Axis Bank / tax saver fixed deposit

Teppakulam Branch Madurai, India

I requested Axis bank Teppakulam branch in Madurai to open a tax saver FD on beginning of Jan 2019 with option to payout interest on monthly or quarterly basis. But they have technical issue (Software bug in the system) and FD was opened wrongly with the option for payout on maturity which is not what I want.

The branch said that they will sort this issue and change back to the scheme that I asked for, in a week or so. Now it about 2 months and no progress on the change.

After repeated followups, there is no proper answer from branch and from Axis bank support which is very annoying. They dont handle customers with proper response. Also they dont give any timeline of when this problem will solved. So we need to assume it may take years. Its now more than 2 months and there is no solution. I loose my interest amount. When I requested to close the FD account, they say there is not option to close. So my money has been locked by them.

Dinakaran R

Mar 5, 2019

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