[Resolved]  Punjab National Bank Housing Finance [Pnbhfl] — punjab national bank housing finance - forced to buy insurance without my knowledge

Address:

Bangalore, Karnataka, 560100

I have applied for home loan at pnbhfl in bangalore. And to my surprise, in the disbursement letter i see a very high amount towards insurance premium which i have not even opted for. Even the bank exec has not informed me about any insurance policies while applying. Suddenly they have added 105000 lakhs towards insurance amount to home loan in sanction letter.

Also they have charged me rs.15279 which even customer care dont know whats that money for.

Inst no: 117069
Mode:cheque
Date: 28012019

Tata aig general insurance co ltd a/c no bank name
Inst no: 117070
Mode:cheque
Amount :1, 05, 000.00
Date : 28/01/2019

I have received this documents after the disbursement i have not received any information before that

After consulting with few people i came to know that, under rbi insurance act laws, no bank can force customers for insurance policies with home loan. I will not be able to take the insurance policy mentioned in the sanction letter.

So i request you to please check and revise the sanction letter without any insurance premium added. Please help.

My loan reference details: hou/ecty/1218/620097