There are several factors affecting the Services of SBI Bank. The most important among them is that of managing the accounts and handling the accounts receivables. The other factors are as described below. The main thing to note for all the financial institutions like SBI, HDFC, ICICI bank, etc. is that they should always try to reach common ground through cooperation and mutual understanding.
The foremost factor affecting the Services of SBI Bank is the management of the accounts receivables by them. The banks should concentrate on their core activities of lending and they should get a higher rating in the market through satisfactory management of accounts receivables. The customers should be satisfied with the manner in which they are handling their financial matters. The satisfaction level can only go up if the banks are ready to change the ways of operating and improving their processes and procedures to attract more customers.
In order to improve the Services of SBI Bank customers, a high level of service quality is a must. The services should be of a very high standard because this will increase the level of trust and faith from the customer’s side. The customers should also be provided with the flexibility of using the card to any amount, anytime they want. This should be encouraged by the banks because it would encourage a level of competition among public banking institutions. The banks should provide excellent service quality in every field. If a customer is not satisfied with the quality of the service he/she is provided then it is very likely that the customer would shift to another bank that offers better services.
Factors Affecting Customer Satisfaction
The second most important factor is the way the banking transactions are performed. The banks should focus on their customer satisfaction levels and try to provide every customer with a hassle-free and convenient banking experience. If there is no clarity on the point of view of the management about how a transaction should be processed then it is likely that there would be dissatisfaction amongst the customers. If the customer is not satisfied with the way a transaction is processed, then he/she will be likely to shift to another bank which offers better services.
Other factors affecting customer satisfaction are the interest rates and the payment conditions. If the customer is not satisfied with the interest rate he/she has been offered, then the overall satisfaction level would be reduced. It is expected that most of the public and private sector banks in India offer competitive interest rates in the competitive environment. If the interest rates are kept low in the competitive environment, it will be difficult for the banks to attract new customers. There are various factors affecting the interest rates and the customers should have an in-depth knowledge about these factors.
The repayment options of the customers are also one of the key factors that affect their satisfaction level with SBI Personal Banking. Most of the public and private sector banks offer debit cards and credit cards, which are quite convenient and easy to make payments. However, the customers should have a complete idea about the repayment scheme and the time period required for the repayments. When compared and contrasted with the other bank loans, the interest rate and the repayment schedules can provide an idea about the service quality and the satisfaction levels.
What Is Saving Account?
What is a saving account? A saving account is basically a bank account in a retail banking institution whose features mostly include the following: it doesn’t have cheque facilities; it does not feature an attached debit card facility and generally don’t have a linked credit card facility. It is designed for the purpose to save money, which the customer deposit does not wish to be spent on any purpose except the ones for which it is intended.
So what is a saving account? The saving account is mean to be use for day-to-day transactions as it does not allow you to make advances or to use your funds. If you have a saving account in a bank and if you wish to go in for a particular product such as a car, home or debt consolidation loan or even a holiday vacation, then you will have to visit your bank and apply for a saving account which may be either free of charge or with a minimal service charge. You can use this saving account for any purpose that you like.
So what is saving account? The question “what is saving account?” You may need a sum of money to cater for your wedding, vacation, new home etc… The best way to manage such a large amount of money is by opening a saving account with a bank where you may deposit a certain sum of money each month.
What is Current Account?
In international economics, the current account records the actual value of imports & exports of goods & services in a particular country. It is among the three elements of a country’s balance of payment. The other two being the gross domestic product and foreign exchange. The account is used to do on the basis of the current assets and liabilities. This means that all foreign assets are included and all foreign liabilities are list. In international comparisons, it is usually reflected as a current asset and current liability. With the current account is the balance between the two.
A country’s balance of trade is determine by the inter-country trade balance. Which indicates the difference between the value of the goods. That is import into the country and the value that is export from it. By tracking this balance, it becomes possible to assess the performance of the country. In terms of trade and foreign direct investment. Current accounts are important for a variety of reasons. One is to determine the inflows and outflows of money. Another is to monitor the opening and closing balances and to assess the effect of trade policies.
The current account are use to track the movements of assets & liabilities. It also helps the government and central banks by allowing them to examine the relationships between current assets & current liabilities. And to establish the sources of inflows and outflows. By doing so, they are able to forecast the balance of payments and the level of interest rates.
Difference Between Equity Home Loan & Personal Loan
There are many differences between equity home loans and personal loans. These differences may be confusing especially. If you are not clear regarding the type of loan that you are applying for. If you want to get a home equity loan for debt consolidation. Then you can rest assured that you are applying for a personal loan. If you want a home equity loan so that you can go for debt consolidation with another lender. Then you will be more confused as to what type of loan you are applying for.
Home equity and personal loans are basically the same things. Both are loans taken against your home and both have the same scope as far as the borrower is concerned. The only difference between these two loans is that home equity is secure by your home. Whereas a personal loan is unsecure and is take against an asset. The basic difference is that you are putting your home up as collateral for your loan. And if you default on the loan, you will lose your asset.
You need to take a home equity loan only when you need finances. And you are very sure about the repayment of the loan. When you apply for a home equity loan, the lending company will require you to put down a huge amount of money. As a down payment in order to get the loan. It is important to remember that you should never borrow more money. Then you can afford to pay back to the lending company.