9 Secrets That Banks Will Never Tell  Let You Know!

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1) Some insurance is useless

Your banker may have offered insurance if you bought a credit card. However, some insurance products are pointless, say experts.

2) Not all borrowers get advertised loan rate

Beware of bank-advertised personal loan rates. If you have bad credit, you may not get the stated rate and must pay more.

3) Bank employees have Targets

Believing in the finest friendliness of one's banker? So, think again. They must meet daily, if not hourly, goals.

4) Businesses may pay for your debit card use

When you use a debit card to make a purchase, the shop or company you're buying from pays fees, too.

5) Banks are not best place to invest

Not every bank is a good investment option. Banks may not be able to provide customers with all of the available savings and investing options.

6) Mortgage involve a huge amount of interest

Your bank is making money when you take out a mortgage. Additionally, you'll have to pay a lot of interest on your mortgage.

7) Penalty in selling mortgage home

Were you thinking of selling your house? Congratulations! However, you may have to pay a substantial penalty to your bank because you breached your mortgage agreement.

8) Bankers aren't always honest

Theft of customer data, unauthorized transfers, and the creation of fictitious debit cards are all crimes committed by bank workers.

9) Your bank can freeze your account

When opening a bank account, you should have read the fine print. Banks can freeze and close accounts. Notification isn't required.

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