Bank makes Mortgage Payment Mistake



ORIGINAL POST
Posted by drumbrake 17 yrs ago
In my favour. Should I tell them?


Interest rates are falling, and my bank has sent me the latest statement. The rate should have gone down from 4.5% to 4.25%, but instead the rate shows 2.7643%! This saves me around HK$1000 a month.


So, should I tell the bank? Or should I wait for them to realise their mistake? If I wait for them, will their be any penalty for me - my interest payments are going way down and I don't want to be penalised in the future.


Thanks in advance.

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COMMENTS
drumbrake 17 yrs ago
Thanks everyone.


I'm writing to them asking them to check whether their figure is correct or not - I'll give them a chance to see their mistake.

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