Wednesday, October 13, 2010

SB Interest on Daily Balances

On 1st October, 2010, I got a SMS from my Bank, informing Rs435/- has been credited to my Bank Account.

This was a bit surprising, as I was not expecting any credit to my SB Account.
On calling up the Bank's Call Centre, I was informed that the Rs435/-, is towards the SB interest.

I can only say W O W.
The source of this credit can be traced to the following Reserve Bank of India circular

So folks and go and check your Saving Bank Account.
And, yes, if you have not received any credit from the Bank,

01) Mail them
02) Phone their Call Centre
03) Talk to your local Bank Officer

Yes, feedback is expected.

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