The Hindu : BSNL may become most preferred choice

Online edition of India's National Newspaper
Sunday, Jan 25, 2004

Tamil Nadu

Tamil Nadu - Madurai

BSNL may become most preferred choice

By S. Sundar

MADURAI, JAN.24. Apart from being the number one operator in telephony services, the Bharat Sanchar Nigam Limited may also emerge as the most preferred choice for short-term deposit of money, for the attractive rate of interest it offers for its voluntary deposit scheme.

The nine per cent rate of interest of the BSNL is higher than any other the interest rate for fixed deposit schemes offered by the banking industry.

Under the scheme, BSNL B-Fone landline subscribers can make a voluntary deposit with the organisation, from which, the bi-monthly telephone bill amount will be deducted automatically.

Though the "interest bearing balance" scheme has been in vogue since 2001-2002, the BSNL's present attempt to popularise it is likely to be a big hit, as the interest rate for savings bank account and fixed deposits in the banks has come down drastically in the recent times.

The highest rate of interest for fixed deposit of five per cent offered by the nationalised banks falls short by four per cent to match the BSNL's rate of interest.

Though the scheme comes as only an additional option of payment, in order to relieve subscribers from the pain of standing in queues at payment counters of the BSNL, nationalised banks and post offices, it is likely to become popular, because of its attractive interest rate.

Besides counter payments, the BSNL has also offered electronic clearance scheme, through which the subscribers can authorise their banks to make payment of their telephone bills.

The subscribers are also eligible for one per cent discount on their bills. The minimum deposit under the voluntary deposit scheme is six times the average monthly bill and the maximum deposit can be up to 12 times.

Stating that the "customer-friendly" scheme would be mutually beneficial for the BSNL and subscribers, the General Manager, BSNL Madurai, K. Subbiah, said, "While we get the payment much in advance, subscribers can feel free of the risk of paying surcharge for delayed payment and avoid disconnection owing to non-payment".

Besides, the BSNL has also waived the payment of Rs.30 for providing detailed billing with effect from January 2004. Customers, who are getting the detailed bills for the National Subscribers Dialling (NSD) and International Subscribers Dialling (ISD) calls, can now get them free-of-cost. However, the facility will be offered only on request.

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