POSTED BY October 26, 2012 6:54 pm COMMENTS (3)ON
I have just taken SBI MaxGain home loan for a flat. I have taken loan of INR 38 lac. On the loan aggrement date bank asked for Property Insurance of approx. INR 19500 on my loan amout. Thats fine.
Bank asked me to give the cheque for the same. I have given cheque of Rs. 19500 to SBI. However bank did not give me any documetns for the Property Insurance. They have handed over only the Home Loan documents.
I would like to know, when bank takes property insurance amount, do we get any document for the same as a proof? Or may be for our reference.
Awaiting your reply.