[Resolved]  Retired Army Officer — Premature FDR payment is incorrect

Address:

Bharatpur, Rajasthan

Ph - 230034 Smt Sarwati Devi & Bijendra Singh
Ram Krishna Puram, American Gate
Achnera road
Email – [protected]@yahoo.com Bharat Pur (Rajasthan)


To, Date – 14 Apr 2010
The CEO, SBI Grievance Cell
Delhi

Dear Sir,

1. There were three normal FDR’s issued on the names of Smt Sarwati Devi and Bijendra Singh being senior citizen for the 48 months the details are as under-

State Bank of India Krishna Nagar, Bharatpur (Rajasthan)

Ser no Names Bank
FDR No Account No Amount in Rs Date of
Issue Int (%) Maturity Amount Due Date Months

1 Smt Sarwati & Bijendra Singh
350026 [protected] 200000.00 02/03/2007 9.75 294018.00 02/03/2011 48
2 Smt Sarwati & Bijendra Singh
350027 [protected] 400000.00 02/03/2007 9.75 588035.00 02/03/2011 48
3 Smt Sarwati & Bijendra Singh 350028 [protected] 400000.00 02/03/2007 9.75 588035.00 02/03/2011 48
Total 1000000.00 1470088.00
Note – normal interest rate was 9.25 % Plus 0.5% for senior citizen


2. Premature amount received after 37 months and other details are given below –

State Bank of India Krishna Nagar, Bharatpur (Rajasthan)

Ser no Amount in Rs Maturity Amount Due Date Premature
Amt Recd Premature
Date Recd FDR Time
Months Tax Deducted Tax Year

1 200000.00 294018.00 02/03/2011 251934.00 13/04/2010 37 4201.00 2007- 08
2 400000.00 588035.00 02/03/2011 503869.00 13/04/2010 37 31/03/2008
3 400000.00 588035.00 02/03/2011 503869.00 13/04/2010 37
1000000.00 1470088.00 1259672.00

Names- Smt Sarwati Devi & Bijendra Singh

3. In Mar 2007 the interest rate was around 9% for three years and above time period .The difference between matured amount and Premature is Rs 210416.oo for 11 months it is too much .

4. I want to know the followings –

(a) How much interest rate is calculated for payment for the period of 37 months?
(b) In addition to the interest rate have you given 0.5% for senior citizen?
(c) The interest rate given is correct?

5. You are requested to recalculate my payment on FDR’s and credit the difference in the same saving account no -[protected] at the earliest.



Yours sincerely




Smt Sarwati Devi & Bijendra Singh