Mar
5
Prepayment penalties imposed on banks when people try to clear off their loans early – no resolution
March 5, 2010 | Leave a Comment
If you have taken a home loan, then you wonder at the huge amount of loan outstanding, as well as the number of EMI’s that have to be made (these EMI’s could be large sums of money that would go over many years, possibly over a decade or more); but it is worth it if [...]
Oct
12
Banks setting limit on withdrawal from other bank ATM’s
October 12, 2009 | Leave a Comment
On April 1, 2009, the RBI brought in a move that was supposed to remove the restrictions on using the ATM’s of other banks. Before this move, if you wanted to use the ATM of some other bank, then it would cost. These would include a direct to the customer for checking account balance, or [...]
Aug
19
Individual finances: How to manage when loans are killing you
August 19, 2009 | Leave a Comment
I read an article that took a situation where a person was in real trouble financially, and what the person can do in such a situation that could help. The situation was one that many of us can relate to – in times of good money and a good job, your finances and projections for [...]
Aug
9
Bank charged penalty for charging older customer more than newer customers
August 9, 2009 | Leave a Comment
It is an established business fact that when banks give loans to their customers, they normally treat newer customers more attractively than they treat older customers. The terms and conditions of the loan specify for floating rate loan that banks can charge customers more (either by increasing the EMI amount, or the loan duration) if [...]
Jul
30
Safety feature – Online Credit card usage
July 30, 2009 | Leave a Comment
If you have ever stopped to look at the online credit usage you would have done (including reviewed the information you were asked to provide), it would seem extremely easy to use somebody’s card and use it for buying stuff. What is it that you need to provide in terms of information when using your [...]
May
16
HDFC Bank fined for ‘extra charges’
May 16, 2009 | Leave a Comment
Normally, dealing with banks is a hot and cold affair. When you have dealings with ATM’s and with over the counter in branches, things are fine normally fine. But when there is something that is out of the ordinary, that is when people have more complaints. This could be when there are some delays in [...]
Jan
4
Consumer forum fines ICICI bank
January 4, 2009 | Leave a Comment
For some time now, consumer forums have been ruling on unfair practices carried out by banks, with ICICI Bank being one of the banks having been penalized in the past for various actions that have gone against consumer practices. In this case, a forum ruled against the bank after it was disclosed that the bank [...]
Sep
23
Another case, person gets bill for ‘ghost’ credit card
September 23, 2008 | Leave a Comment
It happens again and again. A person either has not accepted the credit card that was provided to him even when he had not requested the credit card, or he was charged for some amount where he did not make the transactions. Mistakes can happen, even though in cases of a financial nature, one would [...]
Sep
19
ICICI ‘payable-at-par’ checks
September 19, 2008 | Leave a Comment
This is about a seemingly big fraud that India’s largest private sector bank is playing on its customers, giving a designation for something, and then doing something that is directly opposite, just so that they can squeeze their customers even more.
I used to work in Chennai, and had an ICICI account over there (that was [...]
Mar
2
Lost credit card – report early
March 2, 2008 | Leave a Comment
Say you are out shopping, and you do not notice that your purse of wallet has got stolen, or that you left it somewhere ? And somebody unscrupulous picks up your card and makes some large purchases in the time period that you have not reported the loss ? Well, then you are out of [...]
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