COMPLAINT RELATED TO FIXED DEPOSITS
The normal FD Processing time in all FD Companies is 3 to 6 weeks. First, ensure that the Investment cheque is cleared from your Bank Account. Once the cheque is cleared and the stipulated time is over, the client may either contact the Relationship Manager or write to email@example.com along with the cheque details and we shall revert back to the client in 24 Hours.
Most of the Companies pay Interest through the ECS Mode these days, the rest of them send Interest Warrants for current financial year to all the depositors in the beginning of the year itself. In case of a Cumulative Scheme, interest is paid at the time of maturity only. In case of ECS, you can check your bank account on the interest credit date. In case a client does not get the Interest on time, the client may either contact the Relationship Manager or write to firstname.lastname@example.org with the complete FD Details and we shall revert back to the client in 24 Hours.
The duly discharged FDR is to be surrendered with the Company 21 Days before the Maturity date to ensure timely payment. In case the FDR is not surrendered on time, it will take 21 working days to get the Maturity Payment. In case of further delay, the client may mark a mail to email@example.com with the complete FD Dispatch Details and we shall revert back to the client in 24 Hours.
Normally, it takes 3 working days for cheque clearance after the submission of the application in the Bank. In case the cheque is not cleared, the client may contact the bank regarding the bouncing of a cheque or else a client may contact the Relationship Manager.
TDS @ 10% is deducted in case of Interest of Rs. 5,000 or above in a Financial Year. (TDS rate may be subject to change as per the applicable provision of Income Tax Act , 1961).For TDS not to be deducted, the client may have to submit Form 15G/H at the time of investment or in the beginning of every Financial Year in case of an ongoing FD. Also ensure the current and updated formats are duly filled and signed before submission. The forms should be submitted in duplicate. Still, in case a client finds any problem related to wrong deduction of TDS, the client may write to firstname.lastname@example.org and we shall revert to you in 24 Hours.
The FD Companies issue TDS Certificates in the month of June every year. In case of non receipt of the same till 25th June, the client may contact the Relationship Manager or may write to email@example.com and we shall revert to the client in 24 Hours.
In case the FDR is lost in transit or not found, the indemnity bond( such after document as per the internal policy/rule of the respective principal Company) is to be executed on the required value of the stamp paper and the Company will issue a duplicate FDR within 21 working days. For the Indemnity Bond Format, client will have to give a request letter to the Relationship Manager.
In case of misprinting on the Fixed Deposit Receipt, the client may give a request letter along with the required proof and original FDR to the Relationship Manager for correction of the same. The processing time is 1 month and fresh FD Receipt will be received by the client directly from the principal Company.
This policy document is the property of Bajaj Capital Limited and is for use only by Bajaj Capital Limited or any of its group Companies. It must not be copied, disclosed, circulated or referred to in correspondence with external parties or discussed with any other third party other than for any regulatory requirements without prior written consent from Head of Complaints or any other nominated personnel.