[Resolved]  Lichfl — Not sharing important information

Address:

Udaipur, Rajasthan

Dear Sir, I am writing this mail to you to tell you about our pathetic experience with LIC Housing Finance (Udaipur) for the Loan of our newly purchased flat. We had given preference to LHF over other banks and decided to take the loan from it. Earlier, the staff person was very cooperative. He came to our house myriads of time for documents and timely gave us a call if anything else was required. The details of the loan are as follows: Loan Amount: 2400000/-Rs Rate of interest: 10 % (for Female) (Fixed rate for 3 years and Floating after that) Processing fees: 7500/- Rs Date of submission of all the required documents: 31st August 2013 (All document were submitted and processing check of around 1200 Rs was also given) Well, after this we were told that the loan will be processed easily and we have nothing to worry about. We asked this to him that what if the rates increases in next few days. He answered that you don’t have to worry and your case is valid for whole September even if the rate increases, your case will remain the same. We were happy and thought that our loan would be soon processed without any problem. They started doing their work. Due to some machine problem at their end they could not send our file on time. (This is none of our business) Any explanation for this??? Now, the scene is that a circular came on 4th Sep 2013 regarding the increase in Rate of interest from 10% to 10.35 % but they didn’t bother to tell us about it. The rate was increased, the processing fee was increased and the tenure was decreased from 3 to 2 years. But nobody informed us. On 13th Sep, we called the agent (who was doing our work). He came to our house for taking the agreement to sale. To our shock, the rate of interest in the paper was 10.35% . Till that time also he didn’t bother to inform us. He didn’t even tell us about the increase in processing fee and change in tenure. We only came to know about this from the office when we went there to meet the manager personally. We didn’t go to any other bank and missed their schemes at that time since LHF had given us a better scheme. Now we are in no man’s land. We have no way out. They have increased the rates and other banks too. Now who is going to bear this loss? Due to your poor service and delay in work we are facing such a big loss. This is ridiculous. For a middle class person a difference of[protected] matters a lot. You have left us in midway. WE are deeply shattered by such a behavior. We didn’t expect such a treatment from a big name like LIC Housing Finance. I want an answer. I am not going to leave this matter without any result. We want our compensation for the loss. We are not going to suggest LHF to anybody in our life. I am going to raise this issue everywhere possible. You won’t understand the bas phase from which we are going due to this. This is completely unacceptable. Please revert as soon as possible. Regards, Kusha Soni