If you want to change the bank- do not rush
If you want to change the bank- do not rush
There are several points you should consider while deciding whether you want to change banks. After that some action should be taken.
The central government has decided to merge public sector banks, after which many banks have also merged. Meanwhile, there has been a change in these banks from IFSC code to check book. In such a situation, many people have left their old bank and turned to some other bank. But the decision to change the bank should not be taken in haste. The decision to change the bank should be taken only after considering many parameters, otherwise there may be further losses.
Better Facility-More Money
If the service of your bank is not up to the set standards then you can choose the bank of your choice. Also keep in mind that the fee for better customer service is also to be paid. Consider changing banks only if you are willing to pay a higher price for better services.
Understand this in such a way that while the minimum balance requirement of Rs 2,000-3,000 is required in public sector banks, in private banks it is required to maintain 4-5 times larger amount. Many private banks provide good service to the customers but they also charge more for this. If you want to go to a private bank, then first get information about the charges to be charged for the services.
The decision to change the bank in the desire of higher interest rates is not right. Higher interest rate makes a lot of difference only if you have a large amount in your account. As long as you do not have a large amount (Rs 1 lakh and above) in your account, the interest rate does not matter much.
Strength of the bank
If you are changing the bank, then choose the one whose balance sheet is strong. There is less chance of such banks winding up their business. Government banks are more secure than private banks. But many big private banks also do not fall short in terms of strength.
Branch opening and closing time The opening and closing time of a
bank branch is also an important parameter. Along with this, what is the location of the branch of the bank, it is also a very important issue. The bank should be at a place which is easily accessible.
Product Portfolio If the product portfolio of
your bank does not match your needs, you can shift. Your bank may also offer services that you do not need or do not want. But, you are being charged for them. In such a situation also you can think of changing the bank.