Banks Complaints - they are cheaters,
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View All Banks Complaints 21 Apr, 2009 By DANISHthey are cheaters,
friends Banks are made to help assist the grouth, they are bound by the State government to provide the finencial facility to public as gov cant provide that alone, but as i have com across i have found that around the world interest rated have colapsed but in our beloved pakistan they are just yesterday was reduced to come at 14%, well this is by the state bank point pf view, they dont really hav eany view on what banks are doing, they taking the money for even less then that like 10% and 11% per anum but when yopu are going to get you have to pay around 31% p/a, no bank is takeing into consideration the guide lines on state bank!
i really would like to know if any of you can pls give me the statebanks rule for the banks to charge interest and other ways of taking money out of our pockets i,e, fees,
my email danishmasood_vu@yahoo.com
waiting for your feed,
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It is sad indeed that the banks here have such huge spreads. State bank charges them 14% (after reduction yesterday) but the customers charge their customers at least 22% these days. I think its a robbery and I cant understand why the government or State bank doesn't intervene!
For resolution of any specific disputes with a bank, State bank has setup "Banking mohtasib". There was a report on this on GEO.tv a few days back. The website is: http://www.sbp.org.pk/cpd/education/RCG.htm
Aah one side of picture the bank follow the instruction given by the SBP then there are so much checks on banks that they not on any other department or orgaizations in pakistan. so it is not right to say that the banks are charging more. The high rate is only b.coz of the economic crises that is hitting not only pakistan but also the internationl banks and organizations. thats why the banks these days are very carefull in giving out the loans and to stop lending the banks had made the criteria hard and the rates are also high so just pray the condition get better only then every thing will be normalize.
