Edelweiss Financial Services Complaints & Reviews

1. Multiple issues, the account was opened as free, i.e; without any maintenance charges as a part of bulk opening in Company for ESOPs holdings. After 3 yrs, they charged Rs. 590/- each in Nov'19 & Nov'20 wrongfully. Raised service requests, spoke to multiple executives, wrote mail to provide proof of schedule of charges accepted by me, however no response.
2. In Dec'19 did some trade and sold some ESOPs, the money should have been transferred in Dec'19 to my account as per SEBIs Circular(MIRSD/SE/Cir-19/2009), however they retained the amount until March 2nd, 2020. I also tried to transfer online, however their system rejected request without any reason. As such need interest @24% p.a, as they also charge from their customer.
3. I paid a subsciption amount of Rs30, 000/- and have money remaining which I need refund as I donot wish to continue with them due to service issues, and they are not giving my money back.
Highly unreliable, deficient in service and do not even care to call back, respond to the mails written.

Hi,

Please note my ULIP policy details which after I am unable to trace or encash it after its maturity. Edelweiss customer care is unable to help me to trace my policy.

Policy Number[protected]E

Plan Name - Edelweiss Tokio Life Wealth Accumulation (Accelerated cover)

Risk Commencement Date - 14-Jan-2016

Maturity Date - 14 Jan 2021

Fund Name - Equity Top 250 Fund (ULIF0027/07/11EQTOP250147)

Fund Name (SFIN) - Discontinuance Fund (ULIF00701/01/12DISCONT147).

Details on my policy - I have discontinued the policy after one year due to high service charges by edelweiss and asked them to refund my amount pid so far in 2017 but i was told that due to it’s lock-in of 5 years, i will get the amount with interest on its maturity date by 2021. On Nov, 2020 i got the call from Edelweiss asking if i want to renew/continue my policy, I asked them i want to encash it on its maturity 14 Jan 2021. They suggested me to contact after this date.

However, now when I contacted the edelweiss customer care, they are not helping me to encash my policy, saying they are unable to fetch my policy details. It’s a fraud by edelweiss! If they can call me 2 months before to ask for renewal but if i opt for not to renew the policy, than they are doing fraud by not allowing me to encash my ULIP policy.

Requesting the concerned team to please help me to encash my money stuck with this waste policy for more then 5 years now. I have my full right to encash the policy after its maturity.

Thanks and Regards,
ARPPIT GUPPTA

Dear Team,

This really very strange and amazing that I have been paying my EMI ontime and despite this I have been told my loan will be cancelled ???

Infact now this means your team is giving me "THREAT'S" so let me reiterate you that till today I have not got any official sanction letter from Edelweiss, Neither any Sanction Letter has been signed by me and above all I was promised that "NO INSURANCE WILL BE CHARGED" and ROI will be around 10. As my work is more involved in traveling so didn't had time to go thru the mail's But now since Mr Himanshu Vij mobile no [protected] and Mr PK Vij Mobile no [protected] are threating me that my Loan will be cancelled.

So I read through the mail received and saw that I have been charged RO above 12% and Charged for Insurance also so complaint them so they are saying do whatever you wish to do.

So now I want to complaint against both Mr Himanshu Vij and Mr PK Vij for False Promises Commitment and Signature forged on documents as it was NEVER signed by me for which I can challenge in the Forensic for its verification.

Now I TELL YOU TO CANCEL MY LOAN AND RETURN MY EMI DEBITED TILL DATE IN 15 DAYS FROM THE RECIPIENT OF THIS MAIL AND FURTHER NO EMI TO BE DEBITED IN MY AC.

IF NO ACTION IS TAKEN I WILL BE LIABLE TO APPROACH THE BANK OMBUDSMAN AND LEGAL AUTHORITIES FOR FURTHER COURSE OF ACTION.

Thanks & Regard
Darshan Lohiya

This is to bring to your notice that i have a active home loan from Edelweiss Financial Services account no.LMULA[protected] from last 5 years.

From last 2 months I have been continuously writing & mailing for the Forclosure of my account, but till date i have not received any confirmation from them. Its really embarrassing that they are purposely not answering.

I contacted Edelweiss Securities/Broking Ltd in July2020 for an investment plan for NCD bonds and deposited 3Laks in their account. But I ended up getting defrauded by Edelweiss frauds well planned by them. I can submit all proofs when required like the one attached.

Edelweiss is being accused of:

1. Defrauded me on availability of stocks (I deposited funds only when edelweiss confirmed availability. But it wont take 2 months to confirm as no-stock again and till then keeping my funds in their account simply)

2. Non-transfer of shares to me (as their intention was to keep my funds with them for 2 months and not investing)

3. Non-receipt of my refund in acceptable time upon no-stock (no correspondence whatsoever in those 2 months and upon no-stock they havent immediately refunded my funds either)

4. Loss of my own income/interest (edelweiss silently kept my transferred fund for 2 months for nothing but they are actually earning interest on their side in their account over my deposited funds and I could have invested somewhere else in that time)

5. Wrong intentions of conducting transactions(no regulated financial firm should keep unaccounted money in their account for 2 months)

6. Negligence of grievance redressal and no accountability of investors loss (it has been 2 months follow up by me and approx. one more month by you also. and unnecessarily made me to contact all their support/management levels even to get my own refund)

7. Falsified responses to SEBI (as if no-stock is the reason and as if they in contact with me to compensate my loss etc but it is all fabrication)

I received a call regarding switching my existing life insurance policy from hdfc life to your company as i was not satisfied with that policy.
After getting all the details confirmed from the executive i made the payment with below mentioned utr number on 25 august.
Later on after payment confirmation i come to know that the executive was misleading me regarding switching my policy. Instead he provided me a fresh policy about which i wasn't aware nor i want any kind of new policy. Details for the policy are mentioned below.
Kindly refund the paid amount as soon as possible and further look into this matter and investigate my case.
Thanking you
Tushar goyal
Policy no[protected]e
Utr number-shdf[protected]
Mobile-[protected]

As per govt of india ecl policy. We are eligible for a 20% loan on our outstanding loan amount. Mr. Hazik from ecl called us and confirmed the same also. We are completely eligible for the said loan. Now they are demanding that i pay one emi and then only they will disburse the amount.

As per the policy we should not have any dues with the lender as on 29th february 2020. We didnt have any outstanding. They are unnecessary not passing on the government benefit for the msme

Why is “edelweiss finance” not following rbi guidelines :-
Date 15th july 2020

I have even opted for moratorium approx. 2 months before only. But then too why your bully guys keep calling from different numbers and keep abusing me. Mr ravsaheb anuse abused me today in afternoon 12:00 pm and 12:15 pm. He had also threatened me yesterday at same time. The contact numbers he used were “[protected]” and “[protected]”.

After i raised my concern on email, with “vishal. [protected]@edelweissfin.com” keeping in “cc” to “ravsaheb. [protected]@edelweissfin.com”, i got a call from sr. Person “mr vishal”[protected] who told me to pay the emi. After i explained him the detail that i have opted for moratorium, which i had explained on email as well, he told that you have to pay one emi as we don’t have money and alongwith that also have pressure. He said that, i can give you offer of "20% - emergency-credit-line-guarantee-scheme". Now they are offering me new scheme which is already given by most of the banks and nbfc to their customers. And in reference to moratorium he told, its just till august month till which rbi has said, after that you’ll have to pay, so better pay now. He said, we’ll send you an email with details of how to move further.

As i denied for the new offer, which is quite obvious noone will go with such financial provider who will talk as if they are doing favor to their customer.

And the matter did’nt stop here, within 20 minutes someone ("pratik waghela [protected]") knocked the door of my residence. He told, i have came from bank for emi collection. I rejected him for any payment and explained that i already spoke to mr vishal. He told that vishal sir’ is not picking phone and mr. Anuse is telling him to collect money from me and don’t move from my residence door until don’t collect money, after explaining a lot to mr pratik that please leave from here, he left quietly but after 15 minutes i saw him standing on my society gate with his scooter and telling from there that pay the money.

It's exactly like “bhaigiri” has been started by edelweiss. They take all post dated cheque for each month but now they are not depositing it, as they know that they will be in big trouble since rbi has set rules in lockdown for moratorium.
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10. Emi recovery in lockdown by edelweiss finance group, from innocent client by abusing on phone calls

Dear sir

Last many days to connect edelweiss customer care no but all time customer executive busy at the call no any proper response company website available get call back option 10 times request series but no any revert from your site baroda in office close edelweiss finance how type connect edelweiss no any department right guidelines my emi every month cut 12464 this month emi cut 16464 why no any response no any reason i inform u i am tottaly arritet final complain submitted my site i am waiting 24 hours edelweiss call then after legal complain rbi.

Thanks regards
Harsh shah
M-[protected]
M-[protected]

Dear Sir, due to Covid 19 our business is totally closed and hence no business receipts. In this economic crisis we have difficulties in meeting your daily emis. So please tell your office that I cannot further pay till the situation of Covid 19
Is resolved and markets open to regular functioning.
From
VINNI COLLECTION

I have applied for a personal loan in bangalore. One our your executive came and collected the documents at office, after which i'm trying to get in touch with the executive who came for the docs collection and her respective reporting person name "anubhuti" to get an update from almost a month. However, there is no proper response either they say will check and get back or they'll not answer the call.. My cibil got impacted because of this # process.. It's better to close your service if you are not able give a proper service to the customers

My loan account num is - lpuneca[protected]. I foreclosed my loan on 3rd december. Mr rahul mane and pravin mane from pune provided me with bank details and i paid 130000 for foreclosure as per the letter they provided. Since 3 months i am following up with them and visited the office but my loan is not closed and emi are hitting my account. I m fed up now and will escalate to rbi if not resolved soon

Written complaint had been filed now 2 days back... Kindly take necessary action else i will sue both kushal borana and edelweiss jodhpur for fraud and looting and cheating people...

Have all cheques and written letters and one phone against which he took money and kept me waiting such long...

Consider this as my final complaint next time i will lodge complaint against company with employee for running dabba trading and looting money by fooling people using edelweiss office..

Dear team

The entire day manoj from recovery team was calling back to back for my emi due
Which I have cleared today itself
But again and again he calling me and texting me to come to office
Till 9.47 he was going on texting in wats up
He said that you can complain to our zonal head manjunath also

Because he only told to do recovery at late evening

My question is that banker to follow the recovery standard

This manoj and manjunath has Crossed the time line

Even after I called Mr manjunath
Manoj was going on texting and harassing me to call back or come to office at 9.47

Zh does not had a Curtursey to call back and tell that he will stop texting

I was driving to home and this guy was going on texting
Because of him I was not able to drive and I met a accident

Tomorrow I will also log a police complaint in bangalore shanthi nagar

I need a proper explanation on this within tomorrow rod or this has to be escalated further

Rajan

I had given my physical shares in m/s edelweiss at canaught place branch new delhi against my demat account no. Ex740843 in the month of june-2019. The total cost of all shares certificates is approximately 600000/- (Six lakhs). But till date my shares are not demilitarized and no reply was received from m/s edelweiss for any reason. I have the receiving of physical shares certificates and the executive which was assigned to me is now not responding to me from last 2-3 months. Even i had discussed the matter with other executives in the branch but they are still unable to give any reply.
I have a doubt that some fraud was done with me and now company is hiding details for my knowledge.

One of edelweiss employee in Jodhpur, sabu tower branch named Kushal Borana is know to me via a common frd.. He took money from me as loan and I have all documents and signed papers and cheques of kushal Borana.. He is playing in the office using edelweiss facilities and also not paying my money which I had given him as a loan..
Kindly took necessary action and make him pay my money back to be.. Document supporting all can be provided if required..

Rgds
Mudit
[protected]
Call me for any details required or recording etc..

Also help me to realise my money asap

I opened nre trading account as one of the ex icici advisor purushotam naik joined edelweiss. This advisor offered low brokerage and i moved my holdings from icici direct to edelweiss
Later i realized edelweiss didn't opened pis account and just linked my icici nre account to edelweiss trading account.
In between, edelweiss platform was not supportive for nre as the same was mentioned by new edelweiss advisor. I raised this pis account issues and this advisor mentioned that edelweiss lacks nre support and was meant to be for local residents. My efforts to open pis account remain unresolved as i wrote many emails, where edelweiss couldn't respond. Point to be noted, edelweiss platform didn't had capability to handle overseas number.
Eventually i decided to quit edelweiss trading. I have signed all closure documents and shared cml to transfer. They are holding my 2.8 lacs which is in trading account. I am told cheque is deposited and this has been story where i don't see end.
They haven't transferred my holding

I have provided all the documents to their executive, till now the account has not activated nor the confirmation from the company.

Request to look into the below provided nos stating that they are employees of edelweiss share broking and collected various important documents from me. I have fear that they might misuse my signed documents for any unethical activities.

Contact nos: [protected] & [protected]

Please note we have investment done in your company.
We have queries in principal amount. We are reach out your team for resolve from 6 months.

Problem has not been solved and we visited local office also. Very wiriest response from employee's and still problem going on and also we are not getting interest amount for investment properly.

After multiple followup we will get the interest amount.

So we need to draw entire amount from company.

I close my personal loan on last month 10 jun till time I submitted remaining amount hdfc bank dd but 15 jun automatically deducted my rcs throw my account then I send the mail on [protected]@edelweissfin.com he register my complaints nd give me ticket no RF816806 and tell me your complaints is resolved 2 3 working days but till date I am not receive my extra emi deducted amount he renew my complaint after 2 3 days
I think edelweiss financial services is used my amount almost 1 month and he is liable for pay the interest please help for resolving my issue as soon as possible