[jeygani]

Originally Posted by manduvindupondu

What are the interest rates for overdraft ?

For HDFC it is 15% (shown in the offer section of net banking) + processing fee Rs. 1180 and not sure for SBI.
I guess, the interest rate can be reduced further if we talk to relationship manager.
For personal loan, at present, minimum interest at HDFC bank is 10.5% and SBI at 9.6%.

[dodge3p]

Originally Posted by audioholic

I have accounts in both SBI and HDFC

I do have an SBI account, and PIN generation for new card is very seamless, which I recently did. The documentation that comes along with the card clearly says how to generate pin. Online netbanking, ATM, Tollfree are few options. Didn't you get this documentation (see attached)?

[audioholic]

Originally Posted by dodge3p

I do have an SBI account, and PIN generation for new card is very seamless, which I recently did. The documentation that comes along with the card clearly says how to generate pin. Online netbanking, ATM, Tollfree are few options. Didn't you get this documentation (see attached) ?

I think they have revised the process. This was back in 2017 I believe and along with the card I just received the various flyers and in the offering letter it was mentioned that I need to visit the bank branch to collect the pin letter. After that episode and visiting the branch, the lady mentioned that the pin letter is too old and no longer valid. At that time she mentioned about the SMS option which later was used.

[Keyur Shah]

Seems like an old thread.

There are several options out there.

I can vouch for HDFC Bank anytime.

Those who want customized and premium products from a bank should go for HDFC Bank Insta Savings Account.

There are no charges associated with it.

The premium products of the bank come with many perks
Discounts on online shopping and various other offers
Offers customized service

[sunilch]

Quality of service at HDFC has gone down the dumps. The IVR will keep you rotating within different sections and they tell you there is some technical fault or all associates are busy all the time.

Gone is the time when HDFC would resolve the issue immediately without any resistance. Now they just make it hard for you to reach them. This even for corporate salary accounts.

[audioholic]

Originally Posted by sunilch

Gone is the time when HDFC would resolve the issue immediately without any resistance. Now they just make it hard for you to reach them. This even for corporate salary accounts.

Same experience here recently. But I got to know from the customer care agent that if we call from the registered mobile number then it allows us to speak to someone apart from the IVR options.

In my case, I had assumed I lost my wallet and blocked my credit and debit cards. Since they dont allow you to unblock a card once you block it, and since I was not in the country it was very tricky to call them up for some changes to the card re-issue. My credit card has the registered address of my workplace while my rest of the HDFC account has my residential address. While the debit card was promptly dispatched to my house, the credit card was supposed to be sent to the office address. When I asked them to send it to my residence citing my situation, the customer care guy couldnt do so. And this was the lost card option in IVR. He says I should choose the credit card option in IVR and then speak to the people there. However since I called from my German phone number that option was unavailable to me. Need to call them sometime from my Indian registered mobile number for this to work apparently.

[condor]

Folks, has anyone recently done a change of address for your bank account ? Any idea what's the proof they accept for the new address ?

[V.Narayan]

Originally Posted by condor

Folks, has anyone recently done a change of address for your bank account ? Any idea what's the proof they accept for the new address ?

Utility bills from a Govt entity or Aadhar or passport.

[virgopal]

Originally Posted by condor

Folks, has anyone recently done a change of address for your bank account ? Any idea what's the proof they accept for the new address ?

Supporting docs for updating address/eKYC are: Aadhaar or Passport

[condor]

Thanks, @Narayan and Virgopal. Asked because I wanted to do a selective change of address than move all.

[sunilch]

Originally Posted by V.Narayan

Utility bills from a Govt entity or Aadhar or passport.

OT but I guess useful - Utility bills from a Govt entity --- I intentionally keep my MTNL line operational for this reason. They (banks, any PSU entity, etc) will not accept a land-line bill from Airtel or JIO but will easily accept the same from MTNL or BSNL. The monthly payment is nominal for this and hence I keep one operational for ease of use.

[condor]

Originally Posted by V.Narayan

Utility bills from a Govt entity or Aadhar or passport.

Originally Posted by sunilch

OT but I guess useful - Utility bills from a Govt entity ---

Looks like utility bills from a government agency are not accepted. Aadhar, Voter ID, Passport, and DL are allowed.

@Sunilch, MTNL / BSNL bills do help in many cases. I am maintaining my BSNL landline even though all calls are via mobile by everyone at home.

[sunilch]

Originally Posted by condor

Looks like utility bills from a government agency are not accepted. Aadhar, Voter ID, Passport, and DL are allowed.

@Sunilch, MTNL / BSNL bills do help in many cases. I am maintaining my BSNL landline even though all calls are via mobile by everyone at home.

You can convert to the cheapest plan - Incoming only. Costs about 125 p.m I believe

[Fillmore]

Originally Posted by condor

Looks like utility bills from a government agency are not accepted. Aadhar, Voter ID, Passport, and DL are allowed.

Depends on the Bank as well.
If it is HDFC you can say you dont have any of these and ask them to proceed with a manual verification of the address.
They will send a representative to verify the address in person. After that the addressed gets changed.

This takes around 2 weeks time from the time you lodge the request.

[sukhoi]

I have been banking with two banks only, ICICI Bank which is also salary account and HDFC Bank account. Both were opened in early 2000s.

ICICI Bank: Been with them for over 2 decades now, have been largely happy with them. Have not had any major needs and whatever little I needed, they were able to attend promptly. Net banking is good, being a higher tier of banking customer the charges for NEFT/RTGS/IMPS were never there, get a debit card with lounge access (used to come in handy for a quick meal at the airport and to relax in peace, pre covid days... the good times). Also have a Demat account with them and the only grouse is that they have higher brokerage as compared to other options today like Zerodha etc.
Some examples of good service (which I always feel is a function of not just the bank culture but the staff attending to you) was when we closed our home loan and went to the bank to settle it and collect papers, the staff was very helpful, my mom was impressed with the staff who were polite and courteous. Or when I had to purchase our car and needed a demand draft, I was told it would take 1 day or so and some charges. Upon highlighting that I have a higher tier banking relationship, they checked and issued the DD in 30 minutes flat without any charges. So largely satisfied.
In recent times though, I have felt that the service levels are not keeping up. One of my biggest problems is that they rotate the RM very frequently. I get call from person A saying s/he is my RM and we develop a rapport and then if I need something and I call them, they are gone and a new person has been assigned. Earlier the new RM would make a courtesy call and introduce, share the number but now that does not happen. 2017 or so I had a RM and she helped me out with few issues but then all of a sudden she was replaced and the new person did not even reach out. Not expected at this level of banking I feel. Or maybe they are having high attrition too.


HDFC Bank: A limited relationship. They charged me some random balance-not-maintained-fees without informing though to their credit they did reverse it back once I made a request for it. However it took multiple follow-ups / visits to the branch to get it done. I would have expected that once I have raised a request the same should get closed one way or another and I should not have to follow up for closure at least. If the decision is not in my favour I could contest it but follow up for closure is not good. In 2019 I had to travel overseas for work and I decided to get my first credit card (Regalia). I was told it was enabled for international use. When I landed at Doha airport (transit) and went to buy a burger at Burger King my card would not work. Was surprised since was given multiple assurances that the card is enabled for international use. Upon reaching my destination followed up with the issuing branch and they said it is enabled, something would be wrong with the machine, try again. Tried again in UK and still not working. Eventually the trip ended but the card did not work. They would tell me to do it via internet banking but the option itself would not work. Eventually after months of follow ups, one of the guys told me to use the WhatsApp feature to enable it and then I was able to get international facility enabled on my card.

Have the basic tier of banking with them so cannot comment about the premium services / offerings. And here also, I feel that the staff is what makes or breaks the customer experience.

Also have two queries for which I seek help.
An elder cousin has come by way of a large sum of money (25L+) and was asking me for advice. I said look at equities (mutual fund SIPs) as one option along with some debt component. However at the same time I advised not to keep that much monies in one single account (Andhra Bank where it is today). Instead to spread it across 3-4 banks (to ensure that 5 lakh cover is available) and also maybe enjoy some benefits of a higher tier of banking. Banks I have narrowed down are:
1) IndusInd Bank (offer 6% of interest on FD). Planning to get a higher tier
2) IDFC First Bank (offer higher interest of 4.5% for deposits over 1L and are linked with Zerodha for investments, should make it easier to move funds once he gets convinced about equities). Or am I wrong in thinking that IDFC First and Zerodha would offer the same convenience as say ICICIBank and ICICIDirect in terms of ease of funds transfer one way or another. They had 7% interest earlier but not anymore, however still a better rate of interest than say ICICI or HDFC
3) ICICI Bank (a known option, if not very good but still good enough)

Originally Posted by Mortis

Most banks seem a bit dicey nowadays. We have split our money amongst a few banks with nearby branches to reduce the risk.

Same reasoning because of which I suggested to split amount across banks.

Originally Posted by kkkkkaran

My family has been an Indusind Exclusive (grouped) customer since quite a few years now. They have literally spoiled us, when it comes to service.

Good to hear this feedback. Your family have been associated for a long time now, do you feel the service levels are the same or have they taken a hit?

Originally Posted by arindambasu13

Currently banking with IDFC First bank and so far the experience has been pretty seamless. Since my company was one of the first few corporate patrons of the bank, we get royal treatment including doorstep baking for even the smallest things, a Signature debit card right from the outset etc.

How has your experience been with the bank these past 2 years? I visited a branch today and the staff was helpful but appeared a bit cavalier in their attitude. Luckily though, one of the other guys chimed in and was helpful with the details.

Originally Posted by vrprabhu

Finally, one more point to consider is to have a permanent mobile number - attach this number to all your financial instruments (banks, share trading, MF, demat etc.) as well as gas connection, reward points etc. Changing the number is a pain, if it is linked to various areas like these...

That is a very important point you have highlighted, thanks. I have always thought that with each passing day, our mobile number gets associated with so many things that if we have to ever change it, it would be a huge pain to figure out where all we should change it so a permanent mobile number is important.

Originally Posted by INJAXN

My Dad opened an account with IndusInd bank last month, to get benefit of 7% FD rates. He immediately opened an FD and ensured that maturity value doesn’t cross 5 lacs.

The interest now is 6% but still one of the higher interest options I could find for an FD. What is your father's experience with the bank so far, if you could please share.

Did go through the thread and I noticed that different fellow members have had different experience with the same bank. Probably attributed to the individuals we dealt with along with the culture of the bank as a whole.

Any suggestions on the above list and recommendations.

Also, one more thing. Now a days almost all banks offer ability to open account with Aadhaar based eKYC. I have no experience with it since have never opened an account in last 15 odd years. Not to start a debate but was wondering about safety of Aadhaar linked bank accounts (there has been lot of news/debate about it being safe or not safe etc.). Wanted thoughts from fellow members on what do they feel about it. I have not linked it with any of my bank accounts yet, somehow not too convinced (maybe wrongly). However on the other hand it does offer the convenience of opening a new account instantly from your home with eKYC and you can get going with the account in 5 minutes (though you would still need KYC to be done for full compliance).

Originally Posted by Ford5

Not by law. Not even mentioned by RBI. It's just banks who fear Aadhar will become inevitable in the future who force us to submit the same. Our Pan cards give out more financial info than any aadhar card can.

Exactly, if I were to worry about Aadhaar card being linked to my financials and being un-safe (in some way), it is linked to my PAN which is then linked to all financials so it is one more hop and the linkages are there. And no one has questioned PAN card security. Is it that because bio-metrics are linked with Aadhaar and hence people are concerned (rightfully??).

What do most of us lean towards? Aadhaar based or non-Aadhaar based? Maybe a very basic question but what steps do you take to keep your Aadhaar information safe in case you open an account with Aadhaar?

Thanks,
S