SBI — less than promised interest given on a fixed deposit; so many letters submitted to sbi branch navyug market ghaziabad but none was replied.

Address:

63, dwarkadheesh apts, sector-12, dwarka,, New Delhi, Delhi, 110075

My father had a fixed deposit account no. [protected]with sbi, navyug market ghaziabad in which i was a nominee. My father expired last june and i made a claim to the bank. The bank settled the claim quickly.

On doing interest amount calculations using standard and universally accepted formulas i observed that the interest rate applied was way below than what was mentioned on the fd certificate. Let me inform that i myself am a financially qualified person.

I immediately requested the bank to furnish me interest calculations leading to final claim amount which they never provided. Their standard explanation is that the interest rate is calculated by software and we have no manual intervention.

I submitted my detailed calculations to the bank as per which there was a difference of approx. Rs 80, 000 in arriving at final claim amount. I asked the bank to either provide me their calculations or tell me if my calculations are wrong. The bank didn't reply.

I last submitted my letter dated 21.02.2019 to the bank giving them 15 days deadline to either make their stance clear or face legal action. Like earlier the bank didn't reply this letter also.

As all my request have fallen on deaf ears, i am left with no option but to take legal recourse.