HDFC Bank — LOST 2 LAC RS, BANK ASKED FOR LOCKER ALLOT AND INVESTED 2 LAC RS INTO WRONG INVESTMENT FROM THERE OWN CHOICE.

Address:

East Delhi, Delhi

To,
Concern person
Subject: Investment manipulation during Account opening
Dear Sir/Madam,
I, Kanchan Sharma wanted to complain about Deputy/Assistant Manager Ankush Verma.
We came to the Vishwas Nagar bank to open a saving account on my name and my sister’s Beena Sharma’s name. During the initially inquiry we were told to get classic status saving account we must invest one lakh each in HDFC life insurance (HDFC Young Star) according to HDFC bank policy. Please note this was apart from our saving account. Post the same conversation Beena Sharma invested 100,000 in the life insurance policy and promised reminder of 100000/- will be we invested in one or two months which she did. I myself invested 800,000 rupees in fixed deposits. We also took a locker on joint account. Latter due to personal reason I wanted a separate locker. Hence I approached the manager (Ankush Verma). He advised me that to get a new locker on my name I should invest an additional sum of 50,000 in Life insurance policy (HDCF Young Star) per bank policy in addition to my fixed deposits.
Please note I was completely unaware of the terms and conditions of the policy. I personally told the Manger that our (mine/ my sister’s) money should not be invested in Unit link based plan. I was made to sign the same in urgency. I got the actual insurance policy documents latter (3 months latter) this was then same for my sister Beena Sharma as well.
When I received the documents I read through the same and understood that it was a unit link equity based plan and has a 6000/- rupees annual maintenance fees on two lakhs.
I am a 12th fail student and do not understand the nitty gritty of the policy details. I am taking my Husband’s help in drafting this very letter. I trusted HDFC and its caretakers (employees) to help us safe keep our money. What has happened now…! I have incurred losses on the unit link plan and on top of it I have to pay 6000/- is deducted from my investment as maintenance fees from my remaining principle.

POLICY NO -

[protected] FROM THE NAME OF BEENA SHARMA
[protected] FROM THE NAME OF BEENA SHARMA
[protected] FROM THE NAME OF KANCHAN SHARMA


Note point told by Manager during investment.
· He did not tell us about the maintenance fees what so ever

· He informed us the locking period is five years

· He did not inform us it is a unit link plan

· We were only told this is life insurance plan

· Did not disclose any minimum sum assured or benefits of the policy

· Did not give us any broacher or paper at the time of investment

· We were also not told that if we are not happy with policy we can cancel the same within one month

NOTE - I SENT THE SAME COMPLAINT TO HDFC GRIEVANCE AND THEY REPLIED THAT, THEY ARE NOT RESPONSIBLE FOR IT ALL. THERE STAFF IS TELLING THAT THEY INFORMED US EACH AND EVERYTHING BEFORE INVEST OUR MONEY, BUT ACTUALLY THEY ARE LYING TO THE BANK AND CUSTOMER BOTH. TO CHECK THE SAME YOU CAN CHECK THE CAMERA FOOTAGE OF TIME WHEN THEY TOOK SIGNE FROM US ON ALL PAPERS OF INVESTMENT.

Only when we (I and my sister) grew suspicious about our investments in HDFC after looking at the statements. I inquired about the same with other policy providers I came to know we were cheated by HDFC Bank.
I would request you to investigate this matter thoroughly and save our hard earned money going away from us.
Thanking you,
Yours Faithfully,
Kanchan Sharma
Cell Phone #’s
[protected] and +[protected]