[Resolved]  LIC Housing Finance — Collecting EMI Interest without disbursing the sanctioned loan amount

Address:

Bangalore, Karnataka

Hi, I have been sanctioned loan by LIC HFL Whitefield. The LIC hasn't yet disbursed the amount neither to me nor the seller of the property. LIC HFL officers didn't even inform us about sanctioning of the loan or that they will start the charging the EMI. We were told once we send in all the documents they had asked, they will start the process. But we are yet to send the documents and they have already sanctioned the loan without disbursing the loan amount. But from 2nd Jan 2015, LIC has started charging interest and collecting money from my Bank account. This is totally unethical of LIC HFL to charge interest and EMI without disbursing the loan amount. LIC HFL Senior officers please look into this and help in getting this resolved as soon as possible. Regards, Varsha Bhat