Fixed Deposit with Peddar Road?

Question

Dear Sir, This is with reference to my saving account Pedder Road, Mumbai The following FD matured on 22 December and I have an SMS confirming the same. 31770158334 22-Dec-2015 The SMS received on Tuesday 22-Dec-2015 at 08:55 hours says ‘TDS of INR1, 806, 00 deducted for interest paid on A/c No. XXXXX158334’ However I do not see proceeds of the FD credited to my savings account as per my instructions to the bank vide email dated 2 Dec 2015. I had a similar experience during March 2015 when proceeds of another FD of mine did not appear as a credit in my bank account till some time. I wonder whether the Bank is enjoying the funds at my cost. Personally it has caused a lot of agony to me and the bank owes an explanation as well as needs to compensate me for this lapse. Regards Bharathi

Answer 1

Dear Bharathi

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

There could be a rare possibility that the FD proceeds might have been parked into an office account of the bank.  Please do talk to your branch relationship / manager to check the status and for immediate credit of the FD maturity amount.  Do caution them to be careful in future.

RAJA