What are my rights as a Bank Customer?

As a consumer you have certain rights, some of which are listed below:

1. Right to Fair Treatment

Every customer must be treated equally and with dignity, despite their age, gender, religion, physical ability, caste or economic status.

But, this does not mean banks cannot offer differently-priced products to different groups, like cheaper insurance schemes from the government.

1. Right to Fair Treatment

2. Right to Transparency, Honest and Fair Dealing

You have the right to know and understand the information on banking documents and agreements in a simple language.

2. Right to Transparency, Honest and Fair Dealing

3. Right to Suitability

You must be offered a product that best suits you based on eligibility and benefits and not what the seller will get a commission on.

3. Right to Suitability

4. Right to Privacy

Banks must protect your personal and banking information. They must not give it to unauthorized persons.

You have a right to own your personal banking information. What you do with your bank account is your personal choice.

4. Right to Privacy

5. Right to Grievance Redressal and Compensation

You can ask for a solution against unfair treatment or dishonest dealings from a bank and any third parties like insurance providers.

5. Right to Grievance Redressal and Compensation

If any of these rights are violated, you can make a complaint to the Reserve Bank of India (RBI).

To understand more about which situations to file a complaint in, read the next section

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