nice and informative i for one found out that though nationalised banks for some reason even if you have an excellent banking record cannot match up to institutions like icici who seem to have an edge for some unforseen reason,
but one advantage is like stated above they do not have a hidden costs or any such concepts and are straight forward,
true to not opt for ecs as there it is governed and debited directly to the bankers account in the RBI through the ecs cleared bank,
here the debit happens on the given date even if it is a holiday wherein say you have given a ecs on 5th and your salary slip etc does not clear due to some holiday or any such eventualities in the SAME bank your payment bounces as the debit happens electronically without any manual interference,
in pdc case law is the same for credit or debit,and in a worst case scenario a manual interference(OD)is possible,
now this point is important to be carefull in keeping track of our re-payments and avoiding hefty penalty(bouncing)and keeping our crediblity and reletionship healthy. |