Aug 25, 2007 06:16 PM
3642 Views
I was coaxed into opening a citigold account I was promised wealth management and investments in mutual funds and plans etc but after opening the account all I could see was two citibank executives fighting like cats and dogs to get my investments done through them as I figured later it was all about huge commissions .
No one saw me after my initial investment in a ULIP plan for any further investment in Mutual funds I was literally compelled to park nearly two lakhs in savings @ 2.4 % interest for three months to prevent them from penalising me for not keeping minimum balance of one lakh each in my two accounts for me and my wife.
They could not follow up on basics like health check up FMR to make my policy operational and eventually it lapsed . My tax planning for the year march 07 had gone totally haywire thanks to sloppy fund management by citibank .complaint letters to khar branch and to Mr santhanam did not get me replies for 3 months and I am still waiting .
I had asked for closure of accounts and after two months of sending letter to them by speed post they do not have decency to reply and let me know if my account has indeed been closed or whether they r still penalising me for not maintaining 1 lakh in my savings @ 2.4 % till eternity .I am disgusted and feel our government should put a ban on such banks .
