It's ok for HDFC BANK to create Recurring Deposit without inform?
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This is my salary account of Hdfc bank account, i had got this message today "RD Installment Due! Amount INR 1,000.00 Due on 12-MAY-24 HDFC Bank RD XX535 Check RD statement on the MobileBanking App."
Upon checking i come to know that on 12th April 1k got deducted from my account.
I don't how they created, also i didn't got any message regarding to it (whether 1k deducted or RD created).
I called the CC they simply given directions to " how to withdraw that money" without even saying anything who created & why?,
So, it's a common practice for HDFC , to create like this?
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Profit of just 434 rs.
Too low.
This is not a common issue. Please file a complaint with the nodal officer as the customer support team may not be willing to address this matter due to their lack of initiative.
Also, adjudted for CPI (inflation), at the same interest rate even if the interest amount was N times more (for a higher corpus) this still is daylight robbery.
CPI keeps going above 5% and depending on one's risk appetite, one can have numerous other (investment) avenues (within India itself) that have a reasonably better RoR or IRR.
Any end of the (financial) year re-consent (clicking yes/ok) on-line given (that you could recollect)?
Or at the branch, during rush, some person asked you something and you said yes?
If there is a (so called) dedicated Relationship Manager, then e-mail them and the branch manager.
No experience with HDFC retail banking since around 2019, but ideally such things should not happen without explicit consent.
(To me, it seems like some clandestine method was employed to take some consent or activate some automated RD feature. RBI has strict guidelines on such things, so you are safe if it is accidentally pulled/started.)
Account is old enough¿ but the issue has cropped up in April 2023 only?<br>
<br>
- account is not old created 5month before, if i understand correctly, the issue is on 1.4.24( check pic again)
Any end if the (financial) year re-consent (clicking yes/ok) on-line given (that you could recollect)?<br>
<br>
- No, as per my knowledge, i have had knowledge of banking.
Or at the branch, during rush, some person asked you something and you said yes?<br>
<br>
- No, i didn't gone to bank till now, the account created by someone from bank representative, who came to my office to application of account.
If there is a (so called) dedicated Relationship Manager, then e-mail them and the branch manager.<br>
<br>
- i didn't got any thing like email.
No experience with HDFC retail banking since around 2019, but ideally such things should not happen without explicit consent.<br>
- yes,it's happened with me ,but, i do hear from my colleague that without informing him, he got another debit card ( later cancelled with 500+ gst )
(To me, it seems like some clandestine method was employed to take some consent or activate some automated RD feature. RBI has strict guidelines on such things, so you are safe if it is accidentally pulled/started.)
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Any end of the (financial) year re-consent (clicking yes/ok) on-line given (that you could recollect)?
Or at the branch, during rush, some person asked you something and you said yes?
If there is a (so called) dedicated Relationship Manager, then e-mail them and the branch manager.
No experience with HDFC retail banking since around 2019, but ideally such things should not happen without explicit consent.
(To me, it seems like some clandestine method was employed to take some consent or activate some automated RD feature. RBI has strict guidelines on such things, so you are safe if it is accidentally pulled/started.)
Profit of just 434 rs.
Too low.
This is not a common issue. Please file a complaint with the nodal officer as the customer support team may not be willing to address this matter due to their lack of initiative.
Profit of just 434 rs.
Too low.
This is not a common issue. Please file a complaint with the nodal officer as the customer support team may not be willing to address this matter due to their lack of initiative.
Also, adjudted for CPI (inflation), at the same interest rate even if the interest amount was N times more (for a higher corpus) this still is daylight robbery.
CPI keeps going above 5% and depending on one's risk appetite, one can have numerous other (investment) avenues (within India itself) that have a reasonably better RoR or IRR.