I had applied for a home loan with Tata Capital and have provided them with all the necessary documents on 13-oct-2014. It has been 22 days since then and they are saying that I need to pay for a life insurance cover which is mandatory according to their policy. However, I have got reviews from lot of friend that this is not mandatory at all. Hence this resulted in wastage of my time and the date of payment for the demand from my builder is coming closer which is 14-Nov-2014. I have asked them if this is mandatory then please mention this in email and I will pay for the life insurance. But they simply denied. I believe as a customer I have a right to ask what policy states? I had summed up all my saving since 2 years and booked a flat with the builder but this looks that I have lost trust in them. Bank is forcing and pressurizing me to pay 30000 for the life insurance. I have reviewed lot of articles which state that life insurance is not at all mandatory for a home loan. This is really frustrating for me and I am in complete depression and this is also impacting my health. Please look into the issue and do the needful.
Bank is forcing and pressurizing me to pay 30000 for the life insurance. I have reviewed lot of articles which state that life insurance is not at all mandatory for a home loan. This is really frustrating for me and I am in complete depression and this is also impacting my health. Please look into the issue and do the needful.
Email Id: omeryousuf@live.