Sbi forced me to take insurance

[User_ee8996a6]

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User_ee8996a6
PARTICIPANT
February 17, 2025 at 8:25 am

I opened an account with sbi 2 days ago. And during account opening process , i was informed by the bank officials that it is mandatory to purchase insurance in order to open a saving account.
I told them that i dont want it but they kept saying it is mandatory for new accounts to purchase this insaurance.
Still i cant get over it and i want to cancle it and get my money refunded. What should i do ?

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[Expertumang5984]

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Expertumang5984
PARTICIPANT
February 17, 2025 at 8:29 am

Any insurance has a 15 day look up period, so it can definitely be canceled

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[Urbanlavanya7569]

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Urbanlavanya7569
PARTICIPANT
February 17, 2025 at 8:33 am

Raise a complaint about this forcing thing. Follow the cancellation process as suggested in the other comment.

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[Indiangargi2466]

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Indiangargi2466
PARTICIPANT
February 17, 2025 at 8:38 am

They are just scamming you. Whenever any bank official tells you something like this tell them to give it in writing with and watch how so many mandatory things become optional.

If you have some proof the employee forced you into insurance, mail a complaint to the manager. Then after 30 days if you’re not satisfied with the response complain to ombudsman.

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[Anshulmaster906]

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Anshulmaster906
PARTICIPANT
February 17, 2025 at 9:15 am

Cancel it within 15 days go the banks directly and submit written application as well and take some proof that you submitted it. Mail the bank as well for cancellation and mention the mis selling done. If they dont cancel it then complain the bank about the same via written application. Wait for 30 days if still not cancelled approach rbi ombudsman that should put them in their place.

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[User_1d6e4973]

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User_1d6e4973
PARTICIPANT
February 17, 2025 at 9:21 am

There is a free look up period in every insurance which varies from 15-30 days, from the day your account has been debited. Generally they will call you for confirmation before issuance of policy, you can raise your complaint then. You can also directly speak to the insurance company (SBI Life Insurance, I guess) and ask them for cancellation within the free look period.

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[Desishashwat2199]

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Desishashwat2199
PARTICIPANT
February 17, 2025 at 10:00 am

write an email to the branch manager, copy the rbi helpline for your state

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[Happykunal9581]

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Happykunal9581
PARTICIPANT
February 17, 2025 at 11:34 am

Complain to RBI ombudsman

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[User_f3de807c]

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User_f3de807c
PARTICIPANT
February 17, 2025 at 12:24 pm

You will be refunded.

Bank will continue to employ this strategy because the refunds will be in significant compared to business. 

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[Epicowl9962]

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Epicowl9962
PARTICIPANT
February 17, 2025 at 12:50 pm

Any particular person, then lodge an fir. Name that person.

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[Alphathinker5128]

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Alphathinker5128
PARTICIPANT
February 18, 2025 at 12:59 am

register a complaint in this at this [link](https://crcf.bank.sbi/ccf)

select Raise Complaint – Others >> Personal Segment/Individual Customer // General Banking>>Operation of Accounts>>Disputed Debit/Credit Transactions and mention brief details of the issue in the last column.

This works i did the same i got immediate response

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[Silentsuhani990]

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Silentsuhani990
PARTICIPANT
February 21, 2025 at 5:21 pm

Sbi dude said something verbally. You ‘hanji sir’d’ your way into doing it. Now there is no evidence and it’s your word against his.
No option but to be at the mercy of Sbi for resolution

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