[Resolved] LIC Housing Finance Home Loan — Very unprofessional

Life Insurance Corporation of India [LIC]

[Resolved] LIC Housing Finance Home Loan — Very unprofessional - Refund my processing fees

R R Agrawal from Noida, Uttar Pradesh Dec 24, 2009

I have a similar experience with The LIC Housing Finance I had a home loan sanctioned from LIC Housing Finance on 22 Jan 2009, at Pune (Baner Office), however without giving any reasons, after a year they have returned my file and not returning the processing fee of Rs. 5700 According to Mr. Mayuresh Limaye(The branch manager) my loan was never processed for unknown reasons. He is the most irresponsible person I have interacted with so far. While my file was with him, he never use to update me the status of my home loan file number 700472. He tried to ignore my calls and never replied to my mails either. Suddenly one day he told me that my loan cannot be processed without giving me a proper reason. On the contrary other public banks have disbursed the loan to the same buolding where I have booked my flat. It was tremendous time waste and hassle running behind these people for the status of my file. I have submitted an application for reimbursing my processing fee. Again these people are not responding to my calls when I try to call them for the status of my application. Pune branch manager Mr. Mayuresh Limaye has been ignoring my calls, and emails regarding the reimbursement of processing fees of my home loan application that was never processed. This Mr. Limaye never took or returned my calls regarding the status of my home loan application, though he charged me a processing fee of Rs 5700, later he returned my file without providing a reason. He is yet to reimburse my processing fees. PLEASE DO NOT APPLY FOR LOAN WITH THESE PEOPLE. Consequences: 1. The bulider is saying they will charge me penalty for late payment. 2. I need to repay the processing fees to another bank to get my loan sanctioned. 3. It is a tremendous waste of time and money running around these people (LIC Housing Fin ) for the status of my file and now the reimbursal application. Was this information helpful? No (0) Yes (0)
Aug 14, 2020 Complaint marked as Resolved
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Comments

unknownn

from Pune, Maharashtra

Mar 22, 2010

LIC is a big fraud as far as processing fees are concerned.
Their agents will promise you something and once you apply they will not keep their words and ask for more processing fees.

Lalit Soni

from Mumbai, Maharashtra

Apr 14, 2010

I have had a similar experience. Even though i was assured of a loan from LIC housing by my agent. They somehow kept asking for more and more documents, which i even gave them. But eventually i never got my loan and for this i even lost the deal which i was had. Now the agent is dilly-dallying on the refund. Does posing a complaind do any good. If yes then i would certainly post more details here.
If LIC has no intentions of disbursing a home loan, why do they even float a company for it. Is it just to make profit through the numerous loan requests and the processing fees. This is highly unprofessional and unethical, for a government owned organisation to get into such a derogatory practice.
I hope someone reads this article and assumes responsibility for ensuring the aggrieved receive the refund alongwith charges for mental harrassment that LIC is causing to public.