I have credit card of SBI bank.

For June 2015 credit card use, 12th July 2015 was last date of payment. I have made payment on 12th July. As 12th July was Sunday payment received by bank on Monday. Even though I have made payment on date bank have charged me with late payment fees of Rs.750/-. As per reference to recent news RBI have directed to give three days grace period for payment because of Holiday.

I asked to customer care for reversal of late payment fee, but they are saying they have not received any directions from RBI. 2 months before they have charged me with same reason.

Please help in resolving the issue.

Amir Shaikh
Indira Nagar, Chinchwad 411019, Maharashtra
Email: shaikh.amir101@gmail.com / 28/07/2015 / 4:34 am

This article has 1 comment

  1. Hi Amir,

    I went through your complaint and completely agree that the RBI have given three days grace period over and above the due date to make the payment. This announcement was done in July 2015. The RBI circular date 16 July 2015 had a proposal of changing norms for classification of NPAs for banks in case of delayed payment and also gave card holders a three day grace period to make their payments.

    Here the payment which you have done is before the announcement which is the reason why the bank is not reversing the charges. Hence, you will have to make the payment of the late payment charged or else it will go on piling up and a huge interest rate will be applied.

Leave a Reply

Your email address will not be published. Required fields are marked *

Answer the below question * Time limit is exhausted. Please reload CAPTCHA.