LIC Housing Finance — BSNL for telephones, LIC HFL for housing loans in Bangalore

Address:	Bangalore, Karnataka
Website:	www.lichousing.com

Bangalore, the IT Hub which has lots of public sector institutions which don't know the meaning of IT and its importance. I had taken a home loan from these guys as advised by my builder and since the project is approved by LIC. These guys go all above and beyond their way to get your loan sanctioned and also ensure that there is a quick turn around. Even the money collection process is easy with best interest rates. Off late I started realizing with this company is "All that glitters is not gold". They don't appreciate your payment record when applying for any kind of topup and as per their wish change the rules. In case of any queries, the customer is expected to contact the branch rather than they contacting the customer for any queries which they have from their end. I now have applied for a take over of my loan from LIC through another bank and these guys do not accept an authorization letter. So they expect an employee to take multiple leaves just to get a small additional loan for every document submission or retrieval. Please stay away from this institution and go with some other bank even if the interest is higher than this institution.