Axis Bank Reduced MAD!

[Saiv]

From 10th November its 2% instead of 5% further details Click Here

 

[Mr. BeanMr. Bean is verified member.]

That's a good news for those who pay MAD and postpone the rest of the payment.

 

[Praveen05]

That's a good news for those who pay MAD and postpone the rest of the payment.

Isn't it actually a bad news? If they pay lesser MAD, they have more to pay the remaining so more interest too.

 

[SSV]

That's a good news for those who pay MAD and postpone the rest of the payment.

Isn't it actually a bad news? If they pay lesser MAD, they have more to pay the remaining so more interest too.

Yes, it is more good news to the Bank.. because of more potential revenue...

 

[Praveen05]

Yes, it is more good news to the Bank.. because of more potential revenue...

Got it. Good to bank, Bad to MAD people

 

[SSV]

Got it. Good to bank, Bad to MAD people

MAD becomes more MADDER...if there is a word like that...

 

[Saiv]

Isn't it actually a bad news? If they pay lesser MAD, they have more to pay the remaining so more interest too.

Obviously more revenue for them

 

[Mr. BeanMr. Bean is verified member.]

Agreed! 👍🏽 There is certainly an increased chance to loot people.

 

[real_name_hidden]

It will take 7 years to pay any amount if you pay only MAD as per axis document. That's scary.

 

[Walter White]

It will take 7 years to pay any amount if you pay only MAD as per axis document. That's scary.

Itna documents padne me alas aata hai. Isliye pura bill bhar diya karo. Itna maths nhi lagana padega. 😂

 

[SSV]

It will take 7 years to pay any amount if you pay only MAD as per axis document. That's scary.

and may be 100 times the principal.. 😉
I didn't even open the document
😉

 

[Walter White]

It will take 7 years to pay any amount if you pay only MAD as per axis document. That's scary.

UK ka visa default karne se pehle banva ke rakhna 😛

 

[real_name_hidden]

Itna documents padne me alas aata hai. Isliye pura bill bhar diya karo. Itna maths nhi lagana padega. 😂

2 page ka document h bhai. Usme b padne layak 2-3 line h. Maths to axis walo ne de dia maine kuch ni kia. Utna alas mujhme b h islie full bill payment.

 

[real_name_hidden]

and may be 100 times the principal.. 😉
I didn't even open the document
😉

Thought another devaluation. So checked the document 🤣

 

[karanssh]

Isn't it actually a bad news? If they pay lesser MAD, they have more to pay the remaining so more interest too.

From bank perspective it is a good thing

 

[Praveen05]

From bank perspective it is a good thing

Yes yes, I meant bad news for people who only pay MAD

 

[pxg]

How is this allowed after the RBI rule that stated paying MAD should be clearing debt in a reasonable amount of time?