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  Friday, 28 September 2012
  9 Replies
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Hello, What is Suraksha Scheme of HDFC Bank for Car Loan. My dealer pitching it to me unnecessarily without even knowing the benefits and what the scheme all about. Its increasing my EMI. Any suggestions about it
10 years ago
Hello Rohtash,

HDFC Suraksha scheme in layman terms is an insurance cover on the loan amount.
The Suraksha is a product of HDFC Ergo - the general insurance division of HDFC

To the best of our knowledge - The premium amount is dependent on age and couple of other factors and banks generally fund the Suraksha premium amount.
Typically it ranges at 1% of loan amount (for a person aged 35 years). So say for loan of 4 lac Rs, your EMI will increase approx by Rs. 70 per month across loan tenor for having that Suraksha cover on the loan amount

It covers some clauses wherein in event of mishap - the insurance company i.e Ergo will make the payment to bank
For fine terms, conditions and clauses - pl speak to HDFC Ergo for same
5 years ago
Is this compulsory to take this policy when taking a car loan for a new car from HDFC BANK or is it optional to take

Please reply me asap
5 years ago
It's completely optional but bank sales people force you to take it. I had the same experience with icici recently. They were charging 185 rupees per month for this 'suraksha kavach'. Just tell the person it's your life, your car and you are not interested in this scheme. Don't worry nothing happens to your loan sanctioning. They are just trying to cross sell a product to meet targets. Firmly say no (don't be polite, if needed)and they'll leave you alone.
5 years ago
First of all thanks for this information, they are including the policy amount plus the loan sanctioned amount and for this i had to pay the extra 9754/- rupees extra for the 6590/- is the pricing of this Car Loan Suraksha program of this so called HDFC BANK. I had opt out to include this amount in loan program but i had to give another cheque of Rs 6590/- favouring HDFC ERGO bucaue they told me without this the bank doesn't sanction the loan.
The bank personals just loosen our pockets for this kind of waste things. If you had any idea about this suraksha program what is for then please let me know....
5 years ago
it covers all kind of death ?
5 years ago
Sir I want to know is it compallusarry To take loan suraksha insurance b coz my brother in law expired and he have Hydra mashine he is only 29 year old plz help us he rake refinance from a finance company plz help my no 9053522016
4 years ago
HDFC person from rana motors prashant vihar unnecessarly pasted me this policy of loan suraksha saying it is very useful.but now after 4th month i havnt got any document regarding this matter. I want to cance it please suggest me a way..
3 years ago
Dear sir
I m salary paid employee and I taken car loan from hdfc bank against salary.
Now company is planning to terminate me from job.
So can i intitle for loan waveid off for certain until new job.

2 years ago
Dear Surkasha team iam glad to infrom
About car loan Surkasha policy., in July 2020 iam taken new car delivery loan done in HDFC bank, at the time of agreement bank person was not intimate
About Surkasha policy ,recently my father was expired, I need of Surkasha policy ,and bank employe also not resonse seriously taken action regarding this issue
Thanking you sir
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