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Showing posts with the label How Bank systematically cheats SIP Systematic Investment Plan (SIP) or SIP Systematic Cheating Plan

SIP Systematic Cheating Plan Beware ! How Bank systematically cheats SIP Systematic Investment Plan (SIP)

Beware ! How Bank systematically cheats SIP Systematic Investment Plan (SIP) or SIP Systematic Cheating Plan Beware !   How  Bank systematically cheats  SIP Systematic Investment Plan (SIP)  or  SIP Systematic Cheating Plan  A special SIP series for members who want to do SIP on an Agents calls.  Systematic Investment Plan is  not a 100% systematic is what I am going to talk .   There are a number of Bankers who cheat people. As they have big sales tragets.     BEWARE OF HDFC ULIP policies. They are cheating people without giving proper facts. I recently bought a ULIP from HDFC, the manager informed me the commission charged by the bank is 2.5% of the total investment. After a week I got the recipt of the ULIP and it showed investement of only 40%. The remaining 60% was missing. When enquired from the bank, they say the commision is 60% for the first year, 50% for the next year & 3 rd year is nil, but if you continue the policy after 3 years then again the the commisi