When my 5-year CD recently matured, the bank sent me a check for the accumulated balance in the account as I had requested. One problem - they didn't bother to sign the check! After a couple of phone calls and emails, they agreed to send a replacement check and additional per-diem interest (which I demanded) at the rate I could get by reinvesting in a 5-year CD elsewhere at that time.
Other annoyances include: no on-line account opening; no on-line access to check account balances and interest posting; and very poor understanding (on their part) of their own deposit account documents.
In the end, it worked out for me, but I doubt I will ever deposit funds with them again.
This bank has the most difficult application procedure of any bank I applied to, and I'm a member of over twenty banks. I simply wanted to purchase a CD. They required that my identifying documents be notarized and mailed! And after I spent literally hours fulfilling their requirements, they raised questions about my credit worthiness, even though I have an excellent credit score. It's as if they don't want customers. I finally decided not to do business with this 'unusual' organization.
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State Bank of India Locations | ||
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State Bank Of India | 460 Park Ave | New York, NY 10022 |