As per my observation and strong association with few banks for around 5 years, I found banks employ lot of unfair means to take money from customers.
One example here:
If I miss to pay on the same day as mentioned in Credit card statement, then bank charges for late payment fee.
But, If you compare LIC, they wait for one month period after the due date and don't charge for a single rupee in that period.
Why then banks can't wait for sometime, may be 2-3 days of grace period. Is it the only source of income from credit cards in banks?
Please share your experience and suggest few things that must change in order to make the banking system more reliable.
Regards, Banshi.
Quote: Try try try. One day you will fly.
mail: sahoo.banshidhar@gmail.com
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| Author: Sukhsagar Prajapati 06 Nov 2009 | Member Level: Gold | Rating:  Points: 4 |
This is happening all over the world. Banks provide credit cards and load to customers and if they unable to pay it on time then they put penelty on customer which is sometime becomes more than the actuall amount. Government should realy take some action against this and banks should also give some time to customers to pay the bill. Since LIC is a government organization they have stil provide one months grace time to pay the bill. Private banks do whatever they want to do, first they give customer so many offers and hide lot's of things and when the time comes they tell the truth about the scheme. This policy created by private banks to attract customers should be stopped.
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| Author: vilas 06 Nov 2009 | Member Level: Gold | Rating: Points: 4 |
Dear friends,
Its a simple difference between Government & privet project. Government always give you a chance but Privet not. The privet organization need only achieve there targets. Hence they create ideas to charge more to there clients.
Good example:
Cellular services providers, now call coast is less. what they did? Come with some great idea, know your feature for Rs 3/min. Dialer tone for 30/month. call back tone 20/month. yes this are extra benefits but really we need it. no?
Think about it I don't say Credit cards are bad, but control on your self to shop & expenses through it. Better option is Debit cards free & we can use with limited.
best luck.
with best regards
vilas
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| Author: K MOHAN 06 Nov 2009 | Member Level: Gold | Rating: Points: 2 |
Some banks penalise the customers we want to pre close their loan account, that stupidity, if a person coming forward to pay entire money they must welcome it, but they penalise. I think defaulters are better treated by them.
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