Thanks Sri G K. I wrote what I experienced in 2018.
If you talk to the manager, pl let us know. I will also post once I talk to SBI officials. I suggest, if circumstances so warrant, to opt for quarterly credit of interest to the SB account. That way one can take the benefit of higher interest rates and also one's cash needs. Everything depends on what one's needs are. There are also short term deposits but interest rates depend on demand and supply for each tenure but they are generally less than that of long term FDs. Last year HDFC Bank offered a slightly higher rate of interest ( compared to what was offered by others) but the tenure was fixed with no right to pre close; the bank does this to meet a specific liability of theirs - asset liability matching. But subsequently interest rates went up as the RBI hiked the rates. N Sekar Sent from Yahoo Mail on Android <https://mail.onelink.me/107872968?pid=nativeplacement&c=Global_Acquisition_YMktg_315_Internal_EmailSignature&af_sub1=Acquisition&af_sub2=Global_YMktg&af_sub3=&af_sub4=100000604&af_sub5=EmailSignature__Static_> On Thu, Sep 28, 2023 at 6:04 PM, 'gopala krishnan' via KeralaIyers <[email protected]> wrote: Dear Mr Sekar, I made the response based on the experience of SriRamajayam with Bank of India, the Branch manager showing RBI regulation to close the T D R before maturity either or survivor case. He posted it in our forum. I will also going to S B I in another two days and hope I could contact manager. All others will be busy to dispose tokens. One point you have written is salient, make deposit for 3 months so that maturity date will be near. But the main problem is since *Husbands carry out all works, women folks are least bothered about all these things or any talks on these subjects. * One important item is family pension. So far the bank processed. Now in Telecom it is circle pension section do it. This means for my family pension case *when if it occurs it has to be processed in Trivandrum. So now the instruction given to my son has to be changed.* According to* Sri Ramajayam, consent from all children is required to pay the either or survivor FD to wife of late husband, when money was immediately required ...* *Further if will is prepared they require will copy. Then what purpose is served by E or S T D Rs. Pathetic situation especially if T D Rs are for large amounts. * *In present days it is quite natural one son/ daughter may deny to sign consent on one ground or other. or away in foreign country * *Gopalakrishnan. * On Thursday, 28 September, 2023 at 03:12:13 pm IST, Narayanaswamy Sekar < [email protected]> wrote: Thanks Sri Mani and Sri G K for your responses. Sri G K, My response to your points - just my opinion and you or others may differ. 1. Putting everything in S B is not advisable as SB accounts will give low interest. My father had 3 FDs with SBI ( he split the total amount into 3 and created 3 as in case of need we can break one). He had it jointly with my sister and nominated my brother and sister in 2 and 1 respectively as I was not in India. On his death, the bank gave my sister two options: 1. To continue the deposit with the same rates till maturity - To the best of my recollection as I went to the bank with her. 2. Close them then and there and do whatever she wants thereafter. Interest accrued will be as per old rates. Since the joint holder (either or survivor) was alive, the nominees didn't matter. My father had no Will, only what he orally told us. My sister retained one till maturity and closed the other 2 and gave the proceeds to my brother as per my father's and my wishes. This was in Oct 2018. So I am not aware of the issue you have raised. I am in Chennai now and will visit SBI and will write what they say regarding your points. It may take a few days. One can split total amount into 3 or 4 FDs depending on the amount and can even create FDs for different tenure. Nobody knows when will death come. Better keep roughly one years's expenses in SB or even better, opt for quarterly, half yearly interest credits on the FDs so one will always get Ithe interest credited to the SB account every qtr or semi annually or even annually if one desires - to take care of running expenses. Best course is to visit your branch And discuss with them your concerns And opt for the best option, based on your needs. I would do that (have done that) instead of relying on what we read or hear. Nothing better than that, that comes from the horse's mouth - here the your bank. N Sekar Sent from Yahoo Mail on Android <https://mail.onelink.me/107872968?pid=nativeplacement&c=Global_Acquisition_YMktg_315_Internal_EmailSignature&af_sub1=Acquisition&af_sub2=Global_YMktg&af_sub3=&af_sub4=100000604&af_sub5=EmailSignature__Static_> On Thu, Sep 28, 2023 at 11:56 AM, 'gopala krishnan' via iyer123 <[email protected]> wrote: Dear Mr Sekar, Why can't even educated persons aspire normal interest? One of my colleagues invested a lot of money after retirement in a telecom co operative society for slightly more interest. There may be many such. Telecom department announced V R S, most opted and society became bankrupt, those took V R S left with out paying society dues, address not known. Invest half in F D in a nationalized bank and balance in savings deposit, handy to have cash. Recently I read difficulty in closing FD in nationalized banks in either or survivor cases even after producing death certificate before maturity. Very pathetic R B I guidelines, to close only on maturity date is possible. So Better have all savings in SB - Best choice. Those ailing may close all FD before maturity. Let us have meager interest. But no difficulty. Gopalakrishnan On Thursday, 28 September, 2023 at 11:14:32 am IST, Narayanaswamy Sekar < [email protected]> wrote: >From OpIndia https://www.opindia.com/2023/09/kerala-ktdfc-unable-to-pay-ramakrishna-missions-fd-worth-130-crores-rbi-to-cancel-license/ My comments: Be careful about where you invest, higher rates may, repeat, may carry higher risk. Even R K Mutt is a victim here. It is not just Kerala but Most of the states are broke as they give freebies to win elections but bankrupt the economy. N Sekar -- You received this message because you are subscribed to the Google Groups "iyer123" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. 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