Bharti Axa — Agent Fraud to get policies by offering loan (Aditya Birla Company Loan of Life Insurance)

This is to inform you that I have been cheated and misinformed regarding the policies by your agent by offering loan against policy from Adithya Birla Capital Loan.
On 09-march-2022 got a call from agent, he introduced himself as Adithy Birla executive, we provide loan on life insurance, Agent name id Abhishek Kumar (Contact Number [protected]), If you take policy from Bharti Axa, we will provide loan on policy bond at interest rate 4.9%/year by pledging the policy. He offered some discounts if make the payment on 09-mar-22 like 50% policy premium given back. Then i paid 75000/- and I received policy document from the company (Policy Number:[protected]. He asked copy of physical policy document to process the loan amount and told me to wait for 17 day then loan will be disbursed. I waited for 17 day but i didn't receive loan amount.
then i called him and asked why loan is not disbursed, then he started another dram that premium amount is not sufficient to process the loan amount, you need to take 1 more policy of premium 35000/-. to process the loan amount Rs 15 Lakh.
He processed another policy for 35000/-, and he told me wait till you receive physical policy ( Second policy[protected] document to process the loan. I waited for more than 22 days but i didn't receive my loan.
then one lady called from the same number one lady (as Divya) continued by saying Sir is on medical leave. I will look on behalf him.

I sent soft copy of physical document... I didn't receive any updates from them, Then i realized that simply i have spent 1.1 lakh on BhartiAxa...

In each stage so many people were calling from different number for account verification, disbursement verification.
Finally, I my conclusion is that, I agreed that BhartiAxa will not provide loan on policy when we applied for policy.
The systematic process the approached to get TWO policies from me... Its pre-planned cheat from BhartAxa through their agent...
I request to cancel my policies and Refund my policies premium amount to my account.

Finally... BhartiAxa is cheating its CUSTOMER through its agent or They have agents to cheat people just to their policies
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4 Comments

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the exact same thing happened to me, please contact me I'm planning to file offline complaint and go with legal.
Ajit29's reply, Aug 23, 2022
My contact No. 9337474063
Please contact me so that we can together file a complaint.
I had the same call today. A woman said she is calling from Head Office of Aditya Birla Capital and they have tie up with Bharti Axa. Later in the call she happened to mention they are from Tally(?) marketing. So she told me they provide loan at 4.9% interest. I asked for T&Cs to which she asked me for my salary info. I asked if they needed my Gross or Net Pay. She replied either one of them which I found weird. So anyway she asked me how much loan I wanted. I said 3L. She then went on to give info about life insurance. Apparently I have to take a life insurance for which the premium is 10% of loan amount and I have to pay that for 10 yrs and I would not have to pay any interest and only the principal amount (10% of 3L for 10yrs = 3L). This sounded too good to be true because I would just be repaying principal amount over 10yrs without any interest. Then I asked what is the 4.9 interest she spoke about at which she changed the topic.

I asked for all this information/product brochure over email. She insisted that since it is promotional offer they won't send an email instead she will connect me with her senior who would Whatsapp me the details. I insisted a written email so I can go through all information she was providing and take an informed decision. She also went on to say that loan amount will not be disbursed until I pay the first premium and the entire process will be online. When I was adamant on an email she hung up the phone. The phone number from which I got this call is [protected]
Jibhau's reply, Oct 28, 2022
Same thing happened with me.
Can we file complaint against this??
Even the same thing was told to us after seeing the above comments i stopped making the payment, please kindly do not cheat the people it would be there hard earned money,
when you say u can get a loan on interest rate at 4.9% any common man will get tempted,
i think there is no tie-up b/w bharti axa and adithya birla
person name was jivika ph:[protected] /[protected]
Received similar call from Delhi no.[protected]. When I questioned how come such a stupid financial lending plan from Aditya Birla, lending money now and receiving the principle & interest of 4.9% only after 20 yrs.. no proper answer and they were hesitant to share a formal mail confirming details of the lending proposal and contractual terms. This clearly indicated they were scammers and I declined to go ahead. I rejected their further calls. Please take care of such unrealistic proposals and take time to authenticate without deciding in a hurry!

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