Why should we avoid HDFC Bank?
A few months before my tenure with my previous organization began, I had to open an account with HDFC Bank. It was with Nungambakkam branch. Initially, my the then organization used to give us the monthly salary through Citibank Checks. I normally deposited them in this new HDFC Bank since it was en route and withdrew from the ATM card. After a while, when we had our own salary account with Standard Chartered Bank, I chose not to close this but at least to maintain a minimum balance and keep running it.
Time went along but then the rapport and trust with HDFC bank came down step by step. Simply put a few of the following failed to accomplish: 

  1. No valid response regarding renewal of ATM Card. The website says availability of ATM card in lieu of Debit Card but the branch and phone banking are emphatic on debiting a costly issuance + annual fees on debit card stating that ATM cards are not supported. When I quote that your website promises otherwise, you only witness a grave silence from their side other than an autoresponder.
  2. When you opt for Fixed Deposit in any branch, the agents crowd around soliciting for mutual funds. I have recently quoted about an interesting quotation about Mutual Funds in my other discussion about ‘Value for Penny‘.
  3. When I chose to close a fixed deposit, one branch says base branch; base branch says nearest branch and sometimes I get replies “4 Working Days”.
  4. Last year, before I travelled to US, I thought of getting the TDS Certification and submitting a Form 15H for tax exemption. But one of the Velacherry Bank staff (Lakshmi Seshadri) was busy giggling with her colleague more than responding to customer queries. This issue went to sleep for a while.
  5. This january after a long sleep, this was put to a period. I forced a three step operation:
    1. Break the deposit at ITC Center, Anna Salai and took some amount there and transferred to my other account.
    2. Took my other amount by cash withdrawal at my parent branch.
    3. The parent branch was refusing closure of account. Hence I lodged a report to CustomerCare and filed subsequent closure requests at Selayur and Tambaram Sanitorium to have it closed.
    4. You may ask me “Why do you withdraw at three branches?”. The simple answer is that Chennai these days are filled with pocketpickers. If they observe you withdrawing full fixed deposit, you risk losing it. You ought to distract them to stay safe”.