Life Insurance Corporation of India [LIC]

LIC HFL — Looting existing customers

gopakumarkv

from Hyderabad, Telangana

Address:

Bangalore, Karnataka

I have taken a housing loan in Dec 2009 @8.9% and it continued for next three years as offred.After 3 years the interest rate shoots up to 12% and it is much higher than what other new gwn banks like AXIS, HDFC etc have been charging at a floating rate.My EMI increased more than 10%.Also LIC HFL did not pass over the REPO rate reduction from RBI also.Now banks like AXIS and HDFC floating rates are arround 10.5% for their existing customers and LIC HFL is looting their alreday existing [protected]@12%.LIC HFL should do justice to their present customers.Think 10 times before approaching LICHFL for home loans.

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Comments

Samthvar

I am also experiencing the same; they are worse than local money lenders doing ' kanduvatti' business ( loan sharks ); nowadyas they are engaging ' gundas ' (goons ) in Chennai Saidapet office to make calls to you for repayment delays even though there are all property guarantees and they collect heavy penalty for delays; may be somebody in the LICHFL management looting money in the name of payment to these rowdies for collection. They are just not bothered for customers, like the old days when LIC harassed all their customers.