Hello friends..
I have to go n sign the documentation for home loan…i called them to ask what i `m suppose to get along they said
– approx 5200 as stamduty for mortgage
– 6 blank cheques for security
– 1 blank cheque for property insurance ??? i told them i dont want property insurance..the building is under construction..but only 1 slab is remaining..even the under ground tank is done..possession is in march 13..i will jst be wasting the money..although they said it covers you against natural calamities ..but still i dont want..is it mandatory ?? thats what SBI ppl said
– also they pushed me to go for some max gain suraksha insurance..its like some term insurance..incase something happens to me..they get de loan amount n family gets balance amount..again i didnt want it..since i already have a term insurance which is more than loan amount..bt they attach the loan with insurance..
now i dont want to repeat my mistakes and hence dont want property insurance..pls throw some light..i `m dealing with SBI…thank u