Saturday, 18 August 2012

[www.keralites.net] Mutual Fund Cheating

 

Mutual Fund Cheating


I had invested Rs.50000/- as a single time premium in SBI Mutual Fund on 24-07-2007. It is a 5 year scheme and my policy has matured on 24-07-2012 and I  submitted my documents at the SBI Insurance Co's Thrissur Branch. No action has not yet come out so far. When contacted the SBI office to track the status of my Policy over telephone I get different answers on different occasions . When I enquired the status of my policy , through the help of an Insurance Agent, at the SBI office, my 5 year policy has GROWN up to Rs.42000 plus after 5 years. This is how reputed Banks like Sate Bank of India - Government Owned - cheat the customers. The agent (who has now quit SBI agency) had promised me at the time of joining the scheme that my Money will double in 3 years!

Nandakumar

www.keralites.net

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