Dena Bank offering loan cover in association with USGIC insurance company
By Neelima Shankar
Jul 8, 2014
Print    Email    RSS   

Public sector Bank - Dena Bank has decided to work with Universal Sompo General Insurance Company. In order to keep a check on the loan misconducts and to provide the loan insurance cover to the borrowers the bank has decided to work with the insurance company.

It has been reported that in case the borrower is unable to pay the loan because of the mishaps, such as major illnesses and medical procedures, accidental death and permanent disablement, loss of job, fire mishap etc the USGIC policy will pay the EMI of the loan of the customer for three months.

Chairman and MD of the bank stated that the policy will help the bank to save on provisions that it would otherwise have to make if the borrowers are unable to service the loans. The main advantage of the policy is that it eliminates the user tension of risks arising from the inability to repay loans due to unavoidable situations.

This loan secure cover is available on education, auto, and home, personal and other loans. The minimum insurance policy period is one year and maximum three years, renewable thereafter.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Education Loan for B-Schools
An insight into education loan schemes for...
Claim tax deduction on education loan
Carnival of Indian Personal Finance Blogs #4
This is how a bank lends money

ROPAR: CaℒL Giℛℒ In Kurali 09855660911...
Why Pitampura Tutors (Ph:- 9911742311) & Private...
kala jadu in hindi 9636854282

Banks to look forward to hire students from IIT/IIM Feb 18, 2015
Union Bank of India hiring for the post of specialist officers Feb 16, 2015
Canara bank launched scholarship Scheme Feb 13, 2015
AXIS bank started ‘My idea of progress’ Campaign Feb 12, 2015
RBI inviting applications for the guard post Feb 11, 2015
News Archive