I have deposited Rs 10000/-in Sahara India under the fixed deposit scheme for a period of 3 years. I was not able to take back the investment with interest after the expiry of the term. Now this investment is as it is in Sahara and it is now 5 years and more. When I approached the Sahara India branch for the return of the investment with interest , the officers said that you will be paid the interest of 3 years only along with invested amount. Since the amount remained with Sahara India for more than 3 years and they have utilized the money then they should give the interest of the period till it is under them. Moreover, they says u will have to write a letter requesting for the return of money and after 15 days you will be paid the full sum with interest of only 3 years.
My argument is if the amount is still there in bank with the utilization of the money with them, then they should pay interest for the 5 years (even though the period mentioned is 3 years ) and not for 3 years. Is the Sahara India employee not responsible for not informing me of the money after the expiry of the period so that I can take out at that time or else if the money is there , they should pay me interest of the full period till it is taken out.
Can u please suggest me what action is to be taken or what r the procedures to get the interest of 5years. Post Office and Other banks provide the interest even after keeping the money for more than the mentioned period.
please send the reply on firstname.lastname@example.org