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[Resolved]  SBI home Loan under special scheme “interest rate sign 9.25% fixed for 5 years " — Free Life Insurence covered under home loan scheme “interest rate @ 9.25% fixed for 5 years”

Dear Sir,
I have taken Rs 1000000 home loan under special scheme “interest rate @ 9.25% fixed for 5 years” in March 2009 from SBI Bank,Murbad Road, Kalyan Branch. As per scheme free life insurance policy linked for loans up to Rs. 20 lacs only taken under this 9.25% scheme by SBI Life, but we have not received any written document till now related with insurance cover. I have approached to Kalyan Branch and RASMECC, NAUPADA, Thane (W) to know, whether free life insurance has covered under @ 9.25 % home loan scheme or not, but no one give me confirmation. Every One from SBI Loan dept, give me different - different answer. No one have proper information. Also on SBI website no proper information regarding it. On the time of application, Manager told me, you will get free life insurence cover in this scheme on full amount of loan.
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Complaint marked as Resolved Aug 14, 2020
Complaint comments  2 CommentsShareTweet

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home loan insurence — home loan insurance

dear sir
my father had taken a home from private home loan finence company .now my father is dead. he was insured or not this is not conferm. now company is denied for insurence of home lone .i have no any policy copy and any document releted to insurence plese help
and give me some suggetion on it
At the time of taking loan one has to be at most care full regarding the hidden facts, The agents does not provide the complete information, they say something but actual fact is something else. Before going for the home loan try to read the reviews regarding the selected bank. Because they give us the experienced information probably it may be true and then counter check the same with the bank.

K Mallaiah

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