Retired Government Employee Duped of Rs.30 Lakhs | SBI Bank and SBI Life must Answer | SBI Scam

In case you have a similar issue please feel free to contact us at: Nitin Balchandani Insurance Angels +91-9587777650 Email: [email protected] Follow us on: Twitter: twitter.com/insuranceangel Website: insuranceangels.in/ Case Description: Mr. Patel retired from Polytechnic College Bhavnagar, Gujarat, and an amount of Rs. 55 lakhs were credited in July 2022 to his SBI Bank Account as retirement benefits. He decided to invest this sum of money in a fixed deposit since he knew it will be needed for his 27-year-old son's higher education abroad. He told SBI Bank personnel of his ideas, but it appears that SBI workers prioritized meeting their policy sale targets over clear and unequivocal instructions from their customer. Mr. Patel's preference for liquidity in his invested amount was disregarded, despite clear instructions, and his money was instead invested in the SBI Life- Smart Annuity Plus plan in August 2022. This investment was made against Mr. Patel's wishes and without necessity. It did not align with his needs and requirements, and it appears to have been driven by the personal interests of SBI Life and SBI Bank employees, disregarding Mr. Patel's explicit directions. Furthermore, this investment has hindered Mr. Patel's ability to utilize the funds for his son's further education, which was his original intention. The misrepresentation has trapped his assets in a policy that imposes exorbitant surrender fees, which were not disclosed to him at the time of investment. It is evident that the employees of SBI Life and SBI Bank were aware of his status as a retired government employee receiving a monthly pension payment exceeding Rs. 85,000.00. This clearly demonstrates that the annuity plan was improperly sold, as Mr. Patel already receives a substantial pension and does not require additional pension from any other source. Mr. Patel only discovered the true nature of this investment when he visited the bank to withdraw the funds for his son's admission to Algoma University's graduate certificate program in project management at the Brampton Campus in Ontario, Canada. Unfortunately, he was unable to access his invested amount due to the mis-sold policy's restrictions on withdrawals and the undisclosed surrender fees. Consequently, despite having sufficient funds available, he was compelled to avail education loan for an amount of Rs. 20 Lakhs at a higher rate of interest @10% Per Annum from HDFC Credila. Loan Sanction Letter and proof of his admission to Algoma University are provided in video for reference. This situation arose due to his trust in SBI employees, who were primarily focused on meeting their own sales targets and failed to consider his needs and requirements. To fully comprehend the extent of the fraud and appreciate the challenges Mr. Patel has endured, please watch the video. Watch the video to learn how corporations such as SBI Bank and SBI Life use their infrastructure to manipulate things and defraud their customers. We've explained everything using the documents. We sincerely hope that Mr. Patel receives justice and is not compelled to make higher interest loan payments in his late 50s when he has enough of money available but is unable to access it due to the greed of SBI employees. Remember to subscribe to the channel and share our videos with your family and friends. I hope you find the video informative, educational, and useful. #sbiscam #sbilifescam #insurancescam #lifeinsurancescam #scamvideo #scamvideosyoutube #scamvideocall #scamvideogames #scamvideocallonwhatsapp #scamvideoessay #scamvideosyoutubeshorts #scamvideosbelike #scamvideocallfacebook #scamvideocalltamil #scamvideosong #scamvideoonwhatsapp #scamvideoindia #scamvideostatus #scamvideoviral #scamvideoand #scammingvideo #scamvideosyoutubetelugu #videoscamelonmusk #scamvideo #scamvideosyoutube #scamvideocall #scamvideogames #scamvideocallonwhatsapp #scamvideoessay #scamvideosyoutubeshorts #scamvideosbelike #scamvideocallfacebook #scamvideocalltamil #scamvideosong #scamvideoonwhatsapp #scamvideoindia #scamvideostatus #scamvideoviral #scamvideoand #scammingvideo #scamvideosyoutubetelugu #videoscamelonmusk

• #news_politics
• #insurance_angels
• #insurance_fraud