I applied for a personal loan from Commercial Bank International (CBI) Dubai, in October 2013, for an amount of Dh370,000, and the tenure of 48 months. I started paying the monthly instalments from November 2013. As per the tenure, I should have completed my repayments as of October 2017. After the deduction of my payment of loan in October 2017, my loan account showed a balance again for one more payment, and some additional amounts, close to Dh2,000. Since it was an auto-debit format, the account usually doesn’t check for more details.
I checked with the call centre. They initially informed me that the bank had made me a promotional offer of one month differed payment during the month of August 2014. This was done by the bank officials themselves, and I had not requested for it, neither was there any confirmation from my end. Also, I had enough funds in my account during this time to make monthly payments. Still, the amount showing up as balance, was not matching as per the details provided. I told the agent that I was not clear about what they were trying to tell me, and she said she would get somebody to call me from the loan department, who could explain the issue better. I waited for the call for a couple of days, but nobody called. I called the bank again and spoke to another agent who gave me another explanation. This offer was given by the bank and there is additional interest charged on this differed payment. Unfortunately, the agent said he could not do anything about it.
I had no option other than to go to the branch and raise the same concern again. They told me they could not do anything from the branch and advised me to ring the call centre to make a complaint. On October 21, 2017, I called the bank and raised a complaint, to which, they said somebody would get back to me within three to four working days. I waited till October 27 and since nobody called, I called the bank again to get an update. Unfortunately, they informed me that the bank had closed the case, saying they couldn’t reverse the additional interest charged. How can the bank make a special promotion like this and charge extra interest on the payment without my confirmation, especially as there have been no delay in payments from my side? I would appreciate Gulf News’s intervention in this matter, as I would like to get a resolution as soon as possible. From Mr Sakkeer Hussain
Dubai
The management of CBI responds:
CBI’s priority is to provide our customers with a smooth and streamlined banking experience, and ensure that all information about their banking relationships remains private and confidential. We resolve complaints directly with our customers and endeavour to provide solutions that satisfy them.
Mr Hussain responds:
I would like to extend my sincere thanks to Gulf News, as after the newspaper’s intervention, CBI agreed to reverse the charges.
(Process initiation: January 13. Response from organisation: January 15. Process completion: March 14.)
Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.
