PPF — transfer from icici to hdfc — interest vanished | |||
I had requested transfer of ppf account from icici to hdfc. Icici had goofed up in sending the transfer request to wrong branch. This resulted in delay in opening account in hdfc home branch by 2 months after i traced this courier without any support from icici. Icici statements shows principal amount as well the interest on 31st march 2017. However they have transferred only the principal amount to hdfc. Icici claims that as the account has been closed on 31st march, they are not liable to pay interest as per the below ppf notification. On the other hand, hdfc uses this same notification and says that as the account has been opened in may, 2017, they are not liable to pay the interest “the bank or the head post office transferring the account will add the interest up to the preceding 31st march in the account before the account is transferred. The interest from 1st april onwards will be added by the transferee office after the close of the year. As per rule 8 of the scheme the interest in the account is to be credited only at the end of the each year and not in the middle of the year” Now the question is where is my interest? Who will pay me? With whom do i follow up? Was this information helpful? | |||
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