ICICI Bank’s Privilege Banking is awesome! If you’re “privileged” enough to have it, you can simply walk into any Branch, push a couple of buttons on the quirky token dispensing machine (an entirely optional step), and walk right up to the Privilege Banking Counter and get your work done while the rest of the “non-privileged” world waits for their token to show up on a TV screen/monitor.
The “privilege” of course comes with its own set of “grab-my-hard-earned-money” sales pitches and schemes.
The other day, I was at the said Privilege Banking Counter depositing a slightly high-value check (the proceeds from the sale of the Swift and which was already destined to pay off a bridge loan). One look at the amount on the check led to a barrage of questions from the guy manning the Privilege Banking Counter.
- Sir, is this your annual bonus check?
- Are you looking to make some investments?
- Instead of closing your [bridge] loan, why don’t you earn a higher interest by making some investments?
- Sir, are you sure that you do not want to earn a higher interest? [All the while looking at me as if I were quite foolish at declining the investment offer.]
Simple but firm NOs. Out of there in an instant.
Just experienced the “privilege” of making unwanted investments.