Bank denies premature withdraw of fixed deposit
SOMENATH DHAR
(Querist) 25 June 2023
This query is : Resolved
I want to premature closure of the FD for which duplicate certificate was issued. But bank says, since duplicate certificate was issued so I can't close it before maturity date. Request for your help and advise.
kavksatyanarayana
(Expert) 25 June 2023
If you premature the FD then Bank does not issue duplicate certificates. So if any problem is there complain to the ombudsman.
T. Kalaiselvan, Advocate
(Expert) 26 June 2023
Until and unless you do not disclose the facts any opinion rendered based on your statement may be a misleading one to you.
Therefore please let us know that why did you obtain a duplicate certificate and what are the terms for closing the FD before the date of maturity, whether you have applied for closing the FD in writing and whether the bank manager refused to oblige in writing.
If so what was the reason quoted in the reply
Dr. J C Vashista
(Expert) 26 June 2023
Facts posted are not clear.
Duplicate certificate of FD has been issued by the bank only, isn't it ? If so, how and why they can refuse to accept ?
T. Kalaiselvan, Advocate
(Expert) 27 June 2023
If the duplicate certificate for the FD was issued by the bank then it cannot deny permission to close the FD before date of maturity, however if the duplicate certificate was created by you then the bank may not entertain your application
Dr. J C Vashista
(Expert) 27 June 2023
Bank has no power / authority to get FD foreclosed, if the account-holder desire so.
