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MouthShut Score

62%
2.77 

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They will steal your money
Nov 15, 2018 12:38 PM 911 Views

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I am home loan customer of SBI, and during loan process SBI team asked whether I need Home Insurance package which I denied.


To my surprise, after one year, SBI Home Insurance has deducted Rs 21, 000 from my loan principle without informing me, without getting any insurance policy document or insurance paperwork.


I am running pillar to post to get the money back, but no one has any clue on money being deducted. SBI Home Insurance team has hacked into SBI Loan accounts to deduct the premium. I have come across few more similar cases. Most of the SBI loan customer are poor and don't login on internet to check the principle balance, therefore they don't know what is happening behind the door.


SBI Home Insurance team has access to SBI databases, and unauthorised deductions are being made by them, just show higher sales and pocketing in the comissions. Big unchecked loot is going on with no one to look after.


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