[Resolved]  HDFC Bank — cancellation of policy due to mis selling by your staff

Sub :- Cancellation of my Policy/Document no.[protected] Premium Rs.1 lks, HDFCSL Young star- Super premium due to mis-selling by your staff, Regd, . Dear Sir, I am an defence personal & having an rank of an Major in the Indian Army presently posted in North East of India having my family based in Hyderabad. On one of my visits in the month of July 2014, I happened to come to your above cited bank’s branch, to make an Fixed deposit on my son’s name. I was immediately approached by your staff & was lured into guaranteed returns investment plans (fetching more monies than an Fixed deposit), as discussed & projected by your staff and my signatures were taken on your blank application forms. I was assured by your staff that the yields from this investment would be guaranteed and would fetch me much more yields (15% p.a. minimum) than an bank F.D. and that no investment would be made in the stock market what so ever. I was not even told the product name nor the details of the product & I believed your staff, based on their verbal commitments & assurances. Your above cited policy/Document was handed over to my wife in my absence, without any explanation, some time back, as I was away from home due to my service requirement of Armed Forces, as cited above. On my return yesterday, I have had a detailed look at your above cited Policy & am shocked to note the contents of the same. To my utter surprise, your office staff have given me an Unit Linked Investment Plan which does not guarantee me 15% annual yields, as committed by your personal. I have not been told of any charges, what so ever, towards the ULIP policy. Instead the risk is of the total investment, is totally bourne by me as per your policy document. More so, I am an border line diabetic since the last two years & you have filled in my blank signed forms, as if I do not have the same. Hence, as I was totally misled at the time of signing the forms by your staff at your branch, I hereby want you to cancel the above cited policy immediately & request you to refund me the entire amount without any deductions, what so ever. Please do the same immediately, within the next 3 days, so that I do not have to escalate the issue to your Managing Director & other consumer forums. I feel deeply hurt & cheated by HDFC Bank. Please remit the amount of Rs. 1 lakh to my savings account no.[protected], immediately & oblige. Thanking you, Your's faithfully, Major Ananth Babu. CH, Address: F#401, Ujwala Apartments Thirumalgiri x roads, Secunderabad-15 Mobile No.:[protected] Email address:[protected]@rediffmail.com C.c. to : I.R.D.A, Hyderabad.