I am a SBI credit card holder and based on SBI credit card they offered me a loan of 1.22 lac which they said @ 8.5% pa na, they mentioned the details, while taking confirmation from for the loan I asked them very clearly any extra charges they said no, now they are adding GST charges apart from my loan amount and the this is the reply I got from SBI CEO Dear Mr. Damodar Rao,
Warm Greetings for the day!
We wish to inform you that our investigation revealed that while booking the Ensach loan the GST has been communicated. Hence, we are unable to provide the reversal for the same.
Please be informed that 12.36% (effective May 08, 2007) government service tax is applied on the all charges(applicable on EMI also), which is payable by the cardholder. Thus, each month, these charges would be levied on your SBI card account.
Please feel free to contact us should you require any further assistance or clarification.
Yours sincerely,
Kavitha Rangaswamy
From CEO Desk SBI Card