I am a old customer of ICICI bank. In May-2007 I deposited some amount in Fix under their special scheme and unfortunately I linked that FD with my saving account. Recently due to need of fund, my saving balance goes below Rs.10, 000.
The same day ICICI bank transfered Rs 5000 from FD to saving account. The next day I again deposited some fund into the saving account. but ICICI bank not transfered Rs 5000 to my Fixed deposite account. I contacted them regarding the same problem. They told me that auto sweep option is not activated in your account so Rs 5000 can’t be transfered to FD.
They also told me that, they informed regarding the same in Oct-2005. As they mentioned, no amount was there in my FD. If auto sweep option is not available, how they transfered amount from FD to Saving account even though my balance falls below Rs 10000 and why not again transfered to FD after my balance goes above Rs 10000. For the FD, I never transfer fund from my saving account. I opened a FD from hard cash which was with me. I am asking them such a simple. But they are saying that, it is not in their rule. They also told me that, if u had a FD certificate, then such situation won’t be happened.
I am going to file a case against ICICI bank in consumer forum because of their one way rule. I am loosing a interest on Rs 5000.I will suggest to everyone, if you a going to open a FD, then never link with saving account. Ask them for certificate even though ICICI executive force you to link with saving account.