will bank pay me my accrued Interest Credit if I close my account?

[zomato]

as the title suggest: I have almost 1k in interest accrued and thinking to close the account, will bank pay me that? my initial thoughts are that they won't, can someone tell me what will they do? or should I just wait for some weeks?

 

[DarthYoda]

as the title suggest: I have almost 1k in interest accrued and thinking to close the account, will bank pay me that? my initial thoughts are that they won't, can someone tell me what will they do? or should I just wait for some weeks?

Yes, tell them to transfer it to your other account and they will do it happily.
In statement it will show ACT - account closure Transaction.
PS - i transferred in my other account in the same bank.

 

[zomato]

Yes, tell them to transfer it to your other account and they will do it happily.
In statement it will show ACT - account closure Transaction.
PS - i transferred in my other account in the same bank.

I should ask them about this right?

 

[varun__goel_]

as the title suggest: I have almost 1k in interest accrued and thinking to close the account, will bank pay me that? my initial thoughts are that they won't, can someone tell me what will they do? or should I just wait for some weeks?

Yes it will be done automatically, just provide you other acc details

 

[thanix]

as the title suggest: I have almost 1k in interest accrued and thinking to close the account, will bank pay me that? my initial thoughts are that they won't, can someone tell me what will they do? or should I just wait for some weeks?

Of course, yes. When you give closure request, they will manually calculate the interest accrued till then and give it to you by cheque and close the account. Some banks will do NEFT if you give an alternate account number.

 

[kjs]

They will send a DD on registered address , dont wry they will not keep your single penny on account closure. In my case BOB calculated intrest just before closing account and asked me to tranfer to some other account thru UPI & in case of axis they sent me a DD on my address.

 

[zomato]

They will send a DD on registered address , dont wry they will not keep your single penny on account closure. In my case BOB calculated intrest just before closing account and asked me to tranfer to some other account thru UPI & in case of axis they sent me a DD on my address.

there are account closure charges for this variant

 

[zomato]

Of course, yes. When you give closure request, they will manually calculate the interest accrued till then and give it to you by cheque and close the account. Some banks will do NEFT if you give an alternate account number.

will have to go to branch for all this right? if my RM can come to my place for signatures on FD forms and other things can he come for this too? 🫣

 

[thanix]

there are account closure charges for this variant

Then they will deduct it and give remaining money.

 

[zomato]

Then they will deduct it and give remaining money.

so if I withdraw my funds beforehand, they will deduct this 200 from interest right?

 

[varun__goel_]

so if I withdraw my funds beforehand, they will deduct this 200 from interest right?

Most probably yes

 

[thanix]

so if I withdraw my funds beforehand, they will deduct this 200 from interest right?

If the accrued interest is more than 200, yes they will deduct from it.

 

[zomato]

If the accrued interest is more than 200, yes they will deduct from it.

okay. + 3

 

[thanix]

okay, additionally can you tell me which cc HDFC bank provide against FD?

Sorry couldn't help as I don't know. Please check and post your query in HDFC Credit card section.

 

[Hemang]

What is the difference between interest accrued and interest paid in the FD interest certificate ?

 

[Hemang]

What is the difference between interest accrued and interest paid in the FD interest certificate ?

For example, i downloaded my certificate, in above scenario, we should take both the sum of interest amount and accrued amount as interest income. ?

 

[SSV]

What is the difference between interest accrued and interest paid in the FD interest certificate ?

For example, i downloaded my certificate, in above scenario, we should take both the sum of interest amount and accrued amount as interest income. ?

Are you talking about including in ITR?
If so you need to add both and declare it as total interest income…

Interest paid: means this is the amount that was earned and paid into your account during the last FY

Interest accrued : this is the amount that was earned up to March 31st but still not yet paid into the account