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I am holding Axis Bank Premium Credit Card.
In the statement dated 18-02-2016 total outstanding dues were Rs. 1,28,907.32, with last date of payment as 09-03-2016.
Before the due date bank was paid Rs.1,26,179.32 and other credits Rs. 1844.48 i.e. total credit received by the bank was Rs.128023.80
Due to oversight Rs.883.52 were deposited short.
To my surprise bank debited to my account Rs.5123.25 as interest for ONE month on a meager short paid amount of Rs.883.52 (which works out to 580% PER MONTH or 6958% P.A.)
On my protest they are justifying their action as correct. Although they have confirmed the payments credited to the account and the dates as well.
Is there anyone who can take action against the bank for their UNFAIR TACTICS. more
But when they opened account about 8 years back .there were no charges for account holders for Draft.collection charges and so many.Now they are charging all .It is not good that u have changed rules as per your choice.My requirement is that it should Not be for old acc holders.You do with new one as they like