tuhin
TF Premier
I am creating this thread for all Federal Bank customers like me who are experiencing sudden price hikes. Earlier, this bank was providing an excellent service at nominal pricing. Now, they have changed their price schedule for all SB Accounts but providing peanuts to customers. Let me elaborate all:
1. Recently they have raised SMS alert charges to 50p/SMS which is costlier than any other major bank in India. Even, 'Charge Ki Khajana' Axis Bank is deducting 25p/SMS for VAS.
2. Debit Card charges skyrocketed again, earlier they raised VISA/Mastercard Classic from Rs 150 to Rs 200. Now again, they increased it to Rs 250 annually for basic cards. Even their premium cards like Celesta has a charge of Rs 750 AMC but their no extra benefit like higher ATM withdrawal etc.
3. This Bank is one of the prominent banks in Kerala but they have very limited branches outside Kerala. So, they were providing 10/15 free withdrawals for all customers outside Kerala. Now, they reduced this limit & providing 5 or 3 free withdrawals like other banks with a very high DC charge.
4. Almost all features across SB variants have been reduced drastically. Even, Rs 25000/- account doesn't have any attractive facilities like FD Waiver or High Withdrawal or CashBacks etc.
5. They have even increased prices for every service wherever possible. Moreover, they are not issuing Rupay DC for all account variants. They have introduced several restrictions to issue Rupay Cards which I believe are unnecessary.
Hence, this is becoming another Axis Bank.
Personally, I was enjoying this account as my secondary one with very nominal/zero charges but sudden price hikes with minimal features are giving me lots of pain.
Though, my branch is providing a very good service. They are very much customer centric indeed. I want to know the review from all @TechnoFino Members who are using Federal Bank SB accounts (except Neo Bank customers like Jupiter) about this price hike.
1. Recently they have raised SMS alert charges to 50p/SMS which is costlier than any other major bank in India. Even, 'Charge Ki Khajana' Axis Bank is deducting 25p/SMS for VAS.
2. Debit Card charges skyrocketed again, earlier they raised VISA/Mastercard Classic from Rs 150 to Rs 200. Now again, they increased it to Rs 250 annually for basic cards. Even their premium cards like Celesta has a charge of Rs 750 AMC but their no extra benefit like higher ATM withdrawal etc.
3. This Bank is one of the prominent banks in Kerala but they have very limited branches outside Kerala. So, they were providing 10/15 free withdrawals for all customers outside Kerala. Now, they reduced this limit & providing 5 or 3 free withdrawals like other banks with a very high DC charge.
4. Almost all features across SB variants have been reduced drastically. Even, Rs 25000/- account doesn't have any attractive facilities like FD Waiver or High Withdrawal or CashBacks etc.
5. They have even increased prices for every service wherever possible. Moreover, they are not issuing Rupay DC for all account variants. They have introduced several restrictions to issue Rupay Cards which I believe are unnecessary.
Hence, this is becoming another Axis Bank.
Personally, I was enjoying this account as my secondary one with very nominal/zero charges but sudden price hikes with minimal features are giving me lots of pain.
Though, my branch is providing a very good service. They are very much customer centric indeed. I want to know the review from all @TechnoFino Members who are using Federal Bank SB accounts (except Neo Bank customers like Jupiter) about this price hike.
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Spending ₹50000 annually just to prevent ₹600 doesn't make sense to me.
