Details – Policy # 18710767 policy name – “IPRU Elite Life II” I recently visited T.Nagar chennai ICICI branch. I was fooled / cheated / misled by the Assistant Branch Manager – Mr. Balaraman. A., while submitted the form 15 for Tax, he gave me an option that I could transfer my money that is in Fixed Deposit and Deposit it in another Fixed Deposit, that would fetch me 10% interest / annum and I don’t have to worry about submitting tax forms every year. The questions that I asked was that my principal should be very safe, I am not much interested in 10% interest and that all I care about is my principal which should be safe. And he assured and reassured me of that, he took advantage that I was in a hurry, made a call right then and asked me to confirm with an “Yes” for me to deposit in the Fixed Deposit and that he would take care of the rest, he also got a signature in an unfilled up form to get the money transferred.

After days, I see an email from them in my box with a welcome kit and when I open it, to my surprise, I see all the charges and my 2 Lakhs already had come down to 190000 because of all the charges. I was shocked and feel like a fool, I called immediately and spoke to Mr. Balaraman. A., and asked him that he mentioned it is Fixed Deposit, 10% interest and no tax – and he confirms yes, yes and yes and just asks me to wait for 6 more months to see the returns. Now, I am an anti-stock and share person and just want to have my hard-earned money intact, never would settle for anything like this, this was clearly a misguidance, cheating and thugging of the customers, My brother has been following it up but just as the review says, there is no use, they keep putting you away, by asking you to come later, that they would contact head office and all different excused, but noone clearly mentions a way out -telling the procedure to surrender and cancel the policy. They just make you go round and round till you are all tired and work out and just want to give up. I am reviewing so many blogs and there are people who are cheated on similar grounds from ICICI and HDFC, how is it possible that no action is taken against them and they keep looting people’s money, how long will this sustain, how can they progress like this by looting people. Can someone on behalf of God help all of us who are impacted by this fraudulent activity. Please help in getting this policy cancelled and refunded.

Regards
smoolchand@albridge.