[Resolved]  Dewan Housing Finance Corporation [DHFL] — Home loan with forceful insurance

Address:

Mumbai City, Maharashtra

I applied for Home loan(loan against property) from DHFL Mumbai branch with sanction application number: 01387973.

When I received my sanction letter I was shocked to learn that there is a pre condition for disbursement of home loan that the applicant has to take DhFL home shield and other policies recommended by DHFL, whose whopping premium of 855, 568 would be added to my loan account (on which interest would be charged)

No where on the website of DHFL it is mentioned under the requirements section not it was pre informed to me that it is mandatory to take the policies recommended by DHFL.

I tried to call customer care many times but phone number always comes busy and when I sent email to them no one responded to my email promptly.

I even called to the complain number given on DHFL website, but they stated that, they can't help me in this matter and I should rather check with the Customer care or the branch.

As per RBI norms insurance cannot be forced on the home loan applicant and it should be as per applicants choice still some companies force for insurance through them in order to pocket commission.

Please take necessary action on this on urgent basis.