Complaint Details

Status	:	Closed
Complaint No	:	0101391/2018
Category	:	Insurance
Date	:	20-01-2018
Subject Line	:	Home Suraksha Plus Policy from HDFC
Complainant	:	M SREENIVASA RAO
Address	:	302, GLR DREAM HOMES, SARADHI NAGAR
Complainee	:	HDFC
Address	:

Complaint Details
I am having a good relation with HDFC and having 4 products from HDFC including housing loan. Have faith always with HDFC in all the matters so far. I have got a call about my housing loan insurance renewal in the last week and realized that something went wrong in this entire process. I was told that insurance is compulsory for this kind of amount and it would good to have and covers both life and loan insurance. I thought and also gone with the bank agent and officer that it would be good to have secure for my loan. Hence agreed and signed all the papers. No one mentioned that this insurance period is 5 years at all and also not received any documents regarding the same so far (checked all the documents after that last week call). As you see below, the insurance (Rs, 1.25 laks) amount also was part of the loan amount and felt that this is for complete loan period. How could this be a part of loan amount if it is for 5 years and on what basis they have decided the EMI??


I am really upset and feeling that it was a kind of cheating the customer during this process. Could you please check this case and get back to me the details. I am hoping for the positive responses before I would proceed further.

DISBURSEMENT DETAILS
Sl. Date Amount (Rs.) Payable To
2 30-JAN-13 1,24,813 HDFC ERGO General Insurance Company Limited
1 30-JAN-13 28,13,825 LIC HOUSING FINANCE LTD, LOAN A/C NO.17064310567

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