I went to MadramPura, Jaipur branch and asked them to open Sukanya Samriddhi Yojana account for my girl child. The employee wasted my 1 hour because the employee was doing other tasks while filling my form. It happened 3-4 times.
Later, They open their own savings account even when I asked them for SSY account and after completing process they asked me for 51000 INR cheque. I was shocked because SSY is a govt scheme, and minimum deposit required is 250 INR. I was unaware that they didn’t open SSY account. I told them, I am unable to pay 51000 INR. But they told me process is completed, give us a cheque of 51000 INR, we will deposit only when you confirm on phone. I gave them 51000 INR cheque. After 3-4 days, they called me and I said I couldn’t arrange the money. The employee came to my home and said you have to pay this cheque otherwise my job will go. I refused him clearly. Later he deposit my cheque without confirmation from me. The cheque got bounced and penalty was taken from me. Same day I went to the branch and told the story to bank manager. He asked the employee to close the account. But I asked to transfer the account to post office because only 1 SSY account can be opened for a girl. The bank manager told me that they did not open SSY account, instead opened their own account for minor. I asked him to close the account. Afterwards the employee requested not to close account 4-5 times, but I didn’t took him seriously and closed the account.
I thought they are making fool people without telling them about initial deposit amount and by opening their own account. and when you fell in trap, they will take Penalties from you.
They are also fooling government because if they open their own account the money deposited will be go to their bank, instead of government.
The bank give target to their employees to create new accounts, for that they will lie, hide details from you.
Later I opened SSY account in nearest post office. They told me the process and asked me for required documents. I deposited money as I want.
I suggest people if you want to invest in govt schemes, should go to post office or govt bank.