Ing Vysya Bank — Misselling of FD

Address:

560003

Dear Team,

I Have spent 50 K with ING for Tax Saving FD ( A/C No[protected]. Bank executive has come to our office for tax saving purpose & suggested that FD is one of safest investment with certain returns. He told that if I invest 50000 then after 5 years maturity amount will be 77077 @ 8.75 % interest rate compounded quarterly. But after 5 years when I go to bank for maturity amount thay say maturity amount is 71551. After speaking to phone banking executive they say since interest rate is 5 %. I have hard copy of FD as per which 8.75 % interest rate compounded quarterly. One of ING staff has said that his employees are loosing job after merger that’s why they are not interested in such matters.
Now I don’t know what to do ?? This is first time I am seeing miselling on FD, which is known as safest bet to invest. I have FD with other bank, but I have not seen any such kind of miselling, ignorance & disrespect from any other bank. Look like ING Staff has totally lost its interest to work with bank after merger. What customer will do in such case ???

For small purpose bank charge customer penalty.Iam going to bank & calling bank for this issue & I have spent more than Rs 5000/-, Doesn’t bank has to pay penalty for this . This is not only case of miselling, harassment, disobedience & rejecting, that too for FD which is safest investment.

On date 29.01.2016 Mr Uppalapati Srinivas has sent mail to Shruti Srivastava for this query, but both are not bothered to take any action & asked me to log a complaint online. Please listen all recording for the complaint no[protected] & see how much helpless is bank branch & phone banker.

I request to penalize bank with fine of good amount to customer harassment. This is FD, where no such issue should come, & they are dragging too far.

Thanks & Regards
Somendra Gupta
[protected]