Don't banks just drive you crazy?

I know there are people who think banks IN GENERAL are really bad, but I must admit I have had both good and bad experiences with them, so I don't really get TOO angry with banks. The latest experience, however, was VERY frustrating!

One of my reasons for my trip to SG last week was to settle the car loan, renew insurance and road tax. SO, went to do the car loan first. Now, if you are LATE in your payments, they will chase you, fine you, penalise you and take your property off you (if you continue to be late in payments, that is).

In my case, I have always, always been early in paying, and always pay 2 months at a time as I have this paranoia about forgetting to pay for something! Then, to add insult to injury, when I wanted to settle the loan - ie, they get ALL their money, they don't have to worry any more about me defaulting on the loan, etc, etc, etc... and, what do they do?? THEY HIT ME WITH THREE PENALTIES!!! So, on the one hand they say, "Oh, because you are paying early, you save S$2700 in interest."... THEN, on the other hand, they say "Oh, because you are paying early, we penalise you this, this, and this, and we take back S$1670 in penalties"!! So, in the end what do I save? Just S$1030. Go figure!

Let us just say that I was extremely sarcastic, without raising my voice toooo much, to the person on the other end of the phone, who did not have the guts to come downstairs to his own bank reception to face me but instead left the poor girl at the counter to face my wrath. And, No, I did NOT take my temper out on that poor girl - she was awfully polite and efficient and it was no fault of hers.

And, you know what else I don't understand? In this day and age of high technology, why is it that car loans are still not calculated on daily rest? Or even monthly rest? I mean, it is not as if it cannot be programmed into their various banking systems! It is done for housing loans, why can't it be done for car loans (especially since some cars cost more than some houses!!). Where is the logic?

Banks! Bane, or Boon?