New Scam : Banks force selling ULIPs for loan approval or switch - Indian Real Estate Forum

singh_is_king · 25-02-10

Guys, I am glad that you are helping each other by being realistic and discussing the builder’s modus operandi but what about the new scam which is coming up. Yes, the banks, private or national, are now force selling ULIP for a loan sanction or a switch.

Read the related news here : http://www.jagoinvestor.com/2010/02/...-products.html

And see this guys blog who got duped by ICICI. He was asked to buy a ULIP for a loan switch.

http://icicidupedme..com

Guys beware of banks now J

aditi sharma · 25-02-10

This is why one should go for PSU banks like SBI rather than crook banks like ICICI. ICICI loan should be the last option anyone should consider.

amjamirs2 · 25-02-10

It is always better to go for natinalised bank. But even they are following such practices now a days. My friend just got loan from SBI. They asked him to purchase SBI Life Insurance worth 20000 Rs.

veeemkay · 25-02-10

Only Builders and Bankers have a right to earn and enjoy in this world. Remaining Mortals are just for the appeasement of the above 2.

So earn and give every paisa of your money to them.

VK

RAJESHP · 25-02-10

Quote:

Originally Posted by veeemkay

Only Builders and Bankers have a right to earn and enjoy in this world. Remaining Mortals are just for the appeasement of the above 2.

So earn and give every paisa of your money to them.

VK

You forgot POLICIANS, or they are included under "builders"

25-02-10	#1
singh_is_king New Member Join Date: Feb 2010 Posts: 2 Thanks: 0 Thanked 0 Times in 0 Posts	New Scam : Banks force selling ULIPs for loan approval or switch Guys, I am glad that you are helping each other by being realistic and discussing the builder’s modus operandi but what about the new scam which is coming up. Yes, the banks, private or national, are now force selling ULIP for a loan sanction or a switch. Read the related news here : http://www.jagoinvestor.com/2010/02/...-products.html And see this guys blog who got duped by ICICI. He was asked to buy a ULIP for a loan switch. http://icicidupedme..com Guys beware of banks now J

25-02-10	#2
aditi sharma Senior Member Join Date: Jun 2009 Posts: 760 My Mood: Thanks: 0 Thanked 1 Time in 1 Post	never go for ICICI This is why one should go for PSU banks like SBI rather than crook banks like ICICI. ICICI loan should be the last option anyone should consider.

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25-02-10	#3
amjamirs2 Member Join Date: Feb 2010 Posts: 204 Thanks: 0 Thanked 0 Times in 0 Posts	It is always better to go for natinalised bank. But even they are following such practices now a days. My friend just got loan from SBI. They asked him to purchase SBI Life Insurance worth 20000 Rs.

25-02-10	#4
veeemkay Senior Member Join Date: Jul 2009 Posts: 557 My Mood: Thanks: 4 Thanked 2 Times in 2 Posts	Only Builders and Bankers have a right to earn and enjoy in this world. Remaining Mortals are just for the appeasement of the above 2. So earn and give every paisa of your money to them. VK