[Resolved]  HDFC Bank — Unfair Dealings

Address:

North West Delhi, Delhi

I am having policy No.13534598 with HDFC Life. Cheque for the Policy was given on 11th March, 2010 , which was encashed by HDFC life immediately but the Policy was made effective only after 14 days. I made several complaints to the top management of HDFC life,IRDA etc., but no one ever bothered to give any satisfactory respnse for the delay and keeping my money illegally for 14 days. After follow up for nearly 8 months, HDFC life offered me a compensation for 14 days @ 4% . According to HDFC Life, it is the bank rate.

It is important to note that HDFC and HDFC bank charges 18 to 24% interest on delay in payments, but they are willing to compensate clients with NO MORE 4%.

It is absoloute cheating.

IRDA and other regulatory authorities are just fat elephants serving no useful purpose.

Ravinder kumar