SBI Bank account number portability 2016 Online Form

Bank account number portability 2015

SBI bank account number portability Bank from one bank to another axis hdfc icici bank Online Form procedure state bank of india Saving Account Number Portability Saving Account number Portability another bank Savings Bank interest rates While evaluating the shifting of savings bank 2014

SBI Bank account number portability from one baroda gramin private bank to government bank to another axis hdfc icici bank just because the other bank is offering higher rate of interest it was concluded that it is not a best possible solution. there is no guarantee that the new bank would not decrease interest rates on savings in future and also there is no guarantee that the existing bank would not increase the rate of interest on savings bank.

if a customer is not happy with the services offered by the existing bank and being offered higher rate of interest by another bank can thought of this option provided he is ready to accept the challenges and pain to get updated the new savings account details with all those service providers who have been linked with the existing one such as there may be loan EMI linked to existing savings account, SIP ECS and other insurance premium ECSs may be linked with this or his employer database may be disbursing salary to the existing savings account etc,.

some technical aspects can be known only once the same came into existence like whether all NEFT/RTGS inward payments can be diverted automatically to the new account or not.

But it is clearly evident that deregulation of savings bank interest rates with account number portability would be very effective tool available with the depositors to tackle erring Bankers.

There were some news on backstage that proposal to allow account number portability across the Banks in India is being thought of by the regulator.

If this concept come into existence, the benefit of deregulation of savings bank interest rate can be fruitful to the public at large because in that scenario a depositor going for porting his savings bank account to some other bank due to higher rate of interest or due to some other reason he would get the same account number and probably most of the hassles like updating new account number with various entities would get reduced.

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