[Resolved]  HDFC Bank Savings Assurance Plan — The maturity value stated different from actuals

Address:

Bangalore, Karnataka

I was adviced for a policy as stated above. I was given a calculation that this will be better than the FD. I was not shown the calculation as the laptop went down of the consultant. I believed and asked them to go ahead if it is so. Since the consultants were known people of HDFC bank I just thought it will be so. But when I did calculation after some time I felt it was way behind the FD returns. I asked them to stop the processing. They said giving stop payment of cheque is not nice. You can withdraw after receiving the bond. I am not sure why they are not adviced to sell a product which is not good - but it is their head ache. For me I lost the interest until I get the value back in my account which takes typically 20 plus days. Will get back to this complaint if this is not cancelled after 20 days. Meanwhile it is for HDFC bank to advice their relatonship managers to explain everything.