Bank account: Due to poor CIBIL scores, you may have to face many difficulties. In such a situation, you may have to face trouble. Due to a poor CIBIL score (savings account), you may have to face many difficulties. Due to poor CIBIL scores, your difficulties may also increase. Let us know in detail about these rules related to CIBIL score.

There may be trouble in maintaining minimum balance-

Due to having accounts in more than one bank, you may have to face many difficulties. To maintain each of your accounts, a fixed amount of money (Minimum Balance) also has to be maintained in it. This means that due to having more than one account (benefits of one bank account), you may have to face many difficulties. You are given a maximum of 4 to 5 percent annual return (Savings Bank account interest rate) on that amount. If you invest money in other schemes instead of keeping it in a savings account, then you are given more interest as an annual return.

Extra charges have to be paid-

In many bank accounts, you have to pay an annual maintenance fee (Bank account maintenance free) and service charge (Bank service charge). Apart from credit cards and debit cards, you can also be charged money by the bank for other banking facilities. Here also you may have to suffer a loss of a lot of money.

Credit scores can also be bad-

If you have more than one savings account (savings account rules), then the effect of these accounts will also be seen on the credit score. Due to savings accounts, it can also have a very bad effect on your credit score. Your credit score can also be bad due to not maintaining a minimum balance in your account. Because of this, never take an inactive account lightly and you can close that account as soon as you leave the job.

The IT department keeps an eye on it-

Due to having accounts in many banks, one may have to face a lot of trouble while depositing tax (tax rule on saving account). There is also a lot of hassle in paperwork. Apart from this, information related to bank accounts has to be kept while filing income tax (ITR return file). Often it can be very difficult to gather the record of their statement. Income Tax Department also keeps an eye on not providing details of all the banks.

The account gets converted automatically-

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Due to the non-receipt of salary for three months in any salary account, the salary account can also be converted into a savings account by the bank. Due to conversion into a savings account, there is a change in the rules (IT rules) of the bank regarding the account. After this, the banks start treating it as a savings account. According to the bank rules, it is very important to maintain a minimum balance in the savings account. If you do not maintain it (Minimum balance in your saving account), then you may have to pay a penalty. The bank can deduct money from the amount deposited in your account.