[Resolved]  LIC Housing Finance - Housing Loan — Interest Rate change in 3 months

I have taken a home loan from LIc for 13.85 Lakhs for buying an apartment in Trichy. My loan was sanctioned at the rate of 9.75% (floating) by Madurai Area office of LIC which was sanctioned in the Month of Jan 2009. I was shocked to learnthat the rate of interest has been increased to 10.25% in April, while all banks and other institutions have reduced the interest rates.

The Compnay had lured me to buy their product by 'showing' the lower interest rates but increased the same within 3 months.

When I contacted LIC Area office there is no proper reply from LIC.

Sathiyamoorthy Iyer
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