Beware Of This Home Loan Scam ⚠️

Beware Of This Home Loan Scam ⚠️ || bekifaayati #shorts #youtubeshorts #youtubepartner

RBI or the insurance regulator do not mandate that you buy insurance for the purpose of availing of a loan. Further, banks cannot force you to buy insurance from their recommended insurers only. However, it is a general practice for banks to ask for property and life insurance when extending a home loan

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[SatsangMarag]

Benk wala:- Insurance compulsory lena padega
Me :- mai nahi lenga
Bank :- to mai loan nahi denga😅🤣

[rushabmehta]

its very easy on youtube when both of the parties are you🤣

[kamalbahadur]

My experience with three banks -
HDFC - Whether you have term insurance or not, you need to buy another term insurance from us.
SBI - Term insurance is not mandatory, but property insurance is, and without it, no home loan.
BoB - If you have a term insurance, you need to authorize your insurer to pay our loan first in case you die, else buy a term insurance from us.

[ayushbajaj]

As per rules, property insurance is compulsory, but life/term insurance is not compulsory

[hairstuff]

Guys do take hone loan insurance the case happened with my relative ge passed away due to covid after taking loan now that he had insurance his family won't have to pay emi his loan is paid by insurance company and home loan is clear donn let your family suffer do take home loan insurance

[ronakkatariya]

Insurance shouldn't be compulsory even for vehicles .... Insurance is just like a unwanted forced business in India ...

[mithunhavakkanavar]

Bajaj finace has forced me to take insurance 250k and changed MoA 15k never buy home loan from Bajaj

[avnikukreti]

Faced this yesterday, its difficult to convince them.. bank is just not ready to listen

[thehindu]

She is correct. I have taken 46 lac home loan without a single insurance. Neither property nor Personal

[salmansayyed]

As you said life insurance is not mandatory onlu property insurance is mandatory but it's for customer safer side incase of borrower death his family need not to pay loan amount insurance company repays the amount .. If you don't take insurance bank ko koi farak nahi padta as home unke pass mortgae hota hai wo use nilam karke unka paisa recover kar lege

[PratikBabar]

I have seen them offer the same loan at higher interest rate citing increased risk factor

[kaarthikkm]

Every bank sell insurance while offering loans, right under RBI's nose.

[akhileshin]

Mujhe personal loanke sath SBI ne insurance lena compulsory btaya tha bina insurance ke loan nahi de raha tha.

[manish]

In real life when u say thar i won't take insurance, they will just deny the loan.

[mohannadaru]

If no insurance no loan. Also note the point. Manager never approve such loan without insurance. U Can't do anything

[dheerendragupta]

you should always take the home loan insurance, even if it's costly. don't take for all 20-30 years but take it for atleast 10 years.
it'll cost around ₹ 50K for a loan of 20 lakhs for 10 year insurance.

[vivekjalan]

Mam apka video acha lagta hai bcoz u provide necessary information with fun.

[chetanchamp]

My friend closed his father housing loan by this insurance although its not mandatory but quite helpful in unforeseen circumstances

[DrDarshan]

True. But not applicable in reality. Been there, faced it! Bank simply refused! Filed a complaint. Nothing happened!

[ritikachouhan]

Please take insurance. Ye jaruri to nhii hai lekin lena chahiye. Mere father ne loan liya tha 14 lakh ka hmne 7 lakh bhar diye the lekin phir ab Papa nhii rhe to company hame notice bhej rhii ki emi bharo. Abhii total loan amount se bhii jyada pesa mang rhe with all the fine and other charges. So please apna insurance jarur le properties aur khud dono ka.