This is with reference to Interest Rate Change. In last 6 months or more there has been a rate change at least 3 times, HDFC bank never took the pain of informing the customer via a SMS.
When I checked personally at the Desk it was confirmed that HDFC bank only sends SMS for reminders on EMIs and reminders, if the Rate change is on the higher side. Bank personal also confirmed that its customers duty to to go through public notices, or online to check the change in interest rates.
Even if there is a loan with floating rate of interest, until the customer doesn't visit and do the conversion the same old rate will continue. I can only agree that Auto conversion has challenges, but if the bank can send SMS for all other reminders then why not for rate conversion. Its sheer cheating or looting the customer.
Hope I get a satisfactory feedback or its sure I will take it to a higher level and media if required. Its all about earning income without transparency, having systems which benefits the bank and not the customer. Was this information helpful? |
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