Customers miffed at various bank charges

Nagpur, June 23

People keep their hard earned money in banks in various forms of deposits. Despite this, the banks charge various fees on the amount kept in the banks, which has created resentment among the bank depositors.

Apart from PSBs, all other types of banks are also recovering various charges from customers on a boquet of 20 services.

Customers feel that now the banks are not charging only entry fees to the banks.

Surprisingly, many customers of the banks are not even aware of the charges deducted by the banks on the various services provided by banks because these charges are deducted from the accounts of bank depositors directly.

The customers get message only after the money has been deducted.

However, a large number of customers tend to ignore these messages or they do not either feel the need to contact their respective bank branches for the amount so deducted from the bank.

Charges for maintenance of accounts, ATM , maintenance, SMS Charges, annual fee to the tune of ` 400 to 1,000 are recovered from the customers

In fact amount to be deducted on various services provided by the banks varies from one bank to another bank. The service charges of PSBs and private banks are more as compared to private banks.

Banks give less rate of interest on customers’ deposits which is around 4 per cent per annum. Apart from this, it gives interest ranging from 5 per cent to 7.6 per cent on PPF, Sukanya, Samruddhi  Yojana, RD. However, interest recovered on loan is about 7.15 per cent to 12 p er cent.The credit is given on the basis of CIBIL score and ITR.

Banks are looting customers

The banks use our money at low rate of interest. Over and above, it recovers money from us in the form of various services charges, which is nothing but loot of customers. Now , only entry fee remains to be given.

Amit Tiwari

Banks give less interst but charge more. I nterest charged on deposits is less. However, interest on loans is more. Similarly, recovery is made for various services provided to the customers.Many times even messages are not received

Irfan Shaikh

Box

Various charges recovered from banks

Duplicate Passbook - 150 to 300 per 100 entries on passbook

Account Maintenance `300 to Cheque book charges ` 100 to 500 rupees

Inactive account `100 to `600

Bounced Cheque `200 to `2000 rupees

Bank statement fee `100

ATM Alerts `12 to 22

ATM Maintenance `118

New ATM Card `250

ATM annual fee `200 to `300.