Nationalized Bank Vs Private Sector Bank

neerajchauhan

Neeraj K Chauhan
I would prefer a nationalized bank. Banking is an industry where security of money plays an improtant role with accessibility. Nationalized banks like SBI, Canara Bank, PNB etc. have developed these well. Private has gone for beautifying the sites and pioneering of technics. Anyway same facilities would be given by nationalized banks sooner or later.

Moreover, if we take a housing loan from private bank, say, if you wish to take a copy of your original documents after a month or so, it would take about a week or a month in case of private bank. Whereas in nationalized bank, the documents would be available immediately then and there itself. This is because, the loan in a private bank is outsoursed and in nationalized bank, its by the branch itself by grant from head office.

In private banks, newer and newer rules are applied which are favourable for rich class people only, but nationalized banks focuses on average nationals.


:SugarwareZ-216:
 

Pranjali palaye

New member
i would prefer nationalized bank... Private banks are more looking towards beutification.nationalized banks are more secure..nationalized bank are easy to access..
 

Muraly

Par 100 posts (V.I.P)
Private bank like ICICI are quiet rude in getting back the money from its customer for credit card.
 

italy669

New member
I think Private banks are better in terms of security/riskiness whereas nationalized banks are better in terms of service quality
 

kushi99r

Par 100 posts (V.I.P)
i prefer nationalised banking as private banks offer more services but dey dont give enough security for wat v hav invested
 

raman2007

New member
I think that the private banks were giving good services and now the nationalised banks are also picking up and giving a run for their money.
 

deepakraam

Par 100 posts (V.I.P)
Ppl will always feel that their money is safe if they are in a Nationalised banks bcos Govt will bail them out if the banks fail.This is the moving factor for all the PSUs.The sheer deposit base for all the PSUs are due to this factor.Moreover,private sector bank operates with the motto to please their shareholders.But for the PSUs this is not the case bcos the majority holding is by Govt of India.So they are not responsible for the questioning.The shareholding pattern also acts a catalyst for the transparency in their policies which is lacking with private sector banks.So,there are positives and negatives with the both the models and it is good that both the models are existing in India.


-Deepak.
 
V

vardhanvishnug

Guest
its takes huge time in opening an account in a public sector bank and also there is no proper customer service...nobody will respond to u in a public sector bank.....but this doesnt happen in a private sector bank...thought public sector gives more security its a hectic thing to deal with those employees
 
Most of the private banks are well managed.In fact, I would say that some of the private banks have better risk management than public sector banks.Deposits upto Rs 1 lac are insured by DICGC in all private, public sector and cooperative banks. Thus, if you have deposits of less than Rs 1 lac in individual banks, then you don't have to worry at all.India has one of the most robust banking systems in the world and there is almost zero probability that any of the larger banks will ever fail. RBI has a lot of tools like CRR and it is very effective in regulating risk in the financial system.Even if a bank fails, RBI is most likely to intervene and return deposits bank to the depositors
 
List of Nationalized Bank

1 Allahabad Bank

2 Andhra Bank

3 Bank of Baroda

4 Corporation Bank

5 Dena Bank


Would you please add some private sector banks
 
I think the private sector is best for me. Because in private sector banks services are quick and easy and many other facilities are provided in private sector banks. But their terms and conditions may be somewhat tough and hard but they are good in the overall working performance.
 
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