[Resolved] Lic Housing Finance Ltd. — Fraudulent interest rates and EMIs | |||
My name is Vivek Pandey. I have a home loan from LIC Housing Finance Ltd. with loan number[protected]. I have a loan of 32.5 lakhs and my EMI started in July'2012. The interest rate on which I was given the loan was 10.4% floating. But after 3 months my interest rate was shooted up to 11.9% and my EMI increased by about 1700 INR. I tried to get clarification from LICHFL but they just said that the ROI has gone up which is a foolish statement when the Government is announcing reduction in Home loan interest rates. The payment schedule I was given at the beginning mention an EMI of 32270 for 12 months but without any information it was shooted up to 33900 after 3 months. This is completely disgusting and a matter of fraud by a govt. led institution like LIC. Please consider my case as urgent and help as I feel befooled by LICHFL with no satisfactory clarification from their side. Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 1 Comment | |||
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![Life Insurance Corporation of India [LIC] Phone](/img/bn/phone.svg "Life Insurance Corporation of India [LIC] Phone"){kind=small}
+91 22 2217 8600
+91 75 5267 6254
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LIC Central Office, 2nd Floor, Jeevan Bima Marg, Mumbai, Maharashtra, India - 400021
I experienced the same.Loan was offered to me at 10.4% interest. After 3 months, they revised interest rated to 11% when all banks reduced ROI. They are not replying to mail. When I discussed over phone, I was told that they are not governed by RBI and10.4% interest rate was offer rate for new customers. Still facing the same issue.