Apr 05, 2011 03:26 PM
3777 Views
I was transferred to Bangalore in 2005. I opened a bank account with Kotak because they seemed to have convenient services to offer.
I had liquified some of my savings and put it in the account. I had a new experience in life - the Kotak managers wanted to meet me. On a day I was free, I agreed to meet them, little knowing what was in store. I was also too busy those days with an initial transfer. They came and offered me something called equity based Kotak life insurance promising me huge returns within 3 years and the facility of withdrawing my funds after 3 premiums.
The nitty gritties like 1, 00, 000/- of your savings would be in their pockets in just 3 years, that they would dig into your principal as well as profits, plus charge you hefty fees for doing nothing, that they would take away 3% of your money (principal+ profit) if you withdrew after 3 years, you were left to discover through hard experience. They were much later blacklisted by SEBI for these very practices.
I just want to inform people, especially the people of Bangalore, to be wary of these white collared thugs. Never ever trust anyone from Kotak Bank or trust a paisa with them. They only want to make you lose it - all their personnel are trained only for this.
They will give you persistent calls to succeed in their ploy. Even if they recommend investment in a business house, you should make your own researches. They will only
recommend those who give them huge commissions to mislead people. Totally without a conscience or ethics - that is how to sum up the Kotak policies. Their personnel are trained to tell you convincing lies to get their hefty salaries. Just be careful! Your money is yours, not theirs!
