If you are a Senior Citizen, everybody wants a piece of your money, so life is not easy.
Having said that even if you are not a SC there are a lot of people who want all your money, what do you do?
First of all, we all need a bank account, so it is an essential service. There are only 2 types of banks – owned by the government a.k.a Psu banks like SBI, Corporation, Canara….all the sarkari banks. The other banks are owned by the FII in whatever name called a.k.a private sector banks – Hdfc, Icici, etc.
Both of them do not care about you. Unless of course you leave Rs. 20L in your savings bank account for 8 months, buy some atrociously priced ULIP, …etc. or even better you have no money and are willing to borrow.
If you are treated badly, you can always go to another bank says the Regulator. How feasible is this?
I do not think it is possible to shift from Hdfc bank to Axis and then find that SBI works for some other friend.
Well for one, complain loudly.
It is embarrassing for a banker to see a senior citizen complain. Most of the other customers will (I have ensured that some senior citizens get good decent service)..
Complain to the higher authorities, Ombudsman, RBI, PMO. Just scream.
Most of the times in a PSU bank it is just that the employee does not care about you, and knows that you do not have a choice. In a private sector bank, learn to say NO to every new product that they offer.
Remember the RELATIONSHIP MANAGER has a revenue target
Your RM has a revenue target – so every RM on every call tries to increase his revenue. Nothing wrong with that either. You need to learn to say NO.
Your RM is not your financial planner:
He does not understand your financial goals, making a will, Estate planning, …etc. but he does speak that language, be aware.
many more to go…later on!!
more to come later…..
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