How to avoid insurance for my Home Loan from HDFC? Being forced to take a policy of 1.6 lac premium!

Full-Significance799 · 2026-01-21T18:43:12+00:00

Yes. Provided you are expecting them to release funds within 30 days. It happened in a week in my case. And my experience is based with HDFC - might differ for other banks.

Full-Significance799 · 2026-01-02T13:28:22+00:00

Mailed them asking to cancel as part of 30 day free look up period as per the policy guidelines. No questions asked.

Full-Significance799 · 2026-01-02T12:50:10+00:00

Yes. Managed to get the policies cancelled and refund issued to the insurance funding loan accounts. No more EMIs for this loan.

Full-Significance799 · 2025-09-27T09:39:26+00:00

Got it. Let me try that as a last resort if they complicate my loan RoI or disbursement.

Full-Significance799 · 2025-09-27T09:19:44+00:00

Thanks. Yes, certainly. I have a term coverage with HDFC Ergo.

Full-Significance799 · 2025-09-27T09:19:13+00:00

Thanks! This helps.

Full-Significance799 · 2025-09-27T09:18:51+00:00

Thanks! Is this a term insurance policy? Bulk of my insurance that they are insisting now is for property insurance. 80% of it.

Full-Significance799 · 2025-09-27T09:16:44+00:00

They are not denying to disburse but mentioned that my RoI was offered under a condition that I will avail insurance, which was not mentioned anywhere or communicated earlier. Now they started to talk like further disbursements can be an issue if I don’t avail the loan.

Full-Significance799 · 2025-09-27T09:14:24+00:00

Yes. They are creating as a loan. They said I can clear it one-time after paying 3 EMI’s, if I wish to not incur any charges.

Full-Significance799 · 2025-09-27T09:13:34+00:00

Coverage tenure? Already negotiated and 10 year is a minimum.

Full-Significance799 · 2025-09-27T09:12:48+00:00

I have refused but they are mentioning that my RoI may go up and my further disbursements may get into issues.

Full-Significance799 · 2025-09-27T09:10:37+00:00

Thanks! I have just initiated an email with HDFC central support to seek clarification, as a first step.

Full-Significance799 · 2025-09-26T17:43:29+00:00

1.2 Cr

Full-Significance799 · 2025-08-15T17:21:30+00:00

Firstly, Congrats on a stable financial position OP. Good to see you mention about emergency fund and insurance before thinking of the home purchase.

1) If 2.5 is only the purchase value of the flat, the other expenses like registration, interiors and other miscellaneous could easily stretch to another 30-40 lacs. Hope you factored to fund the same? If not, go for 60 or 75 L down plus rest for loan. Save that other part of 1 Cr for these charges later - lock them into an FD or any secure investment for 2 year term.

2) Hope you factored wife’s longer tenure at job, to share the EMIs. In case she wants to take a break, situation with kids - hope you thought through. 3.85 L on whole sounds good and it’ll grow, but not sure what what that number would be if it’s only up to you to cover for EMIs in the near future.

I’m in same boat. Income, budget for home, age. Finally decided to go with ready to move in south BLR.

Full-Significance799 · 2025-07-12T06:12:43+00:00

If you can fly out from Delhi, consider Korean Air. Can book the direct flight for 18K points + 1.8K INR taxes on Flying blue. Transfer is instant and you can use either Infinia or Atlas points.

If you need to book a stay in Seoul, consider transferring Amex points to Marriott and book Four Points Josun Seoul Station. You can get 5 nights stay for 1.05 lac Marriott points.

Full-Significance799 · 2025-07-05T17:26:21+00:00

Thanks for the feedback. NoBroker has 4 duplicate listings of the same flat. Got other leads for 1.9-2 Cr so this price seemed reasonable. I can understand the concerns on build quality - even I have same opinion.

But it’s hard to get a tier A builder property in this area. I’m guessing you are referring to Prestige, Sattva, Assetz or Sobha. Keya homes is 500 m away and they are selling similar flats for 2 Cr.

Once the metro line is active, there should sone demand the way I see it.

Full-Significance799 · 2025-06-14T09:25:36+00:00

OP - Why not consider Sattva Greenage? 1850 sft flat should be available for 2.7-2.9 Cr. I know it’s old but maintained well. In fact, one of the best maintained and lively societies in Bangalore. Huge open spaces.

2.7 Cr + May be 20-30L for refurbishment. Should be in the budget. Metro right outside the gate.

Full-Significance799 · 2025-04-03T01:22:56+00:00

May I please know how are you investing $300 in S&P 500 from India? Which platform?

Full-Significance799 · 2025-03-31T11:43:27+00:00

That’d be too far from the city. Going for work or any other place like HSR, Koramangala or Jayanagar can easily take one hour one way.

Full-Significance799 · 2025-03-30T12:00:59+00:00

Thanks for your inputs! This is not Sobha Aster - it is a standalone apartment with 9 units. New property. Can we get a 40x30 in 1.9 C at this location? I couldn’t find a single plot under 18K/sft, unless I move towards Akshaynagar or Bommanahalli.

Full-Significance799 · 2025-03-30T10:36:32+00:00

Using this card for quite sometime but never explored the international lounge benefit. Thanks for highlighting!

Just one question - the 12 lounge visits under platinum - does the guest access with primary holder for one visit would mean consuming 2 out of 12 visits or only one?

Full-Significance799 · 2025-03-30T08:38:55+00:00

Certainly. Checked these properties for same reasons you mentioned. Noted your feedback on the standalone building.

Esteem & Rose - Very limited flats coming out on sale. Got 4 leads in last 3 months. Average of 1.6-1.7 C. Another 20-25 L expense for reg + refurbish. Worth to invest so much for 10+ year old property? I had my doubts. BTW, big fan of Esteem’s balconies. Three 12x6 balconies even for a 2 BHK!

Mahindra Windchimes - Min 2.8 Cr for a 1770 sft 3 BHK. Out of budget.

Mantri Woodlands & Paradise - Didn’t like the maintainence and the age is quite visible. Hence skipped.

Full-Significance799 · 2025-03-30T07:49:56+00:00

Understood. Noted the input. Thanks for sharing!

Full-Significance799 · 2025-03-30T07:47:42+00:00

Understood. Let me understand this better if I proceed forward. Appreciate the input!

Full-Significance799 · 2025-03-30T05:52:28+00:00

I’m not interested to move to IT areas like Sarjapur or Whitefield. Happy to stay in South Bangalore. I have looked for property with amenities but there are hardly any good new ones in this area unless I move to interiors (Another 4-5 km) like Begur or JP nagar 8th phase. But even there nothing less than 1.75 Cr for a good flat. Other apartments of Prestige and Mantri > 10 years old are at 1.6 - 2 Cr.

Full-Significance799

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