[Resolved]  SBI General Insurance — Deducted money from my SBI savings amount for the Policy premium without notifying me

Address:

North 24 Parganas, West Bengal

I have Rs.600000/- Housing Loan from SBI. I am paying a regular EMI since 2009. All of a sudden, yesterday I received a policy paper from SBI General Insurance stating that an amount of Rs.5353/- has been deducted towards the payment of the home insurance premium. I have never opted for any kind of Home Insurance Policy. At first, I was unable to understand how the amount got debited from my account when I have never issued any cheque. Later, I found that they have deducted the amount from the EMI that I pay towards the Loan amount. I have a Standing Instruction to deduct the monthly EMI from my SBI savings account for the payment of the home loan EMI.

My question is, if it was mandatory to have a home insurance then it should have been in force since the inception of my housing loan. When it was not done during that time then it the duty of the company to inform me or take my permission before deducting the amount.

Please help me get my money back. The policy number is : [protected]

I want close my home loan within the next 4-5 months and don't want get involved in any kind of home insurance at this point.

Please help.

Thank you.

Regards,
Samhita Dutta
Policy No: [protected]