Originally Posted by mmisran

Dear Sir,

I am having an HDFC credit card. One day I got a marketing call from HDFC for a HDFC Crest Insurance policy. The agent told me that the total annual premium would be 50,000 that I need to pay only in 12 EMIs and there wont be any interest. On inquiring he clarified that since both the credit card and HDFC life belong to the same group so they have an arrangement with the Credit card company and the whole premium will be taken by the HDFC Life from my credit card and I will have to repay the same in 12 EMI on zero interest.He also promised that I have to pay the premium for 5 years and every year the same EMI option will be given to me.

Looks great. I took the policy and they withdrew Rs 50,000/- from my credit card. To my surprise, I got a monthly bill from Credit card company for the full amount. When inquired from them, I was told that I will get a confirmation call to convert it into monthly EMI at 0%. Next day I got a call & the guy said that this facility is only for 1st yr. When I confronted, he said you talk to HDFC life. When I called them they said we assure you that next year also the same facility will be offered to you. This time I asked them to give this thing in writing. They simply refused to give the same in writing and said they can only give a verbal assurance. I didnt accept that and asked them to cancel my policy.

Now I am struggling hard to get my policy cancelled. They r not cancelling it saying that the 30 days lock-in period is over. I am not financially sound enough to pay the 50,000 in one go. I am forced to pay the heavy interest every month on my credit card bill because I am unable to pay this huge outstanding.

These HDFC people has done a criminal act and they should be literally punished. Rich persons can take them to court of law and fight with them. Where will I go and get the justice.

I have visited different offices of HDFC Bank, HDFC Credit Card, HDFC Life etc but no hearing so far. have no clue what to do?

Please suggest me the remedy.

Dear customer,

We understand your concerns. However, we require a few additional details to look into your complaint. We request you to write to talktous@hdfcbank.com with your credit card details and details of the policy and the reference number TTU000347926072011. We will respond once we receive this information.

Regards, Customer Assistance, HDFC Bank