POSTED BY January 20, 2014 8:32 pm ONE COMMENTON
While taking the home loan from SBI in June 2013, I opted for Property insurance (from SBI general insurance). My flat is under construction right now and possession is in Dec 2014. On 3-jan-2014, SBI added Rs 18509 in my account on the name of property insurance.
My Loan amount : 29 Lakh
Period : 20 years
I am doubtful that SBI has cut the premium at right time (means before possession) and right amount (18509). Can someone explain how they calculate premium and is the amount charged to me is correct and at right time?
Thanks in advance.