, Karnataka bank is not only bank in Indian market,
If I don’t get Facilities as per RBI policy of Rural banking, I would like to take this forward very strongly, enough of misusing and misleading of agriculture and rural customer .