HDFC Bank — Difference in interest shown and actually paid

Dear Sir

I am writing on behalf of my mother Mrs Gyanvati Kumar aged 85years, R/o No. 40, II Main Street, Lakshmi Nagar, Pondicherry - 605013.

She is holding a RD no [protected] from Centurion Bank(now HDFC Bank) which was for a period of 15months and was to mature on 10/1/2009. The maturity value shown on the book is Rs. 1, 59, 774/- whereas when she went to the bank on 13/1/2009 at 12:00noon to receive the money she was told that the maturity value would be Rs. 1, 58, 724/- only. Inspite of repeatedly asking the reason for the difference none of the staff was able to give a proper reply. She approached the Branch Manager Mr. Sivaraman also but he also could not reply properly. His attitude was "oh it is hardly a difference of Rs.1050/- ". Inspite of her age and her ill health she waited there for almost two hours (till 2:00pm) but to no avail.

She was told that they have to check their system and see why the difference is coming and it will take some time. Now she has further commitments for the amount and it has put her in great hardship as she is not able to fulfill her commitments. Also, she is losing interest on the amount. She then tried to give a written complaint to the Manager for the problem so that atleast she does not loose interest on the amount for the delay caused due to no fault of hers but he refused to accept the complaint.

Now she has been told by the Branch(HDFC Bank, 45Ft. Road Branch, Pondicherry) that the difference in the amount is due to the difference in the rate of interest shown on the book(9.5%) and the actual rate of interest paid(8.5%). Now this amounts to cheating the customer as she has been led to believe for the last 15months that she will be paid interest @9.5% whereas actually she is being paid interest @8.5% only. She has been going to the bank every month to deposit the monthly amount and nobody has bothered to tell her that there is difference in the rate of interest. If she knew the intererst rate is 8.5% she would have withdrawn the amount from your Bank.