Insurance Bundling
Lenders often imply that your loan will be rejected unless you buy their “Loan Protection Policy”. The truth? In most cases, it is voluntary, and the bank is simply chasing a massive commission.
- The Interest Trap: If the bank adds a ₹2 Lakh premium to your loan, you aren’t just paying for insurance—you’re paying interest on that premium for the next 20 years.
- Credit Shield vs. Term Plan: Bundled insurance usually only covers the bank, while a standard Term Plan covers your family and is often 50% cheaper.
Watch this video to learn how to say “No” to unnecessary bundling and protect your family, not just the bank’s balance sheet.