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Old 16th October 2008, 17:56   #16
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I doubt, this would actually happen.
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Old 16th October 2008, 18:12   #17
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Quote:
Originally Posted by Spitfire View Post
Why dont you get a Debit card from them?
Not the complete solution is it.
I already have the debit card.
Can withdraw only 20000 in a day
No deposit facility
And for business needs, probably won't serve the purpose
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Old 16th October 2008, 18:35   #18
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Quote:
Originally Posted by RAC View Post
Not the complete solution is it.
I already have the debit card.
Can withdraw only 20000 in a day
No deposit facility
And for business needs, probably won't serve the purpose
Totally OT: Cant you get a higher limit on your card? I think thats possible. Deposit could be an issue too.

But i remember(my dad used to be a banker in BOI) the business folks always got priority over smaller account holders - what with they having a whole fat booklet of withdrawal slips and deposit slips given to them and a separate teller.

But yes i never deal with big money so not very sure how it works now.
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Old 16th October 2008, 18:53   #19
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If at all the news is true, then Tata is trying to take advantage of the fact that Nano is a cheap People's cars. Wrong attitude from Tata are mild words for this activity.

I hope that this news is not true. But internet searching confirms this news.
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Old 16th October 2008, 18:55   #20
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Quote:
Originally Posted by Spitfire View Post
Totally OT: Cant you get a higher limit on your card? I think thats possible. Deposit could be an issue too.

But i remember(my dad used to be a banker in BOI) the business folks always got priority over smaller account holders - what with they having a whole fat booklet of withdrawal slips and deposit slips given to them and a separate teller.

But yes i never deal with big money so not very sure how it works now.

"big money" - sighhhh...when will I.......

Ps: Hope you don't mis-understand me. I am a simple guy in a non-IT service line. So no big money here. And how I wish there is 20K in the account after every 2nd/3rd of the month :-(

My posts were not about me.

My first post was on a general state of the bank branch in our locality and does not apply to all the branches.
And my 2nd post was a reply to your post and on the limitations of a general debit cards issued by these banks.

I hope you do not take this seriously.
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Old 16th October 2008, 19:04   #21
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Isn't this the same logic as buying a car only through the authorized dealers? I fail to understand the fuss.

I mean - I can't walk into Concorde and demand to buy a Maruti saying monopoly / rights etc.
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Old 16th October 2008, 19:08   #22
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Quote:
Originally Posted by RAC View Post

As of now, we need to go in the morning to take a token number and come back sometime in the afternoon or evening to deposit or withdraw money.
The waiting time is minimum 4 hours unless you are there before the shutters are open and run in as soon as they are opened.

The waiting times are frustratingly long. Day before yesterday when i went to the bank, account holders were actually walking out of the bank and I heard the teller say that there were around 400 members waiting, so they had stopped issuing the tokens.

Dude, this works sometimes... https://www.onlinesbi.com/

I hardly visit SBI, but all my transactions are at my finger tips. Get the free internet kit from them and forget tokens.

I also hold a Citi Bank account, most of Citi ATMs allow to deposit cash, and then do online funds transfer !

Last edited by sary : 16th October 2008 at 19:10.
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Old 16th October 2008, 19:22   #23
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SBI account holders then will have advantage over others in availing a loan from SBI. SBI account holders can easily be sanctioned a loan based on there account transactions over a person who doesn't have account with them. Maybe preference will be given ahead of non account holders in sanctioning a loan for Nano.
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Old 16th October 2008, 19:58   #24
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Quote:
Originally Posted by bblost View Post
The nano will maybe cost about 1.5 lakhs on road.

If you dont want SBI Car loan then simply take a personal loan from any other bank.
I dont think the EMI values will be very different for such a low sum of money.

EMI for 1.5 lakhs for 3 years:
at 8% Rs 4381
at 14% Rs 4846

Calculated using the EMI calculator in hsbc.co.in
Dude 465 INR (4846-4381) per month for a person who wil have a middle income would surely be a add-on. So it does make the person to think twice. Also imagine the total cost you would incur at the end of 3yrs.

i.e. 465*36months = 16740INR would be the extra money that you would have paid for the loan amount. Isnt that significant??? It would be like this hitting our own head towards the wall by taking a meagre amount but paying higher interests.
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Old 16th October 2008, 19:59   #25
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Hi RAC!

This is surprising. Which brach you are holding your account in? I was using SBI account for decades. I hold accounts in a small village in Andhra, and in IISc Brach in Bangalore. I am also having an account in ICICI bank. I found the transactions in SBI to much faster than the ICICI. I never stayed anything beyond 15mins in any SBI brach. I used to taken tokens about 6-7 years back. Not these days.

Regards,
Mohan.


Quote:
Originally Posted by RAC View Post
Don't know how it may work out finally, but I would like to mention the affairs at SBI in my locality.

As of now, we need to go in the morning to take a token number and come back sometime in the afternoon or evening to deposit or withdraw money.
The waiting time is minimum 4 hours unless you are there before the shutters are open and run in as soon as they are opened.

The waiting times are frustratingly long. Day before yesterday when i went to the bank, account holders were actually walking out of the bank and I heard the teller say that there were around 400 members waiting, so they had stopped issuing the tokens.
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Old 16th October 2008, 20:02   #26
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I thought that at Nano launch they said that they would price the car in such a way that you can buy it on a credit card. Now don't tell me that I should acquire an SBI credit card.
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Old 16th October 2008, 20:09   #27
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Dont we see such type of ads in the real estate? so and so appartment get its loan from particular bank for the project and builder arranges any loan with that bank only?
So, its just entering in to the automobile too. Wait, even now I think there are particular finance body which the dealer arranges loan through for their cars.
This is just an improved version of what is currently exisiting.
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Old 16th October 2008, 20:55   #28
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Quote:
Originally Posted by mjothi View Post
Dont we see such type of ads in the real estate? so and so appartment get its loan from particular bank for the project and builder arranges any loan with that bank only?
In case or real estate, if you want you can get loan from bank of your choice as well (though process would be lengthier). What this article suggests, is that no other bank would be able to finance car purchase.
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Old 16th October 2008, 21:01   #29
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Quote:
Originally Posted by RAC View Post
Don't know how it may work out finally, but I would like to mention the affairs at SBI in my locality.

As of now, we need to go in the morning to take a token number and come back sometime in the afternoon or evening to deposit or withdraw money.
The waiting time is minimum 4 hours unless you are there before the shutters are open and run in as soon as they are opened.

The waiting times are frustratingly long. Day before yesterday when i went to the bank, account holders were actually walking out of the bank and I heard the teller say that there were around 400 members waiting, so they had stopped issuing the tokens.
RAC,
Which branch are you talking about in Bangalore. I smell something fishy about your statement saying that 400 tokens were issued and the customers were walking out?
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Old 16th October 2008, 21:02   #30
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Who ever wants to buy will buy however it maybe so the issue is not worth of debating.
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