[Resolved]  State Bank Of India — NRI Home loan insurance Fraud

Address:

Nellore, Andhra Pradesh

I am an NRI and I had applied NRI home loan from SBI in the year 2013.My loan was approved and later I had given POA to my father. With out knowing to me, my father was forced by SBI staff to opt for home loan insurance which is 60K INR through third party insurance company.My father was innocent and signed on those papers. I was not aware of this thing and later realized about the same while paying home loan back. How ever, we were told that 45K INR would be refunded after finishing the loan payments. I had cleared my home loan in the month of September 2014 and I got my loan completion certificate from SBI. How ever, we have still not got our refund money(close to 45K INR) that was paid for home loan insurance. Insurance agent is troubling me and my father and giving excuses every time we ask for refund money.He is saying cock and bull stories to us and wasting our time. According to IRDA, home loan insurance was not mandatory but my father was forced to buy it. I had already lodged a complaint but still there is no response from them.