Premium on cancelled insurance policy still deducted along with EMI

[samkapoor77]

I borrowed home loan from SBI and at the same time took life insurance policy from them. Within free look-up period, I ordered SBI to cancel the policy but the amount of premium is still being debited from my account along with EMI. I enquired from SBI Life, they said that no such policy exists with them. Please tell me what should I do?

[samkapoor77]

Write to SBI asking your money back along with the interest on the same. If you have sufficient proofs of communications with SBI and they fail to pay you back, file a complaint with banking ombudsman.

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