Home Loan

POSTED BY gnaneshwar s ON March 8, 2013 7:43 pm COMMENTS (2)

Sir,

I had a taken a house loan recently from SBI for Rs.20 L under maxgain. Loan period is 20 years. They have asked me to pay loan insurnce premoum of Rs.80,000 which will be paid in first 5 years.  This is for the homaloan insurance.  

Plese advise…

Sharma

 

 

2 replies on this article “Home Loan”

  1. Credexpert says:

    Dear Mr.Sharma,

    Opt for the home loan insurance only if you feel a need to do so. And what exact advise do you need ?

    Regards,
    Credexpert

  2. Dear Ganeshwer/Sharma, the insurance you are referring to is Mortgage term cover offered from SBI Life & nothing but a cross selling. If you are already covered adequately more than your loan amount, you need to opt this insurance.

    Thanks

    Ashal

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