Forgot to open bank fixed deposit

705 votes

In this situation, where there was a delay in opening the Fixed Deposit (FD) due to an oversight, and the customer is now requesting additional interest for the 11 days between the intended FD opening date (5th August 2025) and the actual FD opening date (16th August 2025), the following steps can be considered: Bank's Policy on Delay, and Cheque Clearing Time. Acknowledge the Mistake: Be transparent with the customer. Acknowledge the delay was an internal error on your part. Customers are more likely to be understanding when the issue is addressed professionally. Explain the Situation. Possible Outcome: If you decide to compensate the customer, offering an additional 11 days of interest or some other form of goodwill can help maintain a positive relationship. If the bank's policy doesn't allow compensation, explain the reasoning professionally and provide an alternative form of goodwill, such as a small benefit.

Advocate Joyson Pereira LawRato

676 votes

As per RBI guidelines FD cannot normally be backdated and if a customer had given a written instruction on dated 2 August 2025 to open FD. Then immediately after clearance of check, FD should have been opened on 5 August 2025 and if the bank staff has failed to act this becomes a Service Lapse in such cases banks usually pay Ex- Gratia/compensatory interest for the lost period

Advocate Mahrukh Khan LawRato