Outlook Money
With banks like NICBL merging into Saraswat Bank, customers may face changes in account details, digital access, and service structures.
It's crucial to update UPI, salary, EMI, and stored payment information because mergers may result in new account numbers or IFSC codes.
New debit or credit cards and cheque books can be issued to you and your old ones may only function for a limited changeover time.
As unless you choose a new product provided by the combined bank, your loan's EMI, rate, and tenure stay the same.
Fixed deposits retain old rates until maturity, but new or renewed deposits will follow the acquiring bank’s interest rate structure.
Your home branch or familiar employees may be transferred to a new site after some bank branches may close or merge.
You might have to sign up for a new banking app or portal that includes different user interfaces, new logins, and mobile verification.