Indusind — very high risk of investments with indusind bank

Address:

144001

Indusind bank is unique. They don't care for high-value customers.

* treat this complaint/experience as a warning and never invest with them or you're up for a painful experience and may lead to grave losses. *

My relation with bank -

I invested to near about 1 crore in their fixed deposit instrument looking at the attractive interest rates they were offering. Along with that, i had to open a savings bank account with them. I was planning to invest another 3 crores with them.

Issue 1 -

Delayed account opening.

Account opening was delayed much beyond promised timelines and bank executives/acting manager didn't care. They made several false promises. The issue was escalated to the highest level of grevience, who took another 5 days to respond and act. Even then bank manager or relationship manager didn't care and confessed that they messed-up with details entry in system and now its stuck midway. Finally, after a lot of struggle, it was opened and the escalation team assured me such careless instances wouldn't repeat.
Throughout they didn't care that i'm bringing in high-value investment to the bank. Support offered was extremely terrible.

Issue 2 -
Fd documents misplaced.

I never received certificates for all my fds. There were multiple couriers sent to me.
First one was recived open, documents had been taken out and missing. I escalted but no one to the highest level of escalation cared to find them or took responsibility.

Another courier marked as delivered was a false status, i contacted the manager, relationship manager, all the escalation points but i was asked to figure it out with courier service on my own. Running out of options i had to, the delivery guy confessed that the forged my signatures and dropped the packet somewhere in the society which i never found.

At this point, no one in indusind bank escalation team or management or leadership team cared about signature forgery & missing documents.

Relationship manager doesn't even respond to calls, it takes 10-15 calls to even get to speak to her. Finally, she said she checked with the courier and i should forget everything and she will issue me a duplicate certificate for which i need to go to the bank and collect it or forget about it in total.

No one, from any department or position, cared to take any ownership or responsibility of missing documents. To them its no issue if courier does this and its customer's responsibility.

Issue 3 -

No manager at the bank branch.

This branch has an acting manager - - he is very sorted. Says - i don't care about any of your issues and you can go complaint anywhere it doesn't affect me. For anything you can talk to your relationship manager, don't call me.

Relationship manager - sheetal - she is a kid who's just killing time at this job, refuses to take calls, has no or silly responses whenever she gives us the privilege of answering the phone. She has no clue how things work, what is serious and above all, she doesn't care whatever happens.

Issue 4 -

Deaf escalation points

No matter how serious your issues is, how urgent it may be, they will respond only after 72 business hours. When they do a junior support guy will call, with no context and no study on the issue he will ask you to repeat entire ordeal. Then promise to get back, vanish for 2 weeks and never have any resolution.

I had contacted some branch managers in delhi area who refused to be of any help. And pointed me to all the email ids i had already escalated to.

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*i'm moving my funds to another bank. Based on my repeated painful experiences and the risk i run with them i would suggest everyone to not take this risk unless you want to waste your funds. *

Escalated to banking ombudsman, they will take 3-6 months to even respond on it. However, by then i would have moved my investments to another bank and i'm sure it won't make any difference.

If these guys don't care about high-value customers, be assured they won't care about you.

And if you're a high value customer then you're running an extreme level of risk.

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For indusindbank - to locate who i am - a senior citizen with joint account and sheetal as relationship manager. Visit the issues listed above, she will instantly tell you who i am.

But that is if you care, which you don't!