Cc - and interest statement on daily basis

hetalsangoi (Querist) 11 July 2014 This query is : Resolved
we have a cc account with bank .can we ask to bank to provide the daily basis cc interest charge statement ? can bank deny? why we borrower can not ask for this documents ? what r the renmdies ?

Follow Query

Report Abuse

Devajyoti Barman (Expert) 11 July 2014
professional query.

Dr J C Vashista (Expert) 12 July 2014
Meet the banker and seek answer to your query.

malipeddi jaggarao (Expert) 12 July 2014
The interest in CC accunt is calculated by the system (computerised) on daily basis only. However, the bank will provide you the statement on monthly basis and interest is also charged on monthly basis consolidating daily interest. If you are so keen, you yourself can calculate the interest on daily basis and compare with the monthly interest charged by the Bank.

Rajendra K Goyal (Expert) 12 July 2014
Well advised by the expert malipeddi jaggarao ji , interest is applied monthly after calculating it on daily rests.

You may take facility to view your account online or can also avail online transaction facility..

Bank may agree to give you daily statement after charging service charges for the extra service / facility provided.

ajay sethi (Expert) 12 July 2014
agree with Mr malipeddi

T. Kalaiselvan, Advocate (Expert) 13 July 2014
You query has been very properly addressed by expert Mr. Malipeddi Jagga Rao, you maytry that method to see it yourself whether the bank's details are proper or not.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now