State Bank of India - 5 year fixed term bond

No-name_2

A few weeks ago the State Bank of India were top of the fixed rate tables for a 5 year bond - 4.5%. So off I went to to their flagship City of London Branch to open one. One catch was that you needed to open a current account first - so I agreed to that and provided all the necessary information and documents there and then. I also gave them a cheque for my deposit into the account. At the very end of the process i was told that they would need 5-10 working days at least to open the account and then they would would pay the cheque in. Well that was 28th May - and to date nothing has been sent to me nor my cheque cashed - so I thought I'd update here as progress is made....

robotrobo

No-name wrote: »

A few weeks ago the State Bank of India were top of the fixed rate tables for a 5 year bond - 4.5%. So off I went to to their flagship City of London Branch to open one. One catch was that you needed to open a current account first - so I agreed to that and provided all the necessary information and documents there and then. I also gave them a cheque for my deposit into the account. At the very end of the process i was told that they would need 5-10 working days at least to open the account and then they would would pay the cheque in. Well that was 28th May - and to date nothing has been sent to me nor my cheque cashed - so I thought I'd update here as progress is made....

hi no name.
i have given you a name wooryier!!, i would be a little concerned myself , but give it a few more days or so & things will drop in place for you !;)

sabretoothtigger

Tell them who you are, it should help progress matters speedily

OneADay

sabretoothtigger wrote: »

Tell them who you are, it should help progress matters speedily

Seriously, that should say A Fistful of Rupees .... and some poppadoms.

Ifts

No-name wrote: »

At the very end of the process i was told that they would need 5-10 working days at least to open the account and then they would would pay the cheque in. Well that was 28th May - and to date nothing has been sent to me nor my cheque cashed

Bless em give em a chance, with all the extra days off for the Queens Jubilee, the 10th working day falls on today or tomorrow, then they have to pay the cheque in and wait for it to clear.

So like robotrobo states in their post don't panic, give it a little while longer and hopefully all will be well in the end.

Good luck.

No-name_2

Paperwork came through yesterday!

soulsaver

No-name wrote: »

Paperwork came through yesterday!

Good man; not that many come back and let us know the outcome...