QuestionsCategory: sukanyaInterest
Hormaz Irani asked 8 months ago

I have opened sukanya account with Bank of Inda, Mumbai Main Branch and interest received as on 31-3-2016 at the prevailing rate of 9.2% is less.  I have written to Bank but no response I have received. 
Kindly help.

1 Answers
James Bond Staff answered 8 months ago

Kindly recheck your interest calculation. 
1. Interest is paid for a month, only for deposits done before 10th of that month
2. Interest will be compounded annually only
If still you find sbi calculations in error, take your problem higher up. 
Contact the zonal sbi officer in charge and they will surely help you out. You can get the officer’s contact details from sbi Website itself.