hi,

I have recently taken a Home loan from IDBI Bank ( loan acount No 0753675100000480). The problem they have tied it up with home loan insurance calling it as compulsory. They should have clearly told that that loan insurance is optional burdening me an additional amount of arround of Rs 80000. Currently I have availed a 4 loan disbursement and want to do away with Loan insurance ( IDBI deferal Certificate No 4000340113) and now the IDBI refuses to cooperate saying its too late and is mandatory in my case.
when I ask them why is loan insurance is mandatory in my case when some of my colleagues have got their loans from the same bank wihtout insurance they have no answer.

This is clearly the case of customers are being misguided and manipulated by sales reprentatives.

I believe , loan insurance is just like any other LIC policy which can be cancelled. Kindly help me I have been repeatedly following up without getting any positive outcome out of it.

regards
Haresh
9702004304