We have cc account with a private bank.They are charging different rate of interest every month.There is a term OD variance in statement,they say the rate differs due to OD Varince.Please guide me how can i proceed with bank about it.
JAGDISH (SELFEMPLOYED) (50 Points)
10 December 2016We have cc account with a private bank.They are charging different rate of interest every month.There is a term OD variance in statement,they say the rate differs due to OD Varince.Please guide me how can i proceed with bank about it.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170798 Points)
Replied 13 December 2016
The rates of landing vary with RBI directives, and market rates as well, so you cannot do any thing there. Had your terms with the bank for overdraft on fixed rate of interest, it might have been even costlier, but would not have varied.
JAGDISH
(SELFEMPLOYED)
(50 Points)
Replied 13 December 2016
Thanks Sir,But what can we do now to negotiate with bank
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170798 Points)
Replied 13 December 2016
Ask bank for conversion of rate of interest on fixed rate basis. Some banks provide both option, may be your bank may or may not have that product.
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