| Address: Kolkata, West Bengal, 700129 |
| Website: www.axisbank.com |
My Mom planed to have a fixed deposit . However, the bank manager of Axis bank- Madhyamgram (code 379181) convinced my Mom to put money in "Life Gain plus 20 participating plan". As told to her, she has to put money for six years and then can get the return after completing six years. Policy statement only was provided after one an d half years after multiple follow ups.
Policy no[protected]
Now, she went to Bank after making last payments hoping to get the money back. However, she was told that this plan is for twenty years and can't be withdrawn. The completely manipulated and provided incomplete policy details during onboarding. As my Mom is not that educated, she agreed and took up the policy that time with trust that she had on bank.
As per the bank guys now, money back can only happen after 20 years. As she had the need of money, she asked the BM to surrender the same hoping that at least she can get back the money paid towards insurance just deducting the bonus or so. However, they told that surrender value is only 30 % of the total amount paid. Seriously, IN 2011, if she would have just taken the FD it would have been 150% by now.
These nonsence guys fooling customers to the core . Don't trust Axis bank or Max insurance.
Expecting a clarification from the authorities.
Axis Bank customer support has been notified about the posted complaint.
We are looking into your concerns vide dispute ID:[protected] and we will get back to you. Appreciate your patience and co - operation in the interim. For any further assistance, please refer to the Escalation Matrix: http://bit.ly/1Hhj7JS.
Regards,
Axis Bank