Need A Financial Product Forums Insurance Is ICICI entitled for insurance on its name for loan

This topic contains 1 reply, has 2 voices, and was last updated by  Thogiti Ramesh 2 years, 4 months ago.

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  • #46709

    I have borrowed a home loan from ICICI and as per their norms for property insurance I gave them an additional cheque on the name of insurance company. To my surprise, insurance is on the name on the name of ICICI and as per them I need to get it endorsed on my name at the time of loan closure. I even don’t have a copy of insurance. Is bank right?

    #46710

    Neil Shah
    Member

    You should have original copy of insurance. Insurance should be on your name and assigned to ICICI. Write a letter to your branch manager seeking clarification on the same.

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