SBI life insurance ties up with syndicate bank offering its customers insurance cover on the home loan. This scheme can be enjoyed by the borrowers of syndicate bank home loan who has availed loan under special scheme announced by the Indian Bankers Association and government of India.
The scheme would be effective up to end of this June. The insurance covered is not home but for home loan which will cover borrowers’ family from the outstanding loan. The insurance cover for home loan ensures retention of property in case of unforeseen incident.
The housing loan cover, premium which does not charge any documentation charge from the borrower and premium of which will be borne by bank. SBI life insurance is joint venture of BNP Paribas and SBI.
SBI life insurance MD and CEO, U S Roy said that tie up with syndicate bank would further enhance accessibility of home loan protection products covering the family of borrows and ensures retention of property.
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Tags: Apartment India, Bangalore, Home loan insurance, Home Loans, Real Estate India
