[Resolved]  UTI — Business through wrong information

Dear Sir,
at the time of lounching UTI Fixed maturity plan Yearly FMP series YFMP(10/10)-Growth Plan, SMS recieved from UTI portal that 8.57% intrest will be as fixed deposite.but today after maturity i get SMS regarding amount redemption which is 8.278% . please clarify ?

Regarding this complaint alraedy posted at customer care. after intertaining this complaint Chief manager of Bokaro Branch met with me.and assured that u will get same as mentioned in my SMS.after that no communication done.

But when I get SMS after redemption my unit, try to contact on mob no.--[protected](Chief Manager -UTI Bokaro Steel City) then no response found.

So please justify.



Message came from TD-UTI MF on 21.10.2010 that---UTI MUTUAL FUND LAUNCHES FIXED MATURITY PLAN(EQUIVALENT TO BANK FIXED-DEPOSIT) FOR 13 MONTHS WITH TOTAL RETURN OF 8.57%. AUTOMATIC WITHDRAWL ON MATURITY. CLOSING ON 25-OCT-2010. KINDLY CONTACT YOUR MUTUAL FUND AGENT OR UTI MUTUAL FUND OFFICE.



after this advertisement, i invested Rs.30000/- through Mutual fund agent. When certificate came from UTI mutual fund then found it was NAV based mutual fund of NAV-Rs.10/-unit. There was no description about return of 8.57%. When i complained to UTI customer care, then Mr. Sajal Kumar Bhattacharya meets/visited me. but he said that such type of certificate can not be given to you, because It is NAV based plan. But he ensuring me for that return by verbally statement.

Please give me response for proper action



Message came from TD UTI MF on 21.10.2010 that UTI MUTUAL FUND LAUNCHES FIXED MATURITY PLAN EQUIVALENT TO BANK FIXED DEPOSIT FOR 13 MONTHS WITH TOTAL RETURN OF 8.57 percentage. AUTOMATIC WITHDRAWL ON MATURITY. CLOSING ON 25 OCT 2010. KINDLY CONTACT YOUR MUTUAL FUND AGENT OR UTI MUTUAL FUND OFFICE.after this advertisement, i invested Rs.30000.00 through Mutual fund agent. When certificate came from UTI mutual fund then found it was NAV based mutual fund of NAV Rs.10 per unit. There was no description about return of 8.57 percentage. When i complained to UTI customer care, then Mr.Sajal Kumar Bhattacharya visited me. but he said that such type of certificate can not be given to you, because It is NAV based plan. But he ensuring me for that return by verbally statement.

Very very Thanks to https://www.consumercomplaints.in With the help of this portal complaint forwarded to concerning officer and he realize his mistake and Decided that he will take care in future for misscommunication. and no other person will be suffered.

Once again thanks...