SACHA ADVICE. ACHA ADVISOR.
back arrow Back

Banks which don’t charge on defaulting SIP

reply Share
22 Oct, 2022 by  Shubham Kajaria

Which banks in India do not charge any fee for defaulting SIP? Sorry it’s not about Insurance but help me if you have any idea, if it is neo banks, then what are the pros and cons?


Thanks :)

like like
0
Opinion

3 Answer

Post
25 Oct, 2022
connect with advisor

I haven't seen any client getting charged for sip bouncing within the private banking space....if you've had first hand experience, please share the bank name and we can get the details for you...i m guessing it to be a PSU bank as sometime back we noticed clients getting charged for setting up auto debit mandate as well..

like like
0
icon-comment 1 Comments
icon-reply Reply
connect with advisor
25 Oct, 2022
Shubham Kajaria
like like
0
icon-reply Reply
25 Oct, 2022
connect with advisor

Yes, in the public sector space, banks are charging for bounced SIPs to be equal to the bounced cheque.

For salary accounts with Private banks, there are no charges

like like
0
icon-comment 1 Comments
icon-reply Reply
connect with advisor
25 Oct, 2022
Shubham Kajaria
like like
0
icon-reply Reply
connect with advisor

Hi Shubham


Almost all bank charges for SIP or mandate bounce as of now, the only difference is amount they charge vary from bank to bank, Personally we don't have any idea about neo bank on this categorically as you asked.

like like
0
icon-comment 0 Comments
icon-reply Reply
connect with advisor

Tired of dealing with call centers!

Get a professional advisor for life!

LIFETIME FREE

Rs. 1799

or

Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂