MY sister and I booked two vehicles using the installment plan of a private commercial bank. Af ter the application was filed, contrary to the bank`s earlier marketing offer, we were told to pay registration charges.

Thereaf ter, on approval of my application, I was advised to pay the down payment, which I did. After four days of the payment, I was told that the approval had been given mistakenly and I would have to pay additional and substantially higher down payment for the matter to proceed further.

In case I chose to withdraw my application, I was told, the already paid down payment would not be refunded promptly.

Leaving me with no choice, I paid the additional amount. Then the bank did not apply the Karachi inter-bank offered rate (Kibor) of the date on which this payment was debited from my account. Rather it waited for a few days till the Kibor rates went up, and charged me the higher rate.

After getting one of the two cars, I received a repayment schedule on bank`s letterhead, which was according to the calculation sheet that I had been provided earlier. I paid the first instalment, but, to my shock, I received a call from the bank, asking me to make additional payment.

When I argued that I was paying according to the bank`s repayment schedule, I was told that the schedule I received was incorrect, and that I needed to pay according to the amount appearing in the bank`s system.

Later, after continuous follow-ups, I received a new payment schedule, which was unofficially printed on a plain paper, wherein not only the payable amounts were increased, but the bank had reduced the portion of principal repayment and increased the portion of bank`s profit as well.

Strangely enough, both the schedules mentioned the same mark-up rates, but the revised schedule was for higher amounts. I made numerous calls to the bank branch concerned, filed complaints through email and the bank`s call centre, but all in vain.

The bank is continuing to mint higher and, I dare say, illegal returns.

As for the other car, my sister`s application had been approved for a four-year tenure and she had paid 30 per cent down payment, but the repayment schedule she received was for a five-year tenure and the down payment was magically reduced to 20pc.

Af ter lengthy follow-ups, we learnt that the bank on its own had reduced the advance by 10pc and deposited that amountto the repayment account. Why? Just to create the debt burden so that the tenure could be increased and the bank could make additional and, I dare say, illegal profits? Will the relevant authorities, including the regulator, look into this matter? Abid Jan Karachi