Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 23rd January 2016, 23:07   #421
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 66
Thanked: 26 Times
Default Re: Which bank to open an account in?

Guys, please check your bank account statements during the period May 20 - June 15, 2015. You might notice PMSBY or SBY and charge of Rs 12 debited without notice.
This is the "Pradhan Mantri Suraksha Bima Yojana" - an insurance scheme.
It is illegal, unscrupulous to issue insurance without permission.
This nuisance is prevalent mostly across Sarkari banks.
I wrote an email for one of my Sarkari accounts , they credited the amount immediately. For another account, I wrote an email to Banking ombudsman as the bank kept quiet for long time. Then they started responding.
It is not the question of Rs 12, but a question of integrity.
When Banks ask KYC, we should insist KYB (Know your bank) as well. Their accounts are in a mess with NPAs, Kingfisher fiasco, Crop loan waivers, Power company loan waivers etc.
manduvindupondu is offline   Reply With Quote
Old 23rd January 2016, 23:42   #422
Senior - BHPian
 
Join Date: Jul 2006
Location: Bombay
Posts: 1,016
Thanked: 646 Times
Default Re: Which bank to open an account in?

Quote:
Originally Posted by vinit.merchant View Post
Your inbox is full. Cannot pm you.
Quote:
Originally Posted by nowwhat? View Post
@Lalvaz, I too tried PMing you. Please let me know too about the zero balance Citi account.

It's been 3 months since we closed our 15-year old Citibank account due to a change of job and I do seem to miss them.
Here's the link to the Citibank website where details of the basic savings account is given. http://www.online.citibank.co.in/pro...gs-account.htm

This is different from the small account for which those restrictions apply. The BSBDA allows you to have the same features of the regular citi account without any minimum balance. I'm using it since sept 2015, prior to which I had a suvidha account for more than a decade. I still get monthly credits, debits, Internet banking, citi phone banking, debit, credit cards etc and no charges.

Hope this helps. If not, please pm me with your email ids and will forward the Citibank conversion email to you.

Cheers!
Lalvaz is offline   Reply With Quote
Old 25th January 2016, 10:12   #423
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 66
Thanked: 26 Times
Default Re: Which bank to open an account in?

All credits in a year cannot exceed 1 lakh . this clause is a bit difficult. Others are fine.
manduvindupondu is offline   Reply With Quote
Old 25th January 2016, 11:41   #424
Senior - BHPian
 
clevermax's Avatar
 
Join Date: Jun 2006
Location: Tvm/Amsterdam
Posts: 1,565
Thanked: 359 Times
Default Negative balance growing in my non-operative account..! Liability?

I have a Savings account with HDFC Bank, which is not operated anymore and the balance was zero. They have started charging every month for "non-maintenance of account" and currently the balance has reached around (-)4000 INR.

I had submitted a clsosure form two times but the bank is not closing the account saying that it is linked to my demat account (Which was never touched by me).

Will this become a liability if I never wish to operate that saving account again?

My wife had an HDFC account, in which the negative balance grew to (-)5600 INR, and they closed it upon receiving the closure form and she didn't have to pay anything.
clevermax is offline   Reply With Quote
Old 25th January 2016, 13:18   #425
Senior - BHPian
 
hserus's Avatar
 
Join Date: Sep 2014
Location: Chennai
Posts: 1,695
Thanked: 1,640 Times
Default Re: Negative balance growing in my non-operative account..! Liability?

Tell them to close the demat account and transfer your scrips to some other pure demat place like for example sbi caps. Lower service charges too.

That will teach them to act clever like this.
hserus is offline   Reply With Quote
Old 25th January 2016, 23:14   #426
BHPian
 
Join Date: Nov 2006
Location: Bombay
Posts: 69
Thanked: 20 Times
Default Re: Which bank to open an account in?

HDFC bank comes up with a new plan to pinch out more from Imperia customers. Interestingly I found this mail in the spam folder and did not receive any SMS regarding the same. Following are the contents :

Thank you for choosing to be a part of the HDFC Bank Imperia Banking programme.
As an Imperia Customer, you have access to a host of exclusive privileges.

*List of so called "privileges"*

While you enjoy all these benefits at great discounts unmatched by competition, the bank will be introducing a nominal fee of Rs. 100 per quarter as a Programme Management Fee from January’16 while we continue offering our existing services.

I will shift to some other bank soon, not because of 100 per quarter charge but indifferent attitude of this bank.
spookey is offline   Reply With Quote
Old 25th January 2016, 23:40   #427
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 66
Thanked: 26 Times
Default Re: Which bank to open an account in?

Quote:
Originally Posted by spookey View Post
HDFC bank comes up with a new plan to pinch out more from Imperia customers. Interestingly I found this mail in the spam folder and did not receive any SMS regarding the same. Following are the contents :

Thank you for choosing to be a part of the HDFC Bank Imperia Banking programme.
As an Imperia Customer, you have access to a host of exclusive privileges.

*List of so called "privileges"*

While you enjoy all these benefits at great discounts unmatched by competition, the bank will be introducing a nominal fee of Rs. 100 per quarter as a Programme Management Fee from January’16 while we continue offering our existing services.

I will shift to some other bank soon, not because of 100 per quarter charge but indifferent attitude of this bank.
Surprising that HDFC Bank was indifferent to Imperia account customers. But the menace of banks (sarkari/private) hiking/adding new charges discreetly is on the rise. Please raise a concern to Banking Ombudsman to highlight the cheap practice.

Wonder how banks can be indifferent amidst this
"http://www.businessinsider.in/Ex-Barclays-boss-Fintech-is-going-to-spark-an-Uber-moment-in-banking-that-could-shrink-headcount-by-50/articleshow/49935505.cms"

Last edited by manduvindupondu : 25th January 2016 at 23:40. Reason: New content
manduvindupondu is offline   Reply With Quote
Old 26th January 2016, 09:51   #428
BHPian
 
Join Date: Jul 2014
Location: Montreal, CA
Posts: 122
Thanked: 28 Times
Default Re: Which bank to open an account in?

Guys! What's the best bank to go for an out of state used car Auto Loan?

Axis Bank for example has decent interest rate but they would only process the loan after the car's RC has been transferred to the owner's name. Meaning the car has to be brought from out of state, registered in the new state and then the loan will get approved.

SBI has extremely high interest rates on a used car.

Indian Bank has stopped doing loans for out of state used cars, which is what I've heard.

So any experiences who have went through this process recently?

Thanks.
sweetvar26 is offline   Reply With Quote
Old 26th January 2016, 10:27   #429
BHPian
 
nareshov's Avatar
 
Join Date: Jul 2012
Location: Bangalore
Posts: 268
Thanked: 164 Times
Default Re: Which bank to open an account in?

Has anybody here tried IDFC yet? http://www.idfcbank.com/soc.html

I've held savings accounts with the following in the past/present:

- ICICI Bank (2009-2014)
- HDFC Bank (2011-2014)
- Yes Bank (2012-2014)
- DBS (2014-2015)
- SBI (2012-present)
- KVB (2016-present)

ICICI and HDFC were salary accounts and were okay until I had them. I closed them down because I didn't want to maintain balances with them.

Yes Bank was an experiment which didn't really take off but a few years ago their netbanking and HDFC's were almost the same (probably developed by the same vendors). I closed it due to low account activity.

DBS was pleasant. I didn't have to visit the branch at all. Netbanking was good but had a couple of problems (couldn't add Bank of America account number) and the had no alternative to SMS based OTP (when you're out of the country and are not carrying your registered phone number - probably a common problem with many banks unless you've opted for a hardware security token or have email as an option for OTP). Ended up closing my account with them because I found SBI to be more powerful. A friend of mine very recently went below the min balance requirement and his account got frozen, IIRC. He promptly took his money to Yes Bank.

SBI account was created because of the car loan which I continue to use today and have my salary credited to. It's probably the most powerful netbanking interface I've found so far. I like that they're upfront about the charges for each NEFT transfer: i.e. if I transfer < 10k, I'm charged 2.5Rs and for > 10k, 5Rs. Alas, the DoS attacks on the portal in the Dec '15 causing the access to be very flaky interfered with my usual online transfer activities. This prompted me to look for alternative savings accounts and I tried to open an account with Yes Bank again.

The problem with Yes Bank is that if you've held an account with them in the past and closed it, and you want to create a new account with them - they'll insist on creating the account linked to the same old customer ID. This led to complications with the branch bankers themselves didn't understand very well and caused unacceptable delays in me receiving access to a Debit card or netbanking (more than a month). And in Bangalore, if you place an account opening request online, for some reason your account gets created only at 'New Thippasandra' branch even if the address you provided is somewhere near Bannerghatta road. Oh, and they don't send you any tracking information for Debit card / PIN couriers. Or if they do, it's after the courier has reached you. The netbanking PIN never reached me and apparently it went back to Yes bank. Why the delivery agent didn't call me is beyond me. When I eventually was able to log into netbanking, I was disappointed with the mess it had become and closed the account vowing never to deal with them again.

Since Yes bank savings account as an alternative to the lately unreliable SBI was out, I looked at ICICI again based on feedback from a couple of colleagues (who're usually hard to please). They have a portal where you can fill in your details, get an account number instantly at a branch of your choice and even transfer some initial token money through netbanking of a different bank. All looked smooth so far. But a person still had to visit me to fill up a form again with signatures and the min balance cheque. Took a while for that cheque to clear and the debit card, PIN, cheques and netbanking PIN came to me through different courier companies (bludart, speedpost, "AJW express" - who claimed "incomplete address" - didn't bother calling me and sent back the chequebook) over the span of weeks.

After all that, I'm unable to log into the netbanking portal because it's not activated! Why would they even bother sending me a netbanking PIN then? It turns out that the last time I had closed my account, the netbanking login was not completely disabled. So my phone number was still associated with that. Neither the branch nor the phonebanking personnel knew how to resolve this. They pointed at each other. What's more - it took 25m of waiting on the IVR to reach a human who in the end pointed me back at the branch who had initially directed me to phonebanking. Walked to the branch and got the account closed - won't be touching them again.

Didn't think of using HDFC again because I think they're worse than a public sector bank in terms of processes. Write a letter to close a FOREX card? Hmm. What's all that "programme management" fees for?

KVB is a pleasant surprise. My dad had audited them in Chennai and had good things to say about them. He's retired now and holds some FDs and bonds at the Jayanagar branch. Excellent customer service for a bank that's been around for so many years - I was impressed. No real IVR on their phonebanking, very easy to start speaking to an officer and actually get your problem resolved. The branch manager calls up in case there're any issues (I had trouble adding a NEFT payee). The netbanking interface doesn't have the range of services SBI has but it's powerful enough to saving transfer templates. Even IMPS to account number plus IFSC works. I later learnt (via google) that it's based on IBM Websphere. I've updated my current employer to credit my salary to this account starting this month. For their customer service alone I'm willing to use them as a primary account.

IDFC I came across only last Sunday. I'm inclined towards experimenting with IDFC unless I hear something against it.

Last edited by nareshov : 26th January 2016 at 10:39.
nareshov is offline   Reply With Quote
Old 26th January 2016, 11:16   #430
Senior - BHPian
 
hserus's Avatar
 
Join Date: Sep 2014
Location: Chennai
Posts: 1,695
Thanked: 1,640 Times
Default Re: Which bank to open an account in?

RC transfer of out of state cars to your name is complicated enough that you are best advice to find a local car to buy. Beyond that - state bank of bikaner and jaipur has the lowest rates among the entire sbi group for auto loans. Slightly higher interest rates than private players but 100% transparent and no monkey tricks like hidden charges for out of cycle repayment, early closure etc.

Quote:
Originally Posted by sweetvar26 View Post
Guys! What's the best bank to go for an out of state used car Auto Loan?

Axis Bank for example has decent interest rate but they would only process the loan after the car's RC has been transferred to the owner's name. Meaning the car has to be brought from out of state, registered in the new state and then the loan will get approved.

SBI has extremely high interest rates on a used car.

Indian Bank has stopped doing loans for out of state used cars, which is what I've heard.

So any experiences who have went through this process recently?

Thanks.
hserus is offline   Reply With Quote
Old 26th January 2016, 11:21   #431
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 66
Thanked: 26 Times
Default Re: Which bank to open an account in?

Good patience nareshov in trying multiple banks and posting your experiences.
HDFC Bank has been pleasant for me, touch wood.
I use Sarkari banks due to low minimum balance, range of services, low cost for various services, huge presence across India, trust that they wont deduct some fancy charges on the sly (under question with Vijaya bank as they deducted PMSBY 12 rs WITHOUT my consent/subscription/approval)
Overall, I am happy with IDBI, BoB, Union Bank, IOB, SBI
IMPS using IFSC code is a very powerful feature and is offered free by BoB, Union Bank
manduvindupondu is offline   Reply With Quote
Old 26th January 2016, 12:11   #432
Senior - BHPian
 
bluevolt's Avatar
 
Join Date: Jan 2011
Location: New Delhi
Posts: 2,884
Thanked: 2,044 Times
Default Re: Which bank to open an account in?

Guys, Out of PNB, SBI & ICICI, which one is best for PPF account?

Though I know PPF norms are almost same as per government policy, but just in case any of these mentioned banks provides some special benefits.
bluevolt is offline   Reply With Quote
Old 26th January 2016, 12:19   #433
Senior - BHPian
 
comfortablynumb's Avatar
 
Join Date: Jul 2007
Location: Pune
Posts: 1,240
Thanked: 820 Times
Default Re: Which bank to open an account in?

Quote:
Originally Posted by bluevolt View Post
Guys, Out of PNB, SBI & ICICI, which one is best for PPF account?
Do you have a Savings a/c with SBI? Then open your PPF a/c with SBI too, so that you can make deposits online via SBI net banking. My wife's PPF a/c is with SBI, and she hasn't visited the branch even once in 5 years after the a/c opening formalities.

I don't know if PNB and ICICI allow funds transfers to PPF accounts or not.

Cheers,
Vikram
comfortablynumb is offline   Reply With Quote
Old 26th January 2016, 14:07   #434
BHPian
 
Join Date: Jul 2014
Location: Montreal, CA
Posts: 122
Thanked: 28 Times
Default Re: Which bank to open an account in?

Quote:
Originally Posted by hserus View Post
RC transfer of out of state cars to your name is complicated enough that you are best advice to find a local car to buy. Beyond that - state bank of bikaner and jaipur has the lowest rates among the entire sbi group for auto loans. Slightly higher interest rates than private players but 100% transparent and no monkey tricks like hidden charges for out of cycle repayment, early closure etc.
Unfortunately, I'm looking for a specific car that isn't available in my state. But I will look into it, do a little bit more research and work out the math.

Thanks anyway buddy.
sweetvar26 is offline   Reply With Quote
Old 27th January 2016, 18:03   #435
BHPian
 
Join Date: May 2010
Location: Hyderabad
Posts: 66
Thanked: 26 Times
Default Re: Which bank to open an account in?

How about ownership transfer in the state where car is located, pay yearly tax to the new state (if available). This may work if it is for a short duration.
This life time tax is a burden for people with transferable jobs.
How do we make Mr Nitin Gadkari listen and some change expected in this budget?

Last edited by manduvindupondu : 27th January 2016 at 18:04. Reason: state add
manduvindupondu is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Bank account for foreign remittance and Paypal withdrawal only? iTNerd Shifting gears 6 20th February 2015 11:41
Bank closed my car loan account by mistake! aeroamit Indian Car Loans & Insurance 74 7th December 2012 12:15
Bank charges fine for keeping an account idle Guna Shifting gears 24 12th May 2009 15:54
Open open open Sesame!! VJ_MAVRICK Shifting gears 12 10th January 2008 15:24


All times are GMT +5.5. The time now is 22:41.

Copyright ©2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks