Insurance issue with Gold Loan
10-Jul-2023 (In Banking / Finance Law)
My father has taken the gold loan in 2018 with insurance and in 2019 he renewed the loan and the executive told him that everything is same and all the term and conditions .Unfortunately my father expired in feb 2020 . When we approached the bank then they are saying there is no insurance attached with this loan . We escalated this to sr management of bank then they are saying there is no insurance product available at the time of renewal of Loan . This wsa not conveyed to customer .
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