Lic Housinf Finance — Interest rates of LIC Housing finance and service

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Chennai, Tamil Nadu

I have been a builder and also have taken loan from LIC Housing finance. All customers and builders are scared of LICHFL due to their arrogant ways of dealing and when I proposed LICHFL to some customers, they were scared and even prefered public sector banks to LICHFL. I found their scare justified, when I had to deal with their arrogant lawyers and office staff at Chennai, when I went to submit documents for one of my clients. Most of them are from one part of India, suggesting extreme nepotism and poor working culture which affects the customers. Also LICHFL has not reduced interest rates inspite of RBI reducing rates and all banks following suite. Is LICHFL is in India or in some African country where interest rates are above 20%. May be they may increase the interest rates now. Their commissions to their agents are a whopping amounts and all this at the cost of their customers and reminds me of the days when LIC was a monopoly and treated all their customers with scant respect and made them beg. Also nowadays they are engaging strong arm tactics engaging local goons to collect instalments, by threatening telephone calls, even when there are enough property guarantees are there and you pay exorbitant penalty for delay. May be somebody in the management is exploiting the sitution to make money?? In my opinion, only absolute stupid fools will go LICHFL. Will our new Govt take note before it is too late.