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suryagaurav (manager)     02 April 2011

axis bank not giving interst as printed on brochure

at the time of opening of account they ensure many facilities including Higher rate of interest on special account for women  which is called 'smart Privilege Account' by the bank.there are many promises which I am yet to receive from bank's part despite of opening of my account about two years before in july 2008.they have promised me these facilities as per their brochure also.:-
(1) Jewelery insurance--      not received any document yet.
(2) free monthly account statement--            not a single copy I received
 (3) interest same as Fixed Deposits to be provided to me-----                      only saving account int. given  

what should be done by me as they are not taking any action despite mailed twice. now they are denying and i have printed brochure with me.

please advise


 3 Replies

A V Vishal (Advocate)     03 April 2011

If the bank management is not responding to your grievances, then the only option is approach the bank ombudsman.

Kumar Doab (FIN)     03 April 2011

On the back of the brochure the vintage is printed i.e. the date of its printing, and usually a brochue is considered for 6 months provided there are no chnges in the interim period. The changes if any are to be under the notice of RBI.

Banks are suppossed to display the greivance reddressal system in the branch.


You may submit a written complaint email/letter to the Branch Manager, higher authority to BM, and nodal officer of the  bank. You can find their details from bank and their website.

This should resolve.

If your complaint is not resolved you can escalate to the MD,Chairman.

You can find the benefits as advertised in brochure were appicable on the date of submission of your appication or not thru RTI. If you wish you can obtain copy of your application form under fair practices code which bank has to comply with.

You can check with their Manager operations whether the brochure details were effective on that day or not.

If Banking Ombudsman (BO)has a office in your city, it shall be convenient or you can in person or thru a representative ( not a lawyer) can appear before BO.

If you have all te proofs, you can even lodge complaint with consumer forum.

Axis bank is otherwise very particular to implementations and technologically strong.

RAJU O.F., (Advocate)     04 April 2011

Banks change the schemes very frequently.  If you make complaint most probably, they would tell that those schemes are not prevalent now. You will be getting remedy only for the specific rates or facilities offered to you in writing.  I you are not satisfied with the customer service of one bank, switch over to another bank who are dependable. 

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