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27%
1.59 

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Forced me purchase demat a/c, credit card, insuran
Nov 19, 2014 11:12 PM 14199 Views

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They froze my 12 year old savings account as it was having more than average transactions and the reason there was Anti money laundering KYC


Also they forced me to purchase HDFC life insurance with monthly installment of Rs.2500, they literally visited my home and kept on sitting there until I purchase the life insurance, they kept on saying that we will get promotion for this


Then they forced me to buy a credit card, then whenever I called the customer care about any type of enquiry, they forced me to increase the credit cards limit, this is because in this way I can get bigger cash-on-credit-card loan, and then they gave me a loan of 1 Lac Rs. and said that the interest will be only 11%, but after completing all of the 24 EMI and clearing off the loan, the amount was 117000 that I paid, so it means that I paid 16000 Rs, as 17% interest loan


Then more surpise for me, as they forced me to open share trading demat account in HDFC Securities brokerage, they said that the account is free for first year, while they deducted Rs. 551, every time I asked them  about this, they said that the amount will be refunded if you go to branch, then I went to branch to hear that it will be done in the bank, then I went to bank to hear that it will be done in customer care, then I called customer care and they said that it will be done after the demat account is closed.


Adding to this, they have bank in one location, the credit card department in another location and the brokerage department of HDFC securities in third location, and the customer is sent from one to second to third location all the time.


Also, they do not see if your number is in do not disturb registry or not and image what I had to suffer to pay for all of these policy and demat and credit card installments with having the savings account as frozen.I hope someone reads this and learn from this.If banks start behaving this way, then I think they should be banned by RBI. Very very cheap behaviour.


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