LIC Housing Finance — Higher interest rates in housing finance for existing customer

Address:

Jabalpur, Madhya Pradesh

I have opted for 3yrs fixed interest plan for finance on july 2012. Interest rate applicable on it was 10.7%.

Account Number:[protected]

Now when 3 yrs are completed and current market interest rates are way down than 10.7%. I have called the jabalpur branch ( from where it is sactioned) @ the number present on website. Person there first of all not giving me the details o asked like:
New applicable interest rate? And misguiding me by saying yes for new lower rates you have to apply via application and you have to pay 0.5% of processing fee for that. Then ur rate will be 10.5%

When i repaetedly asked for required information and enquired why application and processing fee for the same. He (area manager) transfered my call to accounts department after long discusion with the accounts guy he informed me that are still is on fixed interet rate and will convert in flex plan next month august and after stressing a lot he said new rate will be 12%.
What is this !!!

I asked how it will be implimented as RBI rates are way low to this and as per guidlines rates should be lowet than 10.7 for now.

He said all these interest are for new customeers for existing you have to give 12% once you falls in flexi plan next month.
Else pay 0.5% of existing outstanding principal and then take 10.5% interst ratea for next 3 months and after that as per RBI changes we will change it in reduced way.

It is totally a case of mis guiding customers and providing wrong information.
And at the same time there is a discrimination between new and old customers. Its a fraud. As per NHB notice no HFC can discriminate between new and old customer.

Please look into this issue and reply as soon as possible.
Else i will tranfer it and lodge a complaint legally