interest
All banks ask for a minimum deposit in saving account and customer is penalized if it is breached. This amount should be considered as as a fixed deposit and interest of 7.5% be paid on it instead of 3.5%. more
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Fact is that Banks have become irrelevant, with digitisation. Why not have simply an RBI as the Central Repository, plus just an SBI (or not). This way, the 4-5% that is being bled from citizens (or not paid to citizens) can be saved. What is the great things that banks do? Just trading, but in money, and whose money, Yours! They need to be euthanized. more
Sep 03
Had it been so simple, we could have moved to primitive life with anyone's wife is mine & children are of the society without any family tag. more
Sep 03
Every Bank has its own rules and regulations, and above it every Manager, acts differently. The suggestion, for giving higher interest rate, is a welcome one. Why have so many Banks in India, just have one and only one Bank, for all the Indians and all those who wish to use a Bank in India. more
Sep 03
Good that free enterprise and competition is the need of the hour, and one fine day, one of these banks will be closed, and then it becomes daylight robbery by such banks, who wind up, for example Prudential Cooperative Bank Ltd., Vasavi Bank, Global Trust Bank. If it is one Bank, they cannot vanish, because all of us will be affected. Now only some will be affected. more
Sep 03
That would be against the spirit of free enterprise and competition. Now, we have the opportunity to go to another bank if we so prefer. Why do you want to rob us of this? more
Sep 03
Now Indian Banking Monetary System is now full with surplus fund. So big banks are making penalising rules so that low value customers should shift to other banks. As because every banks including co-operative banks are fully computerised with ATM Debit card, customers who does only simple banking (viz. SB, FD, RD etc.) should happily move to nearby convenient bank branch and get better personalised services. Also now with KYC needs with PAN & Aadhar, all FD interest earned in various banks/branches/PO are consolidated and avoiding of Income Tax is difficult. Thus it will be better to close all those small deposit accounts and transfer to a single a/c, which will help to reduce the locked minimum fund. Think positive and save money. more
Sep 02
Banks suddenly raise the minimum deposit and not even inform the account holder. This is a clear violation of contract because the terms and condition at the time of opening account is changed without knowledge of account holders. Money is deducted even without his knowledge. He is not given an option to close his account if he/she is not in position to maintain the required deposit.
This is a grave matter and Finance Ministry is conniving by keeping silent more
This is a grave matter and Finance Ministry is conniving by keeping silent more
Sep 02
When Mr Modiji is harping on 0 balance accounts banks asking for more minimum deposit only to increase their low cost deposits and the govt is turning a blind eye on it more
Sep 02
Even if they were not interlinked, it is the duty of us, the tax payers to declare all interest earned on savings bank accounts, fixed deposits, recurring deposits etc. and pay tax on the interest income after availing the benefit of 10000 rupees deduction under section 80 TTA. Even suggesting anything else or hinting of avoiding paying tax becomes tax evasion, not tax planning... more
Sep 02
