Here's how banks mis-sell financial products. Have you ever been scammed by a bank?

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Here’s an interesting article on how banks scam unwitting savers in buying dubious products just to meet their targets. Do you have any stories being ripped off by bank managers or any financial services businesses.

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I had a relative who went into a bank account hoping to invest in mutual funds and instead came out with an ULIP policy. She ended up paying I think something like 26% in commissions from here first year premium, 5% from her second year premium along with premium charges and so on.

It is probably one of the worst products ever created. The insurance component doesn’t protect you enough and the investment component doesn’t yield much. Worst of all worlds.

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The scammers also have to eat food right?

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I have never been cheated but its good know these news for awareness.

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Here’s a new one

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Source: Moneycontrol