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Kumaridevi (Ms)     04 April 2022

Bank: complaint pertains to deficiency in service

I am almost 70, and NRI visiting India.

I have an account with a nationalized bank for more than 25 years. Recently On 23.02 2022 I requested a bank officer in charge of NRI Cell to transfer my account from Pune branch to Mumbai branch. First the officer said that FD's can not be transferred from one branch to another. I was asked to write a request letter that I wish to transfer my account to the same branch in Mumbai. And the FD’s should be transferred on the maturity date. I wrote that in my request letter to the bank.

After half an hour, I realized my mistake. I went back to this officer and I explained that (a) I can not wait until the Fd’ s maturity dates in 2024; (b) I requested her to return my submitted letter so that I write that my Fds should be broken before maturity date. The officer neither returned the letter nor she would even listen to my request. She kept saying it is not advisable, it is not possible etc. without allowing me to speak !!

I requested Bank’s higher authority’s help. Finally the bank agreed to close all my Fds.

In meantime, one of my * FD got matured on 1.03.2022. The said officer in charge renewed it instead of depositing the said amount into my accounts !

Moreover, I am not informed after breaking Fds whether there will be penalty or lower interest rate is applicable. They do not say how much time will it take until the FDs amount will be credited into my account.

I would like to know, usually, how much time does it take to get money from FD prematurely closed?

What else do I need to know or do?



 7 Replies

G.L.N. Prasad (Retired employee.)     05 April 2022

This is the most serious harassment by the bank.  You are a consumer and issue a Registered notice as follows: Also file the letter in the website of the bank Customer care.  Believe me, the bank itself solves all your issues without your stepping out, as definitely the bank is not proper in treating you.  All these services are online and must be attended instantly maximum within 30 minutes after receiving letter.

NOTICE under CP Act dt.6th Apr, 2022


Branch Head,



The complainant ....................................(name ) is having ............................account at ............ Branch and demands certified copies of laid down norms/manual Extracts/Circular/ Rules and regulations on the following issues 

1. Transfering Term Deposit from one branch to another.

2.Automatic renewal of term deposit instead of crediting to savings bank after maturity.

3.The process of breaking one deposit during and after maturity to facilitate an extension of term deposit

4.All the applicable penalty clauses in term deposits.

4. The stipulated time frame for premature closure of a term deposit

Please take notice and provide the copies in tune with RBI/Bank directives within a week enabling me to file consumer complaints and complaints about filing complaints in Banking Ombudsman.


(Signature, name of depositoor, full postal address)


2 Like

Kishor Mehta (CEO)     05 April 2022

Bank is legally bound to transfer the proceeds of all FDR/TDR, matured or premature, to your savings/current account within one working day of the receipt of a written request to that effect. 

2 Like

G.L.N. Prasad (Retired employee.)     05 April 2022

Absolutely true, but Consumer Forum demands laid down procedure of that bank as Documentary evidence and the guidance was given to get those laid down rules.

1 Like

Kumaridevi (Ms)     07 April 2022

Thank you very much for your reply.  I complained about the matter on bank website, also went personally to their Head office. It has not helped much. I will do as you suggested.

G.L.N. Prasad (Retired employee.)     07 April 2022

Visit the Bank for a complaint only when it is a must. as some employees bark like dogs unitedly against helpless customers insulting him.   Always contact over the phone and record the conversation.  Send an only email or registered post mentioning the time and date of each conversation mentioning the name of that employee while making a complaint.  It is only a courtesy by customer to visit and talk to the concerned to save wastage of further time and man-hours for a simple issue.  The banker is bound to respond.  You ought to have mentioned the name of the Bank, as many of that bank employees might read your query and guidance. and a sincere employee can not bring bad reputation to his employer.

1 Like

Kumaridevi (Ms)     13 April 2022

I sent an email as you per your suggestion. The bank sent me reply:

" ...we apprise you that our norms in vogue pertaining to general banking operations in respect of various customer segments are in tune with the RBI guidelines which are readily available on the RBI website for perusal of general public. We advice you to refer the same."

On my request, the bank officer has sent me 1 financial year interest I had earned on my FDs.I am shocked that it is not correct !!

I was suppose to leave India on 30.03.2022.  If I take a help of a lawyer, will he/she be able to get my bank work done within next month? Can a lawyer get the bank do their duty properly?





shrikant v. sathe (retired)     02 November 2022


     The bank fd will be pre matured within 1 day , means if you give appliocation with fd receipt, then it will credit the preceeds maximum next day. Secondly there a master circular of the Reserve bank that  the bank must inform to the customer regarding penal interest while accepting the deposit . Has the bank told you regarding this?If not then bank should not debit penal interest.

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