Fixed Deposit Lien

Help
1

I am warning to all Jupiter members who have a fixed deposit in jupiter(federal bank). Specially who are thinking of a secure credit card with fd through jupiter.
Now, the matter is-
I booked a fd of 30K in May 2023 in jupiter. At that time i only have idfc wow card so i thought to take a credit card against my deposit in federal bank as it will boost my credit score. So recently due to hospitalization of my grandmother we are facing some financial problems so i have to close my card so i proceed to close card, cleared all due, raised request to close the card and card closed today. Then i tried to break my deposit through jupiter but it’s failed.
Then 1st i contacted Federal Bank team as i used federal bank Signet Credit card so i called them and they said you have to cantact jupiter team but again i tried to convince the same person that i took card from federal bank, they marked lien so what is the role of Jupiter here ? They said no you have to contact jupiter team.

Then i contacted jupiter team, explained all things then jupiter csa also agreed with me that if you used egde visa or egde rupay card then it’s our matter but as it’s federal bank card so it’s lien marked by their end.

Then i again contacted Federal Bank and explained all things happening they verified all details and they clearly said i can see your fd lien marked by jupiter team and mentioned reason is ‘NA’.

Now i need help. I am not gonna use customer care number they will tell the same for sure or not gonna use help section.

I am gonna visit federal bank branch Monday if the problem still exists. If the problem solved by jupiter team in mean time then no problem i am good.

And if still exists then no option left rather than RBI ombudsman.

And i have all the required call recordings of both side.

If any jupiter member thinking the same that to get a secured card of federal bank using deposit booked through jupiter ( i think I’ve seen some one who asking if it’s possible to get federal bank secured card using jupiter fd earlier) please don’t do it.

@Shawnpinto
@Nikhil_Godbole

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2

@Surojit_Ghosh Team is looking into the same and will revert.

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3

Thank you

4

That’s the main problem with this fintech companies if you face any problem you will be tossed between two entities.

Hope your issue gets resolved soon.

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5

Guess there is a big problem with integration between the products and service providers. :slightly_frowning_face:

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6

Any update? Or ETA ?

7

Update:Lien mark removed

2 Likes
9

LTF for Users who on boarded after april 2023.

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10

Your FD not marked lien for signet credit card, they have not linked with each other.

Maybe it’s happening because of any technical glitches of Jupiter.

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11

@sani Lien is marked by the bank and not Jupiter.

Also, the concerned had opted for a Credit Card (Secured) from the bank and not a co branded card from Jupiter.

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13

Can l get OD or secure credit card against Jupiter FD ( as a security deposit) directly from Federal Bank ?

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14

@sani Unfortunately, we don’t have that information with us.

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