Disbursement of annual loan statement

As you know in our India there are so many senior aged persons who still do not use emails hence they face difficulties in collecting loan statement from bank because --- whenever they visit Bank they had to come out empty and the reason behind is - some time printer is not working and on another occasion they will take some other excuse.Whereas at this age bank visit is also full of stress for senior aged persons.

Due to any reason SMS facility is charged service whereas we don't have any transaction except EMI payment hence we do not opt for this service though in our opinion when banks are earning from customers like us i.e. those who have taken loan and paying timely interest etc. then to these they should not charge for SMS in acknowledging [after clearance ] EMI payment.

For your information other regulators such as SEBI has made mandatory to send DP statement / MF statement /Transaction statement etc- hence we are getting these at our address by courier which is really relief and appreciable similarly we are also getting statement from Life Insurance Companies too due to IRDA .

In view of above R B I should advice all concerned i.e. all loan providers to send at least yearly statement [ as we are not asking for monthly / quarterly ] to all customers except those who opt over email. I trust you all will agree with this view point and initiate whatever possible at your end so that it gets implemented earliest

G D Binani
Bikaner
gd_binani@yahoo.com
9829129011 more

Helpful Connected Consumers Feb 12

Viewed by 3432

View all 35 comments Below 35 comments

Satish T

banks should make provision to send email copies of bank statement for our accounts, loan accounts and FD accounts at least once a year ; where email is not there, they should send by post. more

Feb 29

Gopabandhu Mohapatra

Banks should be transparent and provide all information for the benefit of the borrower. more

Feb 20

R V K BABU

1. In SBI, SMS charges are deducted regularly .But we don't get SMS regularly. If asked they it is server problem. If the service is charged and service is not provided what should be done. 2. I have two accounts at my work place and other is my family station. If money is sent from one account to another SMS should come from both the accounts because SMS service charges are charged from both the accounts . But most of the times SMS comes from recipient account only. Some times no SMS at all. 3. I am having accounts at place A and place B. A/C at a place A is connected to make SBICARD payments. Once at the time of bill payment Due date, I was at place B. Went to branch and tried to pay the credit card bill in cash at the counter. but they informed that on that day the facility is not Functional. I wanted to pay cash in my place A account and pay the bill on line. Non home branch account cash deposit will be charged Re 50 . 4 At SBI credit card dues payment reminders com promptly. but payment acknowledgment SMS will come only after due date even the payment is made online in advance. In addition the reminder SMS continue till due date despite payment already made . It make us keep guessing if our payment reached the SBICARD or not. these are only few . more

Feb 16

Ramamani Sadasivan (n.a)

LET IT BE MADE " MANDATORY " ON ALL NATIONALISED BANK AND OTHER BANKS THAT THEY MUST PROVIDE A PRINTED STATEMENT TWICE IN A YEAR " IF THE CUSTOMER DEMANDS FOR THE SAME - IN WRITING " FAILIURE TO ADHERE, WOULD BE DEEMED AS " DEFICIENCY OF SERVICE "....!!!... more

Feb 15

Suresh Adina

Is this really an issue? As far as I know all banks and FIs send out period statements for all accounts that the customer has, with the institution. more

Feb 15

View 35 more comment(s)