Konebhar6 Posted October 31, 2023 Report Posted October 31, 2023 To all those who have taken advantage of the high interest rates and took CD's, read below. Upon maturity (say i took a 6month CD), the bank gave me a 10 day notice period to cancel CD otherwise it would auto-renew. I let it auto renew. Today when I checked, it renewed at an interest rate of 0.05% and not at the 5%. When I called them, they say its the monthly rate and it would auto-renew at this rate. Banks are taking advantage and they did not disclose this new interest rate in the letter they sent me. They only mentioned auto renew. 1 Quote
shaktimaan Posted October 31, 2023 Report Posted October 31, 2023 1 minute ago, Konebhar6 said: To all those who have taken advantage of the high interest rates and took CD's, read below. Upon maturity (say i took a 6month CD), the bank gave me a 10 day notice period to cancel CD otherwise it would auto-renew. I let it auto renew. Today when I checked, it renewed at an interest rate of 0.05% and not at the 5%. When I called them, they say its the monthly rate and it would auto-renew at this rate. Banks are taking advantage and they did not disclose this new interest rate in the letter they sent me. They only mentioned auto renew. Class action suit incoming. Preying on people who don’t act on it soon, it’s like tacking extra fees and removing them when someone calls customer care Quote
Konebhar6 Posted October 31, 2023 Author Report Posted October 31, 2023 2 minutes ago, veerigadu said: Idhekkadi twist ayya??? I had a auto renewal in Oct mid. Just checked the details online and I was shocked. Upon calling, they had no answers to my questions. She was like "Oh yeh, sorry, its wierd. Come to bank we will cancel CD without penalty". This is with US Bank. I am assuming other banks might be following same. Quote
Konebhar6 Posted October 31, 2023 Author Report Posted October 31, 2023 2 minutes ago, shaktimaan said: Class action suit incoming. Preying on people who don’t act on it soon, it’s like tacking extra fees and removing them when someone calls customer care Exactly. Time to cancel this account. Quote
The_Captain Posted November 1, 2023 Report Posted November 1, 2023 So, India lo investments better emo, NRE FDs, even property investments, the efforts we may put to sell, pay tax on gains and fund repatriation worth the actual super appreciations we get anipisthundi finally, US lo real estate investments chesthe value eppudu padipothado telidu, financial markets investments are fraud here comparatively, and safe ani cheppe investments kuda with hidden terms and conditions and twists . . Quote
kittaya Posted November 1, 2023 Report Posted November 1, 2023 4 hours ago, Konebhar6 said: To all those who have taken advantage of the high interest rates and took CD's, read below. Upon maturity (say i took a 6month CD), the bank gave me a 10 day notice period to cancel CD otherwise it would auto-renew. I let it auto renew. Today when I checked, it renewed at an interest rate of 0.05% and not at the 5%. When I called them, they say its the monthly rate and it would auto-renew at this rate. Banks are taking advantage and they did not disclose this new interest rate in the letter they sent me. They only mentioned auto renew. You can sue the. Company... Quote
Konebhar6 Posted November 1, 2023 Author Report Posted November 1, 2023 2 minutes ago, kittaya said: You can sue the. Company... ahhh anta opika ledu 1 Quote
kittaya Posted November 1, 2023 Report Posted November 1, 2023 Just now, Konebhar6 said: ahhh anta opika ledu Holy... Quote
jpismahatma Posted November 1, 2023 Report Posted November 1, 2023 4 hours ago, Konebhar6 said: To all those who have taken advantage of the high interest rates and took CD's, read below. Upon maturity (say i took a 6month CD), the bank gave me a 10 day notice period to cancel CD otherwise it would auto-renew. I let it auto renew. Today when I checked, it renewed at an interest rate of 0.05% and not at the 5%. When I called them, they say its the monthly rate and it would auto-renew at this rate. Banks are taking advantage and they did not disclose this new interest rate in the letter they sent me. They only mentioned auto renew. Bank only knows how to make hole. Quote
andhrabullet Posted November 1, 2023 Report Posted November 1, 2023 i checked my disocver cd…i see same auto renew…30 days mundu teseyali…thanks baa for headup Quote
cascader Posted November 1, 2023 Report Posted November 1, 2023 maree pedda amount kaakunte DCU vaadi 3.5% APR savings account better kadaa. no lock-in like CDs. Quote
Konebhar6 Posted November 1, 2023 Author Report Posted November 1, 2023 9 minutes ago, andhrabullet said: i checked my disocver cd…i see same auto renew…30 days mundu teseyali…thanks baa for headup Don’t renew. Rather keep the money in your savings account. Quote
Konebhar6 Posted November 1, 2023 Author Report Posted November 1, 2023 1 minute ago, cascader said: maree pedda amount kaakunte DCU vaadi 3.5% APR savings account better kadaa. no lock-in like CDs. CITBank and fidelity gives 5%. DCU is very less. Quote
surfroshan Posted November 1, 2023 Report Posted November 1, 2023 17 minutes ago, Konebhar6 said: ahhh anta opika ledu 20 minutes ago, kittaya said: You can sue the. Company... yep lawyer gadu readyga untadu mingadaniki more than you 1 Quote
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