HDFC Bank — sampoorna loss plan from hdfc

Address:

Hyderabad, Telangana, 500058

I haven't expected hdfc life would sell such plans saying profitable plans. It is very pathetic that they have encouraged their agents to give such false information to the customers to only get cheated at the policy maturity. The only answer i got looking at the low sum assured in the document initially was that i will get 10-14% returns as bonuses added to the maturity claim amount and not to worry on it.

I have paid in total of rs 2, 47, 865/- towards policy premiums (Policy no:[protected] for 5 years and the amount deposited towards maturity claim is rs 2, 44, 941/-.

I was unable to understand how i can be at a lose of rs 3, 000/- with out adding any benefit/interest to the amount i paid towards premium with this policy all these 5 years unlike the projected 10-14% returns.

I got an email reply showing rs 3000/- loss as the tds deducted. I am still not able to figure out how can tds be deducted for the amount paid as premium with out any returns/interest added.

How would hdfc life justify this policy as "sampoorna samruddhi". Is it by making people wait for 5 years only to see not even the amount they paid is returned? Very unhappy to know hdfc is doing such scams.