Sunday, April 6, 2008

ICICI bank Minimum Balance

ICICI has increased the minimum balance for its saving account to 10,000. It seems they are focussing more on upper middle and upper class customers only. As I feel, Its very difficult to maintain 10K Minm. In This age of consumerism, everybody is loaded with lots of expenses and credit card bills. Banks have fueled the expenses by providing Credit card.

I can't blame this to just Banks, Even we public has become adicted to that and we think why to pay by cash or debit card If I can keep the money for another 30-40 days and I will not have to pay anything extra. But our expenses have increased. I go to Big Bazaar and Even If I don't need anything argent, I will purchase it just because I am not supposed to pay right now. This has lead to Money-Mis-Management.

Anoth thing I came to know, That unlike before, I can not transfer money to any Bank's account at any time. First of all, Bank should fall under NEFT (National Electronic Fund Transfer) and not under EFT. Second thing is, It depends upon the branch also, What I mean, You may be able to transfer money from ICICI bank to SBI, RT nagar branch, But may be you can't to SBI gandhinagar branch. Also, Unlike earlier, You can transfer money only on working days and working time i.e upto 3.30PM on weekdays and upto 1.30PM on saturday.

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