Is SBI General Insurance mandatory after home loan transfer ?

POSTED BY ndebjani ON October 5, 2013 1:09 pm COMMENTS (3)

I had transferred my home loan to SBI…they are forcing me to take general insurance from them that depends on the valuation which means I will have to make a one time investment of 35000 for the same and they say it’s mandatory…nothing was told to me when I applied for the same in their branch.

I would like to complain about the same. How do I take it forward?

3 replies on this article “Is SBI General Insurance mandatory after home loan transfer ?”

  1. ashalanshu says:

    Dear Ndebjani, in that case you w’d have to purchase property insurance from SBI General insurance.



  2. ndebjani says:

    So as per you SBI general insurance is not mandatory but property insurance is compulsory. Well I do not have property insurance for my flat.

  3. ashalanshu says:

    Dear Ndebjarti, is your property covered or not already? Please do not having property insurance is compulsory but purchasing it from SBI Gen. Insurance is not at all compulsory.



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