[Resolved] SBI Life Insurance — poor service and fraud

Sumit Maheshka

from Mumbai, Maharashtra

Address:	New Delhi, Delhi, 122001
Website:	sbilife.co.in

I take a policy of sbi life. I was told a 70 perc guaranteed return in 7 years but after 1 year i came to know it was fake. They give a bonus of 4 perc which is vested. On total investment of 3.5 lakh for 7 year i will be getting a max of 3.8
When i am asking for withdrawal after 5 year they are deducting 30 percent
Being a risk free policy they have no right to deduct after the locking period
This is a big fraudulous company just to loot the customers

Their customer service is more bad you will never get a proper response from them they don't have any escalation matrix so you cant do anything

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Nov 11, 2018

Complaint marked as Resolved

State Bank of India [SBI] customer support has been notified about the posted complaint.

Verified Support

Oct 09, 2018

State Bank of India [SBI] Customer Care's response Dear Sumit,

We tried calling you multiple times on the recorded mobile number ending with 1497 however, we were unable to connect with you. Please provide us with your alternate contact details along with the best time to call you so that we address your concern.

Thanks & Regards,
SBI Life Insurance - Customer Care