State Bank Of India [SBI] — Request for Refund o[censored]nauthorized Property Insurance Charges

Address:

Gali No 1 Plot No.23 Azad Nagar kurukshetra

I am writing to bring your attention to an issue that I believe is o[censored]tmost importance.
On the backdrop, allow me to remind you that I have been maintaining an exemplary record of servicing my home loan, which I took from the State Bank of India back in 2019. Throughout these years, I have ensured to make my repayments timely and in full.
However, I was recently taken aback on receiving a notice from the bank insisting on insuring my property against risks such as fire, earthquakes, and floods. Without my consent, on 23rd August 2023, an amount of INR ₹21, 723 was debited from my account towards the insurance premium for this proposed cover.
Post noticing this unauthorised debit, I immediately approached the bank to discuss the matter. As per my understanding, there is no mandatory clause requiring home insurance, especially without my agreement. Upon raising this concern, I was instructed by the branch manager to file a complaint.
It deeply concerns me that there is such a lack of transparency and arbitrary behaviour from your end, which I, as a customer, must confront. To be charged for an insurance policy that I did not opt for, and that too abruptly after four years of taking the loan, is uncalled for and unprofessional.
Therefore, I kindly request that my complaint be taken seriously and that the deducted amount of INR ₹21, 723 (alongwith interest if deducted)be refunded/cradit of my loan account number [protected] at the earliest to my account. I would also appreciate receiving a detailed explanation of the bank's policy in this regard so as to avoid confusion in the future.
I am looking forward to swift resolution and transparency in this matter.
Thank you for your prompt attention to this request.
Yours sincerely,
Rajni Rani Verma w/o Satya Narayan Verma
[protected]