SBI Life Insurance Co Ltd - SBI SELLING LIC POLICY BY FORCE TO CAR LOAN SEEKERS
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Complaint by: IKRAM on October 6, 2010, 12:04 am in Business and Finances

Sir

After a long deal of repeated approaches to the vaniyambdi branch of sbi for car loan sanction of Rs 2 lacs for i20 sportz model new, costing Rs 6.32 on roads the loan amount was sanctioned from vellore office tn. At the *** 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: DONT BURDEN CARLOAN SEECEKERS WITH SBI LIFE INSURECE POLICY
Complainant's Target: SBI Life Insurance Co Ltd
Complaint Location: IndiaTamil NaduVellore
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Recent Comments
3.
Mon, 10 Mar 2014  mr johnson

Good Day ,

I am a dynamic financial assistance. I loan funds
out to individuals in need of financial assistance, that have a bad credit or in need of money to pay bills or to invest on business. I want
to use this medium to inform you that we render reliable and beneficiary assistance as be glad to offer you a loan. Presently i own 45% of the
shares in CGP(Capital Group PLC, London) a
government approved Financial. Institute. I am currently setting up a scheme in form of
Loan acquisition. to help various individuals as
well as organizations
who have intentions of. renovating, debt
consolidation, re-financing
and also establishment of. business outfits. I am
an international
business man and Lender that has offered Loans
to so various
individual and firms in Europe, Asia, Africa and
other parts of the
world. We give out our Loan in USD($) and GBP
(£). The maximum loan term we can offer is 30 Years at fixed interest rate of 3% per year. But before we can proceed you are expected to.
inform us of the exact loan amount requested so
as to enable us provide you. with the Loan Terms and Conditions. Please, do complete the short. application form given below we promised to help you out okay..
FILL THE BORROWER'S INFORMATION:
Your Name:______________________
Your Address:____________________
Age/ Sex _________________
Your Country:____________________
Your Occupation:__________________
Loan Amount Needed:______________
Loan Duration:____________________
Monthly Income:__________________
Cell phone Number:________________
Have you apply for online loan before______
Email:ericjohnsonloanmanagement45@gmail.com.
I await your swift response to this mail.
(Regards)
ERIC JOHNSON LOAN MANAGEMENT45 Inc.
DIRECTOR/ CEO: Mr. ERIC
LICENSE No: 98267

2.
Sun, 10 Jul 2011  gehard ruppel

Hello


Are you desperately in need of a loan?
Have you been denied of a loan from your bank or any institution?
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Offer is available at an affordable interest rate of 3%.

Interested applicant should contact us
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APPLICATION DETAILS

First Name:......................................
Other Name(s):...................................
Gender:..........................................
Marital status:..................................
Contact Address:................................
City/Zip code:.................................
Country:......................................
Religion:.....................................
Date of Birth:.................................
Amount Needed as Loan:.........................
Loan Duration:................................
Monthly Income/Yearly Income:.................
Occupation:...................................
Purpose for Loan:.............................
House Phone:..................................
Cell Phone:...................................
Have you apply for a loan before?.............
How did you hear about us?....................


ENSURE YOU CONTACT US via this email: capitalsolution@bluesash.net
=========================================


Thanks for your patronage

1.
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, 12:04 am