HI FRIENDS
I HAVE A FIXED DEPOSIT ACCOUNT IN A PUBLIC BANK . BUT I HAVE NOT RENEW IT FOR LAST 4 YRS, SHOULD I ELIGIBLE FOR INTEREST FOR THOSE 4 YRS OR NOT.
PLZ ADVICE
THANKS
pawan arora (student) 23 April 2010
HI FRIENDS
I HAVE A FIXED DEPOSIT ACCOUNT IN A PUBLIC BANK . BUT I HAVE NOT RENEW IT FOR LAST 4 YRS, SHOULD I ELIGIBLE FOR INTEREST FOR THOSE 4 YRS OR NOT.
PLZ ADVICE
THANKS
CA Adarsh Agrawal (CMD of SHAYVIDZ Group) 23 April 2010
Sorry ! but u r not eligible if the renewal of FD was not done at the time of maturity.
radha (freelancer) 25 April 2010
Usually banks provide the rollover fascility, and pay interest for the rollover period, ar the prevailing rates .
However in your case,you may visit the concerned bank, and ask for the fate.
You can try to find out the rules from the Bank's website.
The bank shall pay the interest as per the rules and policies.
Did you change your address during this period.
Did you receive any communication from the bank during this period.