Sample Letter to Bank Complaining Against Short Credit of Interest on Deposit

I beg to draw your attention to my above account and complain that the amount of quarterly interest credited to me by you falls short by ____________ (Amount). From the over-writing done in my pass-book by your staff I feel that there is some mistake somewhere in the calculation.

The figure of ____________ (Amount) posted in my pass-book has been subsequently changed to ____________ (Amount) for reasons unexplained to me. I do not know whether there has been any decline in the rate of interest but the short fall could be done topiary reason unless your staff takes the trouble of informing me. I, therefore, request you to please look into the matter and do the needful as soon as possible and advise me accordingly.

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Thanking you,

Yours faithfully,
(Name)
(Address)
Dated ________________

Reply to Complaint

To,
(Name)
(Address)

Dear Sir,

Re: Short credit of interest

We are in receipt of your letter dated ____________. In which you have drawn our attention to what you consider as our mistake in calculating the interest due on your deposit account no. ____________ for the last quarter.

Immediately on receipt of your letter, we referred to our books and the procedure of calculation of interest. We, however, found that we were not at all wrong in our calculation and the correct amount of ____________ (Amount) has been credited to your account.

You were perhaps not aware that the rate of interest on deposits has been lowered by the government by half percent and it now is fixed at five percent per annum.

We also draw your attention to the terms of interest accruals on deposits as given in the first few pages of the pass book.

According to clause 60, no interest is allowed for a particular month if the account holder makes more than ten withdrawals. As such no interest fell due to you for the last month of the last quarter because you had made ____________ (No. of Withdrawals).

Let us hope the position will be very clear to you now and you will agree that there was no short credit of interest in your case.

Thanking you and assuring you of our best service,

Yours faithfully,
(Your Name)
Branch Manager
Dated ___________

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