Banks have started an open loot in the name of service charges. They are not providing 5 star services where they can charge such an exorbitant amount. We want to raise this voice for every Indian citizen as in the name of service charge they are openly grabbing the money of innocent citizens of India. Is banking ombudsman as a matter of fact listening. The below screen shot shows latest service charges wef 01 January 2012 and it only shows that do not dare come on the wrong side of the bank else you will be burnt and dare not step inside the bank for any free service.
Now be very careful with your average monthly balance else you will be charged a heavy amount. Make sure that when you open account with any bank than get it written from the individual opening your account to sign for the minimum balance which should not be subject to change. Else you may find that when you opened the account, you were told that this is Rs 5000 minimum balance account and when charges get levied, you find that it was Rs 10000 minimum balance account.
Below screen shot will show the service charges for accounts maintaining the minimum average quarterly balance.
Last but not least, dare not close the account as you will get charged Rs 500 for doing this act as it will be considered as an insult by the bank. Now we take this as a case study and see if these charges can make the clients flee from the premium bank and may be a cause for its vertical slide and time can only tell us about the future story.
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