Anyone Have Overdraft from a Savings Account?

[dhiraz]

If You Guys Have an Overdraft Account in Savings Account Share Your Experience

I Got an Offer from ICICI Bank in My Savings Account

 

[Indian]

So to cancel the OD account renewal, do I have to visit the branch, or can I request to cancel the OD renewal request online? ( Email,call). I do not need the OD account.


Can they renew it without my permission?

Yesterday, I got the OD account number. When will I be charged the 1% fee? I cannot see the statement as I do not have the user ID yet. So when do I have to pay the joining fees to avoid any late payment interest charges?


Actually, as the nearest branch is too far away, I do not want to visit the branch.And even if I close it tomorrow, then I have to pay the 1% fees even if I do not use any amount, right?

So is there any trick to avoid the renewal without visiting the branch?

There is a new option in imobile to close an account online. But I am unable to link the new OD number with my savings account. I cannot see my account number in imobile.

So to cancel the OD account renewal, do I have to visit the branch, or can I request to cancel the OD renewal request online? ( Email,call). I do not need the OD account.
You can cancel the request by online as you have 15days cooling period , but not that easy

Can they renew it without my permission?
No

Yesterday, I got the OD account number. When will I be charged the 1% fee? I cannot see the statement as I do not have the user ID yet. So when do I have to pay the joining fees to avoid any late payment interest charges?
PF+GST will be charged anytime after OD account created , it will be debited in OD account balance and YES interest meter is ON already till you pay the outstanding amount , In My case interest auto debited in OD account every 2nd of the month (confirmed with friend's all of them are 2nd Only) there is no statement system that you paying every month its normal current account having OD balance so you need monitor often and not allow go out of order please keep excess balance over and above in the OD limit account for charges and interest on the day of 2nd every month you would get monthly statement like SB account.

Actually, as the nearest branch is too far away, I do not want to visit the branch.And even if I close it tomorrow, then I have to pay the 1% fees even if I do not use any amount, right?
15 days cooling period is there ,TRY your best

So is there any trick to avoid the renewal without visiting the branch?
I mentioned already , you can say NO when renewal process

There is a new option in imobile to close an account online. But I am unable to link the new OD number with my savings account. I cannot see my account number in imobile.
I mentioned earlier imobile for personal and Instabiz for Business ! You could see currnet account in imobile but that is SALARY account OD and FD account OD , you cannot link , imobile and instabiz are working different customer ids , once you get the cheque book you can see customer id in front page

If you want to know PF is debited or not just call above corporate care number in IVR select balance

 

[BMR]

Update on my situation : I closed by canara bank account , and also requested them to close the OD account. They obliged.

Bear in mind that this OD shows as a Loan in yourCIBIL. It was showing on mine too even after account closure, so I raised a request with the branch first and then the nodal officer, after which the entry was suppressed in my CIBIL

 

[aditya128]

how can I close this account online? They are going to charge 1% of my sanctioned amount every year.
You cannot close account online ! You MUST visit for account closure , Not 1% may be higher on renewal or same 1% depends on the situation and your credit profile

I thought it was totally free.
🙂

how can I stop it from being automatically renewed every year?
simple! They will send you email or you will get a call for renewal, you can place the request to cancel the OD renewal

And how can I login to Instabiz ? It is asking me for the user name for which I have to visit the branch. When will they send the enquire card? After which, I can login with my enquire card details, right?

I already replied earlier post , YOU MUST VISIT branch along with your CHEQUE book ( it will reach you after completion of online OD opening) some time you may lucky to get GOOD customer executive and they can place request for netbanking ID and Inquiry card request try your best.

Corporate care : 1860 120 6699

Do they allow interest payment or repayment of Overdraft loan account through BBPS?

 

[Indian]

Do they allow interest payment or repayment of Overdraft loan account through BBPS?

BBPS for bill pay! Overdraft is an account no way to pay any channels , just deposit money in to overdraft account