State Bank Of India [SBI] — awkward amount of debit branch penalty imposed for e-rd

Address:

Kolkata, West Bengal, 700084

An awkward amount of debit branch penalty rs 6900 for a recurring deposit ac no[protected] has been imposed. When i have followed up with them multiple times, they had informed that it was due to non-payment of monthly installment for aug 2016.

As per sbi guidelines, the penalty is rs.1.50 per rs.100 per month. Since my e-rd installment amount was rs.20, 000/- and one installment was unpaid since the 2nd month after opening of e-rd a/c which was opened with a tenure of 24 months, rs.300/- was calculated as penalty by the system per month for the period of 23 months and thus the total amount was rs.6900/-.

Now the point is, sbi is trying to tell me that i have not paid the installment of august 2016, but the actual case in, while setting up the standing instruction online, it allowed me to set it up at 2nd every month. It has not informed me that my account will have this huge amount of fine in it. It did not throw any error also.

My questions are :

If a person slips the deadline of paying a single installment (For me it is august 2016), will he need to wait for the payment of the penalty of a lump sum amount?

If there is any way to overcome the same, why this is not communicated to me?

Why sbi debited the penalty amount on account closure at once, and without any communication/warning messages?

I have continued the account for 12 months and the system should deduct fine for 12 months only. The logic they have furnished seems absurd to me. If they are not paying the interest for the full tenure, then there is no right to deduct the penalty for the full tenure as well.

I am sharing the link for the faq's of erd of sbi. I am surprised to see that sbi even deducts penalty for a closed account as well.

https://www.onlinesbi.com/sbijava/osbi_e-RD_faq.html

Thanks,
Jayita