Yes, but according to RBI guidelines they need to give 30 days notice and if customer does not agree to the movie modified terms, close accounts without charges.
Account closure charges for NSDL PB:
Account closed after 14 days and before 18 months of account opening: ₹ 500 plus GST
Account closed after 18 months of account opening: No Charge
I guess I will wait before closing!
Looks like SMS alert charges are going to become mandatory for NSDL Payments Bank. So NSDLPB is Rs. 60 / year, Zero Balance. Bank of Baroda Advantage is Rs. 2000 minimum balance, but can disable non-free SMS alerts.
India Post Speed Post has started sending me SMS updates recently. This is an improvement but on the flip side, it still takes 1-2 days for items to show up in their system.
Baroda Advantage Saving is not Zero Balance. It has Rs. 2000 QAB requirement. Clearly mentioned in MITC. Also, there are SMS alert charges of Rs. 15 / quarter but these can be disabled. You still get RBI mandated transaction alerts after disabling.
NSDL Payments Bank is zero balance but they...
I think there is a difference between Aadhaar OTP based KYC, which I think is valid for 1 year, and Aadhaar XML based KYC (where you have to upload a file downloaded from UIDAI). I think the XML based one serves as full kyc with indefinite validity. Is this correct?
@SamPtnk in which manner did...
What are the disadvantages of NSDL Payments Bank Jiffy Advantage Savings account? Zero balance required, free NEFT, free RuPay Platinum card, no annual fees. Where's the catch? I keep thinking there is a catch because so many other members seem to want to jump through more hoops to get RuPay...