[Resolved]  HDFC Bank — wrong commitment by hslic and debited my saving account without informing me

In around march 2018, i had got a call from hslic for a saving plan, the executive had described me complete plan and i had shown my interest into that and i had told him that i want to purchase this but let me know the payment terms. He has told me you can buy this by annual premium or by monthly premium, and this will be deducted from your credit card for the first year and from the second year you can change the payment medium. I have requested him for the monthly premium as i am not able to pay rs. 25000 in one time, so he has told me that i will be charged around rs. 2200/month from my credit card as the monthly premium. With this assurance i have purchased the policy, he has asked me for my aadhar card on whatsapp that i have provided and he has issued the policy on my name after some general inquiry (Like nominee name, address, age etc.) after 2 or 3 days i got a message from hdfc credit card that rs. 25000 has been deducted from my credit card and this cannot be converted into the emis.

After getting this message i have contacted to hdfc credit card first and state that i am not able to pay rs. 25000 in a single bill that is why i have purchased the policy on emi. They have told me that they can not do anything in this and i should consult about this with hslic. Then i have contacted to hslic and told them the same thing, here i got the very weird answer they told me that we can not do in this anything please contact to hdfc credit card department. And then after i have contacted both departments around 4-5 times in a week but did not get any resolution on this, after all this i have contacted to the person who has sold me this policy his name is kapil (Mob. No. +91 [protected]) and describes him all the situation. He has told me that "today is saturday and bank will open by monday then your amount will be converted to emi and in case the amount does not convert into the emi just inform me and i will let you know one email you can mail them and then they will convert this into the emi”. After this communication my amount has not been converted into the emi as well as he has stopped picking up my call, it’s around two months and he never picked my call again.

After all this i have dropped the complaint on the hdfc portal, mail to hdfc credit card, mail to hslic department, did not get anything from anywhere. Then i have got a response from"priorityredressal. [protected]@hdfcbank.com” (Senior management), i think now my problem will be resolved. But no, in every mail they asked me 2 days then 5 days then 10 days for the resolution and by this, they have taken a complete month and then reverted this;

"we note that you have certain clarification regarding the transaction of rs. 25, 080.00 towards m/s. Hslic premium incurred on your card account on march 26, 2018. We take this opportunity to inform you that the emi offers on card account like smart emi, insta loan, balance transfer facility, etc., will be available on the card account from time to time. Further, the said offer is not a standard product offering and we note that the same is currently not available on your credit card account. On receipt of your e-mail, we have taken a detailed review to convert your credit card dues into emi facility. However, we regret to inform you that, we are unable to accede to your request currently."

I was really surprised with this, i got the response after around one and half month of back and forth and the reply is same that i am listing since last one month from phone banking executive. Mr.

Pramod nair manager – correspondence (Chairman & md cell) was taking care of this mail and reverted me this. I have again reverted on this mail that if nothing can happen then please cancel my policy as i am not able to pay this amount. A new reference number has been generated for my reply and i got this on 8th jun 2018;

"basis your recent query, we have taken up the query for cancellation of insurance policy. We assure you that the queries raised by you are being looked on top priority and the bank shall take utmost efforts to ensure an early resolution. Hence, we still require 10 more business days to provide our detailed response. We request you to bear with us and thank you for your co-operation in this regard.

Please feel free to write to us at priorityredressal. [protected]@hdfcbank.com for any further clarification or assistance that you may require.

Kindly note the query reference number for this correspondence is [protected]."

Again asked for 10 more business day, i was again waiting for the response but yesterday i got an email from hslic on my gmail account (Anshul. [protected]@gmail.com);

"we refer to your concern raised against your policy.
We have conducted a detailed investigation of the facts presented by you and found the following:
The policy was issued post the documents and consent received from you in order to issue the policy.
As we have not received your cancellation request within the free look period, we wish to inform you that we are unable to process a refund of premium paid against your policy. The provision is also mentioned under ‘option to return/withdraw’/’cancellation in the free look period’ section of your policy document.
We have concluded that all the features and details of this plan were explained to you at the time of purchasing the policy.
After due consideration of the above facts, please be assured that this case does not constitute a missale."

Then i realize that they just wasting my time, and now i cannot do anything.

After all this on 22nd i got the revert from mr. Pramod nair (Priorityredressal. [protected]@hdfcbank.com) and state that

"however, as a special service gesture, we are accepting your request for cancellation of the said policy and have referred the matter to hdfc life insurance company for further processing.

For any further assistance request you to write to [protected]@hdfclife.com or contact them on helpline number[protected]Monday-saturday; 10 am to 7 pm. Local charges apply.) request you not to prefix any country code e. G. +91 or 00

We are disappointed to understand that you are contemplating to discontinue your credit card relationship with us. Your relationship is important to us and we request you to reconsider your decision of closing the card account giving us an opportunity to be of continuous service to you."

Then i felt that this would be solved now, but suddenly my saving account has been debited with the complete outstanding amount of credit card yesterday and shows the balance rs. -7000 something and because of this one of my loan emi has been bounced yesterday now one more emi will be reflected on my account tomorrow that will also be bounced due to this.

I am not getting what should i do now. I have also droped the mail with all these to "chairperson. [protected]@hdfcbank.com", "kbharucha. [protected]@hdfcbank.com", "mpatel. [protected]@hdfcbank.com", "kmistry. [protected]@hdfcbank.com" on 19th and 20th june 2018 but did not get any response on my mail.