OneCard - Bad Onboarding Experience

100000 x 1.1% x 6 months = 550rs Ask yourself the question is all this effort and feeling upset worth 550rs? Learn from this and move on.

This November or Previous November ?

adnan_d92 wrote:
100000 x 1.1% x 6 months = 550rs Ask yourself the question is all this effort and feeling upset worth 550rs? Learn from this and move on.

Correct and correct but what's wrong, is wrong and shall always be wrong.

I'm conveying what I went through. It's not worth the effort and I'm not even going to put anymore but I feel very irritated when young startups fall apart when it comes to solving problems.

Since it's a 1 year FD, it won't make much difference. The learning is something I'm sharing here, others can benefit from it.

sauravDD wrote:

This November or Previous November ?

6-Nov-2022 is the date I booked FD.

There is nothing wrong doing from the onecard side what i think, fault from ur side u opened the fd in a hurry without checking out about current rate and tnc.. their service executive has done his job as per the company for which he was hired.

adnan_d92 wrote:
100000 x 1.1% x 6 months = 550rs Ask yourself the question is all this effort and feeling upset worth 550rs? Learn from this and move on.

But what if they have booked this in 5% or may be less.. because eventually they are not giving what they promised..
And important thing is there's no going back.. His money is stuck now.. other bank fd have option for premature closer  but this has high charges..

Atleast in this case they would have provided a safe return process..

If @sahil1033 doesn't raise his voice.. they will ignore the issue and keep on doing the same with other customers..

bankipad wrote:
There is nothing wrong doing from the onecard side what i think, fault from ur side u opened the fd in a hurry without checking out about current rate and tnc.. their service executive has done his job as per the company for which he was hired.

Either I missed out on explaining or you didn't read it carefully.

On the app, it showed me rate of interest as 7.5% and even displayed the amount after maturity considering 7.5%, then how much I didn't check this?
You can argue that I could've cross checked this from SBM Bank's website but this is purely a glitch from their end.

Customer care executive did everything as per policy, true ... each employee reflects the company and I did request him to get me in touch of senior executive because what he was simply reading out loud policies to me and didn't even care why am I in this situation in the first place.

If it's a glitch from their end, accept the fact, resolve my issue and rectify the same later on.

Till date, Amazon has been the best at listening carefully, understanding and resolving issues.

I booked FD based credit card by depositing Rs. 1 lac and it showed me interest rate as 7.5% but the next day I got confirmation that application is processed and interest rate is 6.4%.

Application processing time matters in such cases? Anyways, think they might've at least considered honoring your request if u had any screenshot for 7.5%

getready wrote:

I booked FD based credit card by depositing Rs. 1 lac and it showed me interest rate as 7.5% but the next day I got confirmation that application is processed and interest rate is 6.4%.

Application processing time matters in such cases? Anyways, think they might've at least considered honoring your request if u had any screenshot for 7.5%

Yes, they requested that if I had any screenshot supporting my statement, they would've taken into consideration for investigation but since I didn't take any, they're not willing to help in any form.

chiraggyl170 wrote:
But what if they have booked this in 5% or may be less.. because eventually they are not giving what they promised..
And important thing is there's no going back.. His money is stuck now.. other bank fd have option for premature closer  but this has high charges..

Atleast in this case they would have provided a safe return process..

If @sahil1033 doesn't raise his voice.. they will ignore the issue and keep on doing the same with other customers..

Whatever happened, I'm not at fault anywhere. It's their app which caused this glitch, taking a lesson from this to take screenshots whenever and wherever possible.

I raised 2 points with them :

Since this is a mistake at their end, they should close my account and refund back my money as-is.

Second, to clear my data from their records so that I can start afresh with them when FD rates will be good and I'll be willing to get OneCard CC at the same time as I clearly explained, I wanted to diversify my emergency fund in several instruments providing good rate of interest on returns.

But they have only same response that it's policy, nothing can't be done as I didn't have a screenshot to support my arguement. Simply saying "I would've helped if I can" just doesn't help. Reading out aloud policy when I'm not at fault is seriously ridiculous.

Just fyi, once you close onecard(secured or unsecured) you will never get another one in this lifetime(quoting another dimer's words/post here who verified it from official source it seems).

https://www.desidime.com/discussions/closed-one...

Better keep in cred mint providing 9% interest or in mobikwik xtra providing 12% p.a.,cred is safe option😜

sahil1033 wrote:
Whatever happened, I'm not at fault anywhere. It's their app which caused this glitch, taking a lesson from this to take screenshots whenever and wherever possible.

I raised 2 points with them :

Since this is a mistake at their end, they should close my account and refund back my money as-is.

Second, to clear my data from their records so that I can start afresh with them when FD rates will be good and I'll be willing to get OneCard CC at the same time as I clearly explained, I wanted to diversify my emergency fund in several instruments providing good rate of interest on returns.

But they have only same response that it's policy, nothing can't be done as I didn't have a screenshot to support my arguement. Simply saying "I would've helped if I can" just doesn't help. Reading out aloud policy when I'm not at fault is seriously ridiculous.

@guest_999

I raised the same concern which you pointed out about unable to get OneCard again in this lifetime.

From years of creating FD experience, I can assure you that even when creating a FD, if the rates get changed in that few seconds, the new rates will be applicable.

You are dealing with an intermediatory here, the risk of rate change gets multiplied. Also the scenario you are saying might happen due to caching in the app or something similar. I don't think any bank leave aside SBM can honor older FD rates. It's really great that onecard support asked you to provide screenshots, that too I believe they wanted to fix caching issues on their end.

Sorry to say, can't see any Red Flags here. I feel your pain though, can only say that appeal to OneCard to waive off any account closure charges.

sahil1033 wrote:
@guest_999

I raised the same concern which you pointed out about unable to get OneCard again in this lifetime.

Even in big banks the penalty for breaking the FD before maturity is 0.5% on the interest rate slab(based on amount and tenure).
Daily interest for 1Lac is around 18Rs,
You may be loosing the interest for the period you deposited, it cant be from your principal amount.
Send mail to the customer care asking for FD cancellation and refund the money to your Bank account.
Send 2 followup mail with 7 & 14 days gap.
after 30days you can take it upto RBI ombudsman for a resolution.
https://rbi.org.in/Scripts/Complaint...px

Do read their terms and contiontions again and proceed.

Seinfeld wrote:

From years of creating FD experience, I can assure you that even when creating a FD, if the rates get changed in that few seconds, the new rates will be applicable.

You are dealing with an intermediatory here, the risk of rate change gets multiplied. Also the scenario you are saying might happen due to caching in the app or something similar. I don't think any bank leave aside SBM can honor older FD rates. It's really great that onecard support asked you to provide screenshots, that too I believe they wanted to fix caching issues on their end.

Sorry to say, can't see any Red Flags here. I feel your pain though, can only say that appeal to OneCard to waive off any account closure charges.

I had deleted the app, reinstalled before going ahead.

See, what happened, has happened ... but the fact that they're not ready to even consider mistake at their end and waive off charges is not acceptable.

Whatever I've gone through with their support, is nowhere close to being assisted. The usual reply we can't do anything, this is our policy just shows how far can one go to rectify their mistake.

This is clear that FD rate didn't change overnight, 7.5% rate being shown was due to my application being saved since the last time I tried somewhere around in September. So, if it were the case of changing rates in between, I would've accepted this from your past experience but whatever happened in my case is pure mistake at OneCard's end.

@chiraggyl170 @ksmaheshkumar @getready @sauravDD @Seinfeld @bankipad @adnan_d92 @guest_999

UPDATE :
I had emailed them with full explanation and series of events. Got a callback from sensible and understanding support executive, he accepted this is a mistake from their end and they should indeed notify users about dynamic change in rate of interest as well as duration until which the said interest rate will be valid. In my case though, it's unclear how and why 7.5% rate of interest was being shown, he took detailed feedback from me and offered 10k reward points as compensation.

sahil1033 wrote:

@chiraggyl170 @ksmaheshkumar @getready @sauravDD @Seinfeld @bankipad @adnan_d92

UPDATE :
I had emailed them with full explanation and series of events. Got a callback from sensible and understanding support executive, he accepted this is a mistake from their end and they should indeed notify users about dynamic change in rate of interest as well as duration until which the said interest rate will be valid. In my case though, it's unclear how and why 7.5% rate of interest was being shown, he took detailed feedback from me and offered 10k reward points as compensation.

https://media.tenor.com/_y2R23ufFNkAAAAM/simon-...

sahil1033 wrote:

@chiraggyl170 @ksmaheshkumar @getready @sauravDD @Seinfeld @bankipad @adnan_d92 @guest_999

UPDATE :
I had emailed them with full explanation and series of events. Got a callback from sensible and understanding support executive, he accepted this is a mistake from their end and they should indeed notify users about dynamic change in rate of interest as well as duration until which the said interest rate will be valid. In my case though, it's unclear how and why 7.5% rate of interest was being shown, he took detailed feedback from me and offered 10k reward points as compensation.

10k only😂. Loss to huwa he . 1 year ka 1100 (1.1% ) interest Banta and same rate fd carry forward.  Once u close one card you can't open again . Suppose u holding it for 2-3 year then loss will be 1100* number of year . Compounding not included .

1k compensation 4-6% . 40 rs extra . 1 year ok . For 2 year year u face loss

avion wrote:

10k only😂. Loss to huwa he . 1 year ka 1100 (1.1% ) interest Banta and same rate fd carry forward.  Once u close one card you can't open again . Suppose u holding it for 2-3 year then loss will be 1100* number of year 

Not measuring actual profit/loss here.

Also, at the time of renewal, the support executive told me, whatever is the current rate of interest, that's what one gets.

I'll periodically demand them to convert me to unsecured card, so, hoping for the best.

adnan_d92 wrote:
100000 x 1.1% x 6 months = 550rs Ask yourself the question is all this effort and feeling upset worth 550rs? Learn from this and move on.

exactly man , a lot of people on this site , crib and waste time for few hundred rupees and take unnecessary tension. just move on instead.

😔

somebodythatusedtobeondd wrote:

exactly man , a lot of people on this site , crib and waste time for few hundred rupees and take unnecessary tension. just move on instead.

Read the post, replies etc carefully and then conclude.

If it weren't for people sharing their experiences, this forum wouldn't be a forum.

I agreed to what @adnan_d92 replied and there's a decency and courtesy he replied with, stop bashing others without thinking even for a second. It's free and easy to be opinionated but from my point of view, what happended with me was wrong and I raised my concern and from starting to end, I shared my experience here.

sahil1033 wrote:
Read the post, replies etc carefully and then conclude.

If it weren't for people sharing their experiences, this forum wouldn't be a forum.

I agreed to what @adnan_d92 replied and there's a decency and courtesy he replied with, stop bashing others without thinking even for a second. It's free and easy to be opinionated but from my point of view, what happended with me was wrong and I raised my concern and from starting to end, I shared my experience here.

i replied to the other guy and not you , i was talking about other people , didnt even mention your /onecard issue. 

They display FD rates when you proceed to apply. Currently it's 6.4%. I guess you missed to read things carefully before proceeding and now thinking that it's their fault (which is not). Excess estrogen is the actual culprit behind this post.  

somebodythatusedtobeondd wrote:

i replied to the other guy and not you , i was talking about other people , didnt even mention your /onecard issue. 

Apparently I think it was implied on me too but if you didn't point out at me, apologies from my side.

MisterTea wrote:
They display FD rates when you proceed to apply. Currently it's 6.4%. I guess you missed to read things carefully before proceeding and now thinking that it's their fault (which is not). Excess estrogen is the actual culprit behind this post.  

Did you even read everything carefully?

Or, did I tend to miss out on explaining tiny details?

Just because I didn't take a screenshot, there's no genuinity of what I'm speaking? Dude, before replying, read everything carefully or just don't reply at all.

What happened with me is a narrow case of glitch, how exactly I landed in this, I've less or no idea but I'll reiterate for you. The page being displayed, I had clicked on that page at a prior point of time, don't remember exactly but could be a few months back. After proceeding ahead, I landed at a page which displayed FD amount as 50,000 since I chose the FD amount as Rs. 50,000 at that time.

On 6-Nov-2022, I opened OneCard and it showed the same page only, I couldn't back but only proceed ahead with the application. So, I uninstalled the app, logged in again and voila, same page. So, I went ahead, it asked me details like bank account number, IFSC code etc and proceeded ahead.

It's at that page, I was being shown FD amount as 50,000, rate of interest as 7.5%, amount after maturity and there I saw an option to change FD amount, changed it to 1,00,000 and rest of the things changed accordingly, rate of interest was still 7.5% and amount after maturity also took into consideration 7.5% rate of interest only.

After that, I paid Rs. 1,00,000 and the next day got confirmation that FD has been created at 6.4%.

Over call with customer support executive, he mentioned that 7.5% interest rate was available for 2 days, on 3rd and 4th November 2022 and I booked FD on 6-Nov-2022.

They've taken this feedback and shall fix at their end if it could've been because of any bug and they themselves accepted this a fault at their end and for compensation, credited 10k reward points. I hope this clarifies.

Final update on this thread, a big thank you to everyone who genuinely helped and guided me.

sahil1033 wrote:
Either I missed out on explaining or you didn't read it carefully.

On the app, it showed me rate of interest as 7.5% and even displayed the amount after maturity considering 7.5%, then how much I didn't check this?
You can argue that I could've cross checked this from SBM Bank's website but this is purely a glitch from their end.

Customer care executive did everything as per policy, true ... each employee reflects the company and I did request him to get me in touch of senior executive because what he was simply reading out loud policies to me and didn't even care why am I in this situation in the first place.

If it's a glitch from their end, accept the fact, resolve my issue and rectify the same later on.

Till date, Amazon has been the best at listening carefully, understanding and resolving issues.

Amazon too worst.. Particularly for food orders..they will disconnect call / chat in middle, if they don't have answer