POSTED BY March 27, 2013 1:43 am COMMENTS (9)ON
This site is a realy saviour thanks for this wonderful work and great solutions.
I am in another fix this time around.
I had applied for 30 lac loang, further I got a call from the SBI person asking to go for a personal insurance cover failing which loan will not be sancitoned, I understand property insurance is mandatory as it protects against natural calamity, but y is personal insurance with a sum assured of 30 lac (the same being my loan amount)?
Please advice what can I do ? is it really mandatory ? as I think till the time I repay back the loan house is mortgaged with the bank and this takes care of it so in case of any unnatural thing occuring the property is with them as it is
Waiting for your kind reply
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