Wrong info from banks on 15% interest rate issue
I thank you most sincerely for your concern for senior citizen’s deposits. But the solution is still unclear, as I found out on Wednesday, March 4 at the NSB. Many elders were turned away in tears, for this.
For example I have two FDs at the NSB of which one is little over Rs. 900,000 and the second little over Rs. 200,000. I received 11.39 per cent monthly on the first deposit under the previous scheme of 12 per cent.
When I asked the NSB officer for 15 per cent on the Rs. 900,0000 deposit only, she said if I happen to have two FDs at NSB, I am not eligible to receive 15 per cent under the new scheme, even though its less than Rs. 1 million. Others were just as perplexed as I was. I had not requested for amalgamation of the two deposits either. I asked her for the reason for this rule. She said those are Central Bank instructions and I may appeal to the management of NSB if I wish.
I thought this is a classic example of how the concessions given to us by the new regime are diluted or not implemented.
Kingsley Candappa
Dehiwala.