I have a salary account with SBI PBB Orchard Branch, Sadashiv Nagar, Bangalore. On 24th November 2009, I have opened a Fixed Deposit for Rs. 300000/-. While opening a FD, I had clearly asked the employee (her name is Sandhya, who opened the FD) that whether any penalty will be charged if I break a FD before the maturity period and how much time it will take to get credited to my salary account. The employee said that nothing will be charged as penalty and the FD amount along with the interest will get credited immediately to my salary account.

Today, when I went and broke the FD, the bank has charged 1% penalty and given half the interest amount. Now on asking manager why this is so, he is not bothered to liestened to my complaint. Moreover, he is telling that what is proof that the his employee said so?

This is the clear cut case of ignorance on employees part as they should tell the customers all the rules and regulations during opening of account/FDs, etc.

Requesting you to take a strict action against the branch manager and the respective employee.

Regards,
Shruti