SBI Life Insurance Co Ltd - SBI LIC NO TAKERS.....FORCEFUL SELLING TO SBI CUSTOMERS..IS IT SO CHEAP???
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Complaint by: IKRAM on October 6, 2010, 12:18 am in Banking and Finance

SirO

VANIAMBADI BRANCH OF VELLORE.. TAMIL NADU CANCELLED THE SANCTIONED CAR LOAN WHEN THE CUSTOMER REFUSED TO TAKE SBI LIC POLICY.. LOAN AMOUNT OF 2LACS was sanctioned from vellore office tn. BUT At the fag end of handing over the already drafted DD for the above amount I was FORCED TO TAKE UP THE SBI LIC POLICY IN RETURN OF THE CAR LOAN SANCTIONED TO ME.. I refused to pay for the new sbi policy, as iam already holding LIC OF INDIA POLICY for the past 10 years e in force. In the event of not taking the sbi policy... SANCTIONED LOAN WAS REFUSED BY THE LOCAL BRANCH OF VANIYAMBADI VELLORE DIST TAMIL NADU AND I WAS DESPARATE to tender the loan cancellation letter to the vaniyambadi manager with my complaints and regrets there in in my cancellation letter addressed and handed over to the brancch manager vaniyambadi vellore dist.

The branch manager then delighted to cancel the granted dd and further debited my account for Rs 1200-/ plus by way of processing fees.

THIS HAS RESULTED IN MY LONG WAIT AND THEN FRUSTRATIONS OF ADDING THE LAST MINUTE TAG OF COMPULSARY SBI LIC POLICYS SALE TO THE LOAN SEEKER, BEARING A FURTHER LOSS OF PROCESSING FEES WITHOUT LOAN AMOUNT

THIS TAT AMOUNTS TO LACK OF TRANSPARENCY IN YOUR CAR LOAN POLICY COMPELLING CAR LOAN SEEKERS TO TAKE UP YOUR POLICY IN SPITE OF MY HOLDING OTHER POLICIES IN FORCE

IT IS RIDUCULUS TO NOTE THE EVER SEEN ARROGANT MANAGER OF THIS NATURE BEHAVING SHAMELESSLY WITH A SENIOR CITIZEN PEDIATRIC CONSULTANT DOCTOR IN THIS MANNER..THE BM IS COMPARING AND ARGUING THE MERITS OF SBI WITH PAWN BROKERS BUSINESS.. WHEN U CREATE A HP FOR THE NEW CAR WHY ASK FOR YOUR BANKS LIC POLICY ALSO.. IF SO KEEN OF ADDITIONAL SAFETY OF UR LOAN RECOVERY .. WHY DONT U OPT FOR GETTING THE ASSIGNMENT OF THE ALREADY EXISTINGR OTHER LIC POLICIES IN FORCE...WHY DO U DESIGNATE YR LIC POLICY SO CHEAP IN PUBLIC.

IT SHOULD NOT BE FORGOTTEN THAT PEOPLE ARE WARY OF THE ATTITUDE OF PAWNBROKERS AND PRIVATE FINANCIERS BUSINESS PRACTICES CAUSING ECONOMIC BURDEN, SO THEY APPROACH NATIONALIZED BANKS..

SUCH A PRACTICE IS SURE TO BRING DOWN THE IMAGE OF NATIOTNALISED BANK BUSINESS.. ADAPT HEALTHY ATTITUDE TO PROMOTE AND SELL YOUR LIC PRODUCT WITH DIGNITY TO BRING GLORY TO SBI LIC POLICY AND SBI AS A WHOLE..

''KINDLY INTERVENE AND OBLIGE'''''


Indian Voice

Complainant's Goal: GIVE UP CHEAP WAY OF SELLING YOUR SBI INSURANCE POLICY BRING GLORY TO SBI
Complainant's Target: SBI Life Insurance Co Ltd
Complaint Location: IndiaTamil NaduVellore
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Wed, 06 Oct 2010  Message from iComplaints.in Helpdesk

An email communication has been sent to SBI Life Insurance Co Ltd on October 6, 2010, 12:18 am