Hi All,
I have taken a home loan from SBI and they insisting to take Rinn Raksha insurance policy with it. I have try to refuse the policy but they told that your loan only can process if you avail the policy. At that time I have no option rather to take the policy. Its premium is to be pay in 5 year and covering the loan amount also Its premium will be paid by SBI and the Premium amount will be added with my loan amount.
However as per construction schedule of my home 35% of the loan amount is disbursed by the bank and no/1st premium amount regarding Rinn Raksha is submitted by bank till now.
Can anybody help me to get rid out of this Rinn Raksha at this time as i have enough life cover from other company.