Hi members,
On 4 December 2022 I booked an FD with SBM to get FD backed Paisabazar Rupay credit card. One year later, on January 2024 I received SMS that credit card has been closed due to non-usage. There was no prior intimation in non-compliance to RBI, escalated, got to RBI BO, got compensation only. A previous post made regarding that you can see here.
Now for FD: It was from 4 December 2022, 15,000 principal, 8% PA, for 735 days, due on 7 December 2024 for auto renewal. On 29 October 2024 I finally gave them cancelled cheque and they sent 16,325. I am sure I have received less.
The breakdown they gave was:
Here's the oringial FD details:
My doubts are:
-Why on specific date 4 June 2024 they 'liquidatd' the FD and changed rate? Unauthorised card closure was 6 months prior.
-No customer consent was sought or given for this liquidation
-can they arbitrarily close the FD on a specific date without authorisation?
-Can they randomly lessen the interest rate on a running FD?
-On 29 October I gave them my cheque, it should have been closed then....
Can anybody tell me how much I was paid less?
If anyone can make sense of it then please do help!
On 4 December 2022 I booked an FD with SBM to get FD backed Paisabazar Rupay credit card. One year later, on January 2024 I received SMS that credit card has been closed due to non-usage. There was no prior intimation in non-compliance to RBI, escalated, got to RBI BO, got compensation only. A previous post made regarding that you can see here.
Now for FD: It was from 4 December 2022, 15,000 principal, 8% PA, for 735 days, due on 7 December 2024 for auto renewal. On 29 October 2024 I finally gave them cancelled cheque and they sent 16,325. I am sure I have received less.
The breakdown they gave was:
Here's the oringial FD details:
My doubts are:
-Why on specific date 4 June 2024 they 'liquidatd' the FD and changed rate? Unauthorised card closure was 6 months prior.
-No customer consent was sought or given for this liquidation
-can they arbitrarily close the FD on a specific date without authorisation?
-Can they randomly lessen the interest rate on a running FD?
-On 29 October I gave them my cheque, it should have been closed then....
Can anybody tell me how much I was paid less?
If anyone can make sense of it then please do help!
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