Joined: 15/Jun/2009
Location: India
Online Status: Offline
Posts: 4013
Posted: 21/Feb/2011 at 4:47pm
Originally posted by subu76
I think when ever someones sells you an instrument which is once in a life time opportunity then it's best to stay away
I had a call from SBI Life 2 weeks back. The scheme they suggested goes like this. I was supposed to pay Rs 50000 per year for three years. And on the first day of the fourth year I was supposed to get my 1.5 lacs plus guaranteed bonus of Rs 55000 from them. Plus the tax incentives that go with insurance policies.
In this context I had a call from someone from SBI Life in Delhi asking whether I was interested. He told me that they would give the above in writing. So I assented and as a follow up their local guy came to meet me and explain in further details. There was an added attraction of a free mobile phone if I confirmed with the local agent on first visit and gave him the cheque for first instalement of 50k. He came up with a flier explaining the money back policy and "explained" to me that the surrender value of the policy after three years plus the guaranteed bonus of Rs 55000 amounts to Rs 2.05 lacs. When I asked him whether the guaranteed bonus was on a tenure of three years as well(full policy was for ten years), he did not come up with any convincing answer and promised to come back to me with a full written document promising the full deal. Needless to say he has not turned up till date.
I was surprised that even SBI Life people were indulging in such phony promotions.
Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart.
He He....Nice one..recently someone was peddling me a land deal...saying how he'll be forced to raise the price next week as multiple buyers are knocking at his door.....I asked him to come back after 2 months...
Ever since he dutifully calls me every alternate weekend offering a special one time discount since I'm a "premium customer" (whatever that means)
Joined: 17/Apr/2010
Location: India
Online Status: Offline
Posts: 331
Posted: 21/Feb/2011 at 9:43pm
Local LIC agent of my native village who sold policies to almost half of village and well known face there, visited me during my recent visit. He explained their "special" wealth building "endowment" plan. I kept listening for some time.. then I asked to tell more about LIC Jivan Amulya Plan.. he shamelessly declared that LIC discontinued this plan long back.
After some more conversation, he got sense that this guy is not the right murga and no benefit of wasting more time here.
I find that the harder I work, the more luck I seem to have.
Joined: 04/May/2011
Location: India
Online Status: Offline
Posts: 1
Posted: 04/May/2011 at 1:37am
Kotak Mahindra Bank is a bank with the worst customer service. It takes them 4 MONTHS TO ISSUE RECEIPT OF ONE FIXED DEPOSIT . And id that is not enough to harass
you they provide the most pathetic excuses for not
providing it. To top it all the staff continues to play the blame game
and even the BRANCH MANAGER does not take the onus. My sincere request
to one and all please bank with any other private bank BUT KOTAK
MAHINDRA BANK. Even if they offer you 10 times the interest rate of
other Banks. Please DO NOT FALL FOR IT. You will waste your precious
time banking with such Dumb Asse.
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Posted: 04/May/2011 at 10:16am
Originally posted by Richa Seth
Kotak Mahindra Bank is a bank with the worst customer service. It takes them 4 MONTHS TO ISSUE RECEIPT OF ONE FIXED DEPOSIT . And id that is not enough to harass you they provide the most pathetic excuses for not providing it. To top it all the staff continues to play the blame game and even the BRANCH MANAGER does not take the onus. My sincere request to one and all please bank with any other private bank BUT KOTAK MAHINDRA BANK. Even if they offer you 10 times the interest rate of other Banks. Please DO NOT FALL FOR IT. You will waste your precious time banking with such Dumb Asse.
i understand your frustation but sometimes these are branch specific rather then Bank specific issues.
I recently opened an account (zero balance) with KMB and though I am yet to test their services I presume that Uday Kotak as a man would not let these inefficiencies get into the system.
Nevertheless do shoot an email to him also.
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phone if I confirmed with the local agent on first visit and gave him the cheque for first instalement of 50k. He came up with a flier explaining the money back policy and "explained" to me that the surrender value of the policy after three years plus the guaranteed bonus of Rs 55000 amounts to Rs 2.05 lacs. When I asked him whether the guaranteed bonus was on a tenure of three years as well(full policy was for ten years), he did not come up with any convincing answer and promised to come back to me with a full written document promising the full deal. Needless to say he has not turned up till date.
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