[Resolved]  ICICI Prudential — miss selling

I had a similar experience with ICICI - the branch in Jayanagar, 3rd Block, Bangalore. Mr. Ravi Ranjan and Preeti told me that we would be investing in mutual funds, not in a life insurance program. They specifically stated that the fees would be 0.9% and 1.35%. What they failed to mention was that 0.9% was monthly and at the end of the 5 years (during which time I could not withdraw the funds), I would have lost 55% of my investment to this fee alone. Luckily, I had a cousin who had some knowledge of this program and I called to cancel this investment. They took advantage of the fact that we wanted to invest in India, that we were in a hurry and returning back to the US in a couple of days. I was quite distraught at my own idiocy and dismayed that a reputed bank would scam its customers in this way.