I have saving accounts both in SBI and HDFC bank. As a customer, I am comparing both bank's facilities from different point of view what I saw. This content is not criticism of any bank or promoting any other bank. It is just my personal view, your view may be different.
1. Swap Machine
From sometime, I am using swap machine in SBI bank. With just help of my ATM card, I can deposit my money in SBI but this facility is still not in HDFC. This point has come to my notice today, when I forget to carry HDFC bank account no. with me. Thank God, ATM machine was near this bank, so, I could take my HDFC bank account no. from mini statement. My house is little far from HDFC bank and if there was not any ATM machine facility, I had to go back to home. In conclusion of this discussion, I feel happy with SBI's new and fast way of depositing money in bank.
2. Extra Charges on Depositing Money
Recently, I come to know that if I will deposit money more than 5 times in a month in HDFC, I have to pay charges for this. This is funny matter for me. Still SBI is not taking such fees. Any person can deposit 100 times in SBI without any charges. I say it as funny matter for me because as student of finance and accounting, I know, by depositing money in bank, bank get money at cheap rate of interest. It means, more bank will receive saving money, more bank receive profit by selling it to those who need loan at high rate of interest. Second, this is the time of competition, I remember, when I opened my HDFC bank with my Rs. 5000, other private bank's agent offered me to open my account just with Rs. 2500. It means, all bank need saving money on 3.5% interest rate.
3. Visa Card is Available only for Big Depositors
In the beginning of account in SBI, my money was very small in my SBI account. At that time, I need Visa card. I went to SBI and SBI officer reject to give me Visa card and same Visa Gold card, I got just opening account with Rs. 5000.
1. Swap Machine
From sometime, I am using swap machine in SBI bank. With just help of my ATM card, I can deposit my money in SBI but this facility is still not in HDFC. This point has come to my notice today, when I forget to carry HDFC bank account no. with me. Thank God, ATM machine was near this bank, so, I could take my HDFC bank account no. from mini statement. My house is little far from HDFC bank and if there was not any ATM machine facility, I had to go back to home. In conclusion of this discussion, I feel happy with SBI's new and fast way of depositing money in bank.
2. Extra Charges on Depositing Money
Recently, I come to know that if I will deposit money more than 5 times in a month in HDFC, I have to pay charges for this. This is funny matter for me. Still SBI is not taking such fees. Any person can deposit 100 times in SBI without any charges. I say it as funny matter for me because as student of finance and accounting, I know, by depositing money in bank, bank get money at cheap rate of interest. It means, more bank will receive saving money, more bank receive profit by selling it to those who need loan at high rate of interest. Second, this is the time of competition, I remember, when I opened my HDFC bank with my Rs. 5000, other private bank's agent offered me to open my account just with Rs. 2500. It means, all bank need saving money on 3.5% interest rate.
3. Visa Card is Available only for Big Depositors
In the beginning of account in SBI, my money was very small in my SBI account. At that time, I need Visa card. I went to SBI and SBI officer reject to give me Visa card and same Visa Gold card, I got just opening account with Rs. 5000.
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