ICICI Bank
Penalty Charges on FDR

Hi,

I have made an FDR through ICICI Bank Phonebanking options. Today when I called them up for pre mature withdrawal of my FDR, the Customer Service Executive told me that I will be charged 1 % Penalty on FDR Amount. While I was making an FDR this was not brought to my notice. Again on FDR receipts this condition is not listed. Normally Banks do pay interest (based on the duration and Rate of interest that were in vogue at the time of making FDR). No Bank charges penalty and even if it is charged it should be made clear to the customer. How do I go about it?

Company: ICICI Bank
Country: India

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