[Resolved]  LIC Housing Finance — Clarification of interest rate on housing loan under griha prakash scheme

Address: Visakhapatnam, Andhra Pradesh

Dear sir,
I had opted for a home loan on 23 jul 14, in lic hfl at dwaraka nagar branch, visakhapatnam.

The loan was processed vide application no[protected] and sanctioned on 31 jul 14 for rs. 12, 75, 000/-. And the loan term is 180 months. Under griha prakash scheme.

As per para 3 of sanction letter ibid, the current licplr is 14.50%.
The rate of intrest for 1-24 months is 10.10% and 24-180 months is stated that "linked to the then prevailing licplr(Sbject to periodic review).


The inrest rate of 10.10 % for 1- 24 months is very clear. However the rate of intrest after 24 months in not clear in the sanction letter.

The rebate of 4.4% was given to me based on the current licplr for first 24 months. ( 14.50% - 4.4% = 10.10%). And rebate was not indicater after 24 months.

My question is what will be rebate for me after 24 months based on then prevaiing licplr.
Can i assume, will i get the same 4.4% rebate on then licplr(Periodc review),

The following is requested ;-

Please clarify and confirm, what will be rate of intrest for the term 24 to 180 months,

Or what is the logic for caliculating the floating intrest rate after two years.

It is further submitted that, i had a personnel discussion with smt vijaya sress, area manager lichfl dwaraka nagar branch, . She is unabale clarify the issue, and directed me contact lifhfl at website.

Requet relsove the issue at the earliest, view documentation of the loan is held up

Regards and awaiting for early response

Seeta rama raju mandapati,
Mail id : [protected]@gmail.Com