This is a discussion on HDFC Home loan_HDFC Std Life Insurance (Unit linked plan) within the Home Loan forums, part of the Loan category; Sir, I have availed Housing loan from HDFC bank for Rs 17,65,000/. My loan account no-356730935. At the time of ...
I have availed Housing loan from HDFC bank for Rs 17,65,000/.
My loan account no-356730935.
At the time of signing the documents, HDFC sales persons asked me to take the
HDFC std insurance Unit linked plan, which they said compulsory and I was informed that
I have to pay the premium amount Rs 25,000/- for 3 years, i.e Oct 2008,Oct 2009 and Oct 2010.
While crediting my loan amount in Oct 2008, HDFC bank deducted the first premium of Rs 25,000/-Hence I received only Rs 17,40,000/-.As we can see, for this 25,000, I am paying the EMI for 20 years.
I do not feel that this is a fair transaction.Before deducting the money from my loan amount Bank officials should have got the confirmation from me.
I raised this issue with the bank,but no reponse.
Nevertheless,now I approached them again, and was shocked to know that I have to pay the premium amount for 5 years.???
I am in a difficult situation that I can not even pay for 3 years there stands no question to pay for 5 years.
Though the market seems to be improving,as an individual I find it tough going.
Hence I am requesting you to kindly look into the matter and please do the needful.
Thanks and Best Regards