This is a discussion on fixed deposit in Sahara India within the Banking forums, part of the Business & Finance category; Sir, I have deposited Rs 10000/-in Sahara India under the fixed deposit scheme for a period of 3 years. I ...
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.
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