LIC Housing Finance - Interest rate not changed during Floating Period
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Complaint by: Dominic Sathiyan on January 28, 2017, 2:32 am in Insurance All

My LIC HFL Loan Account Number : 540100007530. Sanctioned Amount 2810000, when I took the loan I have chosen Fixed rate for first 2 years for 10.1 % interest rate.Now the rate is showing as 11.7% (Floating) against my Housing Loan.As per LIC HFL revised interest rates w.e f 26.11.2016 - Last updated as on 26 November 2016 for interest type of Floating the interest rate would be 9.20%
When I complaint this to LIC branch office they asked me to do below
All loan applicants' have to give

1. A request letter signed by all loan applicants

2. Copy of photo ID & address proof (Originals will be required for

verification) of all loan applicants.

3. Promissory note(format available with LICHFL) to be affixed with Re 1

Revenue stamp and signed by all loan applicants'

4. Rewriting (format available at our end) letter to be signed by all

loan applicants'

5. Payment of Rs. 1150/- (1000+S.Tax) for rewriting charges has to be made by DD in favour of LICHFL

Why should I pay again 1150 DD for this.? Its totally wrong.they have to change the interest rate as per RBI declaring before 3months.

All banks are by default changing the interest rate if its ECS.. Why don't LIC HFL do it the same way and keep on burden the customers.?

Kindly don't redirect me to the home branch which I took an Loan.I have mailed n number of times and got few delayed response.

Please do the needful by changing the appropriate rate against my Housing Loan.

Complainant's Goal: Change the interest rate as per the LIC HFL revised interest rates (RBI)
Complainant's Target: LIC Housing Finance
Complaint Location: IndiaTamil NaduMadurai

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Recent Comments
3.
3 months ago  Anup Yadav

A/C 610900003902 ; same thing happened with me as well. I have completed the requisite details and paid the amount also.
This was not highlighted to me at the initial stage. Further, to my surprise after completing the same formality still have been charged as per the high interest not the revised one.
I have got no intimation through SMS,email or call for the same. I have already escalated this to branch in Thane Mumbai however no response.

Can you help, i have paid additional amount and no one is bothering to even reply.

Thanks,
Anup
9702082986

2.
3 months ago  Sunil

Same problem with in my case but not any solution really all they are making fool of their client .it's gives their wrost response I never suggest that the lone from LIC Finance company. It's my experience it's customer feedback policy is also wrost.

1.
3 months ago  Sunil

U r rt . Same problem with in my case but not any solution really all they are making fool ft or their client .it's gives their wrist response I never suggest that the lone from LIC Finance company. It's my experience it's customer feedback polish is also wrist.