[Resolved]  ICICI Bank — Wrongful deduction and error in interest of recurring deposit

Address:

Bangalore, Karnataka

Dear Sir/Madam: I had opened a recurring deposit in May 2013 for a period of 12 months at an interest rate of 7.5 %. The monthly deduction to be effected form my savings bank account with the said bank was Rs. 5000. In the month of May 2013, an additional amount of Rs. 5000 was deducted without assigning any reason whatsoever. Despite several inquiries about this matter, no reply was forthcoming form the bank. Also, the interest calculated by the bank compounded quarterly was in error. When this was pointed out I was informed that they will send me the interest calculation as an excel file. However, I was informed that they cannot share the information as it was confidential. I have sent several mails in this matter and have not received a reply from the bank. Kindly help me out in this matter. The amount involved is not substantial, but, the attitude of the personnel is worrisome. If informed individuals can be treated thus, what would happen to lay persons without much knowledge about such matters. Needless to say, I loom forward to hearing from you. With best regards. Dr. Vijayshankar