I have A/cs in a Public Sector Bank with poor functioning, whats the harm if I changeover to a Private Bank?



Private Banks like Axis give a much higher rate of interest and the bank related works are much better handled in a cordial atmosphere.The executives and the staff of Pvt Banks are very helpfulI at every step.
Is the money in Fixed Deposits and a locker in a Private Bank safe, in comparison to FDs and a locker in a Public Sector Bank?

I have A/cs in a Public Sector Bank with poor functioning, whats the harm if I changeover to a Private Bank?
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3 Replies to “I have A/cs in a Public Sector Bank with poor functioning, whats the harm if I changeover to a Private Bank?”

  1. private banks like icici,hdfc,axis are good. but in all these banks you have to keep average balance above 2500. in hdfc avg balance is 5000 for rural and 10000 for urban. but in public sector banks like sbi
    syndicate, canara its 1000.
    fine amount for not keeping average balance is more in private banks.
    federal bank(private banks) is good .avg balance only 1000 and they have good net banking facility.
    money in fixed deposit is safe in all leading private banks
    for locker use public banks.



  2. Dear friend, don’t be in an illusion that private sector banks are much more customer friendly than public sector banks, ok they may be giving a higher interest rates but the service is GOOD only when they need you, that means that they will be very polite when THEY need you to do some investment or take up a new scheme for their target completion but when YOU need them they are same as any employee in a public sector bank, so have no illusions there.

    If you want you can surely open an account in any private sector bank but do not close your account in the current public sector bank, just keep some money there and let it run as there are certain times for certain things when you wish you had kept this account, there is no harm in keeping two accounts





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