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Summary: Wrong calculation for interest rate

After facing a stone wall for nearly two months, I am forced to write this complaint letter to Gulf News. I am an excellency customer, high net worth account holder, with Abu Dhabi Commercial Bank (ADCB) for about 15 years or more.

ADCB keeps launching various schemes, so as to entice their excellency customers to bring in more funds to their bank. I was a participant of such a scheme launched in March 2018, wherein we were asked to bring in fresh funds from outside, and if we deposited them in their bank for the period of April to June, 2018, all new funds would get interest paid at five per cent per annum.

I brought in funds during April and kept the money there till end of July. The bank took one month after June 30, end of the promotion period, to credit the interest due to my account. I was shocked to notice that they paid me less.

Since then, I have been complaining and writing to them, but to no avail. I even did the calculation and sent it to them and the bank representatives agreed verbally that my calculation was correct. However, the bank refuses to disclose their calculation, a bank secret they say, or review mine and prove me wrong.

They have been dragging their feet for more than 45 days now. I seek an urgent meeting with the responsible authorities in ADCB and can prove the correctness of my calculations. Can I seek Gulf News' intervention and help in getting me my just dues?

From Mr Sajan Bhatia


The management of ADCB responds: Thank you for your cooperation and communication with us in the endeavour to best serve our customers and resolve their issues.

Customer satisfaction is at the very top of our agenda, which is why we have an established Service Quality Unit that is dedicated to handling all customer enquiries and complaints. While we cannot comment on specific customer cases, we do take finding a solution for our customers very seriously and approach every situation with the best interest of the customer in mind.

With reference to Mr Bhatia's issue, please be advised that our Service Quality Unit has thoroughly investigated the issue and confirmed that any additional interest due has been credited to the customer's account. Our customer care representatives from ADCB have spoken to Mr Bhatia and informed him about the bank's decision and the client has accepted the resolution offered. Case is closed.

We continually urge all customers to contact our Service Quality Unit 24/7 by phone, email or web, should they need any further clarification regarding their issues.

We would like to thank you for bringing this issue to our attention and hence giving us the opportunity to further our servicing to our valued customers.

Mr Bhatia responds: I am pleased to declare that ADCB have credited my account with an amount of Dh7,800. I am glad to have been able to prove my valid point to ADCB.

(Process initiation: September 23. Response from organisation: September 27. Reader confirmation: September 28.)

Editor's note: Do you have similar issues that you would like to raise with us? You can write to us at

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Publication:Gulf News (United Arab Emirates)
Date:Jan 6, 2019
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