Personal Finance - Citibank NRV - Minimum Balance - Insanely High - 2 Lakhs in IPO's & MF's - I worked in HP and had my salary account with Citibank ... I quit HP and its no more a ...
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Citibank NRV - Minimum Balance - Insanely High - 2 Lakhs

  1. 02-26-2013 10:35 AM
    rmani84
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    Citibank NRV - Minimum Balance - Insanely High - 2 Lakhs

    I worked in HP and had my salary account with Citibank ...

    I quit HP and its no more a salary account ... I have 4 personal loans linked to this account and i cannot close it for another year ....

    Citibank has now changed my account to non-salary account and from April 2013, i need to maintain Net Relationship Value (NRV) of 2 Lakhs ...

    While NRV includes Mutual Funds, Savings account balance, Insurance, Home Loan outstanding, i cannot invest money in any of these at this point.

    In any case, asking a minimum balance or relationship value of 2 Lakhs is insanely high ...
    Its much better to do banking with SBI (Their online banking is as good as any private banks today. They may have lacked in online banking before, but its no more a problem ...

    Think twice before you bank with Citibank either with savings account or credit card or personal loans or home loans.



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  2. 03-09-2013 12:58 PM
    sentiboy

    Citibank NRV problem

    Hello

    I am also facing the same situation. Can't we reach out RBI for this and get this resolved?


    Thanks!
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  3. 03-11-2013 03:33 PM
    rmani84
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    Quote Originally Posted by sentiboy View Post
    Hello

    I am also facing the same situation. Can't we reach out RBI for this and get this resolved?

    Thanks!
    I wish there's a easy way for that ... But, surely Citibank will lose customers over the next 12 months and will repent for its mistake.
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  4. 04-10-2013 06:34 PM
    rmani84
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    Citibank has started charging penalty of 500 Rupees per month plus tax of 60 Rupees. Below's my penalty charge for month of March 2013

    29/03/2013 SERVICE CHARGES FOR MAR 2013 500.00
    29/03/2013 SERVICE TAX 12.00 p.c ON SERVICE CHARGES - 58XX1XXX07 - Rs 500.00 60.00
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