Life Insurance Corporation of India [LIC] Complaints & Reviews

Dear Sir/Madam,

Please send the status of my policy as soon as possible
policy no is[protected]

Thanks & Regards

Ankur Wadhwa

SIR,
PLEASE ISSUE MY USER ID AND PASSWORD TO SEE MY ULIP POLICES NO and STATUS:-
[protected] MARKET PLUS,
[protected] MONEY PLUS,
[protected] MAKET PLUS
AS WELL AS[protected] MONEY BACK POLICY
PLEASE SEND MY USER ID AND PASSWORD TO MY EMAIL ID amit.[protected]@yahoo.com

From: [protected]@yahoo.com <[protected]@yahoo.com>
Subject: Loan A/c 61038251 of Sunil Jacob: Atrocious Operations/Process Failure
To: [protected]@lichousing.com
Cc: [protected]@lichousing.com, [protected]@emiratesbank.com, [protected]@yahoo.co.in
Date: Friday, June 19, 2009, 8:03 PM

Hi,

I have a grievance which I am raising to you for your redressal – failing which I shall approach the consumer court for compensation.

The compensation I would seek would be twice the full cost of the property at market value – for mental agony and financial loss. Please go ahead and make necessary provisions in your books of account for the same.

I am an NRI who has gone in for a housing loan from your dubai office for the concorde manhattans project at electronic city. I was told at the time of taking the loan that the EMI would only start after the full loan amount is disbursed.

I have now received the following email from you after much follow up.

You have not informed us of your change in policy and subsequent decision to not release the payment to the builder.

The builder had demanded payment of the next tranche and we had accordingly authorized you to release of the next tranche of payment.

I am shocked to learn today that the payment to the builder has not yet been released.

I am attaching the email notice from my builder threatening cancellation of the sale agreement as a result of non-payment. This was sent couple of months ago – following which we got in touch with you and asked you to proceed with the payment.

Even at that time you failed to inform us of your policy change, instead you accepted the post dated cheques towards servicing of interest in advance and agreeing to release the payment. You have been adviced thrice so far to go ahead and release the payment and on all occassions you have agreed to do so, but failed.

I do not trust your systems to be able to maintain my loan with integrity and your ability to manage my loan account.

I demand an explanation for your atrocious neglect of duty and your confused state of process and operations and immediate release of the next tranche to the builder.

I would like you to correspond with me through this email id and also if you are to send any notices/letters please send them to the following address.



Sunil Jacob

Senior Manager Projects,
PO 2923
Dubai.




I am also informing you that my POA is now out of Bangalore and hence you are required to correspond with me directly. My POA would continue to represent me for all documentation or court appearances we would need to be present in.


Very frustrated customer of LIC Housing Finance

Sunil Jacob Loan account[protected] please check the loan number ( it was provided by yourselves - it could be wrong )

Enclosed : Mail from the builder :

Concorde Manhattan - Urgent Confirmation - - Search Results - Yahoo! MailYahoo!

Flag this messageConcorde Manhattan - Urgent Confirmation -Tuesday, April
28, 2009 6:00 PM

From: "vijay gv" <[protected]@concordegroup.co.in>Add sender to ContactsTo:
[protected]@yahoo.comCc: [protected]@concordegroup.co.in

Dear Mr.Sunil,

Please read the mail carefully

This mail is regarding the payments due from your end from a very long
time. We have sent you couple of mails, made couple of calls, sent demand
notes to your address and Banker (if bank Financed) but you have failed in
making the payment in spite of all this. Every time we get to hear a new
reason for delaying the payments. If you have any problem, please discuss
it with us.

We are planning to complete the project by next year April 2010. As you
all know very well, we are facing severe financial crunch and in this hour
of need we expect your support by making the payments in time. We have
been very liberal and also extended the time for making the payments. But
still the end result is you have not made the payment till date.

We are paying a monthly interest of Rs. 90, 00, 000/- (rupees Ninety Lakhs)
only towards interest on the project loan borrowed from a reputed
financial institution.

Apart from this we are also liable to make the payments to our contractors
and subcontractors in time so that our constructional activities don’t get
affected.

We agree that there is severe financial problem everywhere to every
individual. But we as a company cannot keep giving reasons for the delay
in construction, delay in making payment to our contractors, buying of
required raw materials etc, the list is endless.

In this crucial difficult times we definitely expect your full cooperation
without which we will not be able to deliver the project as agreed in the
latest meeting held on 11.04.2009.

Even if you ignore this mail, as per the agreement terms we will be forced
to terminate the mutually agreed contract and put the apartment on sale.
And as per the clauses of the agreement, we will deduct 20% of the total
amount paid plus collect the interest component on the outstanding amount
and refund the amount back to you once entire sale process is completed.

Your Total Outstanding is – Rs 343689

You can come to our office and have a discussion with us for any of
your queries related to your apartment or payments. Once again we request
you to read this mail fully and acknowledge the same.

For further details do feel free to call
Vijay G.V.
Team Leader - Marketing
[protected] / [protected]
Concorde Group
http://concordegv.webs.com/
# 46 /A, 1st Main Road,
Sarakki Industrial Layout,
JP Nagar, 3rd Phase,
Near Mini Forest, Next to Park View Hotel,
Bangalore - 560076
Karnataka State
India Country.

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Hi Sir,

Below are the mails received from LIC as well as IOB regarding the 2 chques due for SB in the yr 2003 and 2008.
The details of the policy are mentioned below in this mail.
They have promised me to get back with the reply but to no effect.
I am not being able to trace the cheque which the LIC claims that they have sent it.
The IOB is checking the same as per the mail below, but am anxioisly waiting for their reply.
I will be grateful to get the required help from you to enable me to know the whereabouts of the cheque.

Thanks & Regards,
Manisha A Lala
mob # [protected]





We acknowledge the receipt of your E Mail dated 11.6.09. We have reminded our Mumbai II Regional Office and Pune Branch for necessary action.



Customer Service Department.

Central Office



-----manisha lala <[protected]@hotmail.com> wrote: -----


To: <[protected]@iobnet.co.in>
From: manisha lala <[protected]@hotmail.com>
Date: 11/06/2009 04:48PM
Subject: RE: Policy no.[protected] Complaint no.185699

Respected Sir,

As per the mail below, am yet waiting for your reply about the same.
Please assist me at your earliest.

Thanks & Regards,
Manisha


[protected][protected][protected][protected]
Subject: RE: Policy no.[protected] Complaint no.185699
From: [protected]@iobnet.co.in
To: [protected]@hotmail.com
Date: Mon, 8 Jun 2009 10:23:49 +0530


Dear sir,



We acknowledge receipt of your complaint dt 06.06.2009 and have taken up the matter with the concerned Dept./Regional Office/ Branch for early redressal. You will be informed shortly in this regard. We regret for the inconvenience.



With regards,

Customer Service Dept.

IOB/Central Office.



-----manisha lala <[protected]@hotmail.com> wrote: -----


To: <[protected]@iobnet.co.in>
From: manisha lala <[protected]@hotmail.com>
Date: 06/06/2009 01:05PM
Subject: RE: Policy no.[protected] Complaint no.185699

Dear Sir,

This is in connection with my LIC policy which is a Money back Policy, standing in the name of Manisha A Lala which has been assigned with your bank against our CC for Current Account (of my husbands firm ), bearing the No 1029 in the name of Anil Enterprises, at M G Raod, Camp branch, Pune 411001.
We need your help regarding this Policy as I believe we have not received 2 cheques from LIC as a Money back Return.
As per the mail below I had lodged a complaint for the same and the reply is given as below.
Please can you help me confirming the same because as per the rules of the bank if the policy is assigned then the cheque is sent to the bank directly.
Please help me about the same.

Thanks & Regards,
Manisha A Lala



[protected][protected][protected][protected]

From: crm.[protected]@licindia.com
To: [protected]@hotmail.com
Subject: Policy no.[protected] Complaint no.185699
Date: Sat, 6 Jun 2009 11:26:13 +0530



Dear Sir,
This is in connection with your above referred complaint lodged on our website. Our 95Y Yerawada branch has informed us that they have already settled SB claims under above policies, the details of which are as given below-
SB claim due in the year 2003- Cheque no.52451 dated 24.06.2003 amount Rs.4565/-
SB claim due in the year 2008- Cheque no.602919 dated 30.06.2008 amount Rs.5000/-
Our branch has informed us that above cheques are not appearing in their stale cheque A/c. Kindly therefore check your bank records for the receipt of above amounts.
Assuring you of our best services.
MANAGER (CRM)

REF. POLICY NO.[protected], PLAN & TERM--74-15 COMMENCEMENT DATE--28/05/1994, DATE OF MATURITY[protected].

Dear sirs,

we are not getting payment in spite of our follow up with Agent, Abohar Brnach Manager-With Mr. Sardul Singh.Firstly I didnot recd. the maturity form form the branch again we have arraged the same form other branch and delivered to Mr. Ashok Gilra Development officer . Reuqested to MR. Sardul Singh and he assured to revert back and told the reason of delay that their office madam is on long leave.Now neither Mr.Ashok Gilra is attending is his mobile nor brach phone is being picked up.LIC IS CLAIMING INTEREST in case of late payment but now i will also claim payment with delayed maturity payment interest.

I have an account at licindia.com. i have enrolled few policies there but when i click on View Enrolled Policies link it doesnt show my policies. I registered a complaint on the web and but when i tried to view the status of my complaint using link Complaint Status not showing.

Please do the needful action.

Policy No.[protected]

I could not receive the cheque for 20% of SA as I had shifted from the address mentioned in the policy. Eversince, I have been complaining to the branch via normal mail. Also, I have posted complaints in the LIC site also regarding the same. No reply on it till now.

Regards

Vinod

sir,
my LIC policy no. is[protected] from CBO3 Varanasi. I was receving Rs 600/ per month as monthely income against this policy till March 2009. LIC provided the 12 Post dated cheques to me in every March by postal service. but this year they provided me a letter and form for ECS (electronic clearing service). i have submitted the form withall the information on 11th Feb 2009 by post.
but till today i did not receive any clearance or any payment through ECS in my Bank account., so i wrote aletter to Asstt. Secretary IPP cell NCZO Kanpur for the clearing and payments on 21st May 2009. but i did not receive any response from LIC.
I think, now LIC is also being the bad service Provider for their Custmors.

Dear Sir/s,
This is to bring to your notice that I the (natural successor) "Brij Bhushan Kwatra" H/O late Smt. Promila Kwatra is not getting the renewal commission since long. I have done my level's best to get this sorted out however the CBO-2 Agra office is not paying any heed to my request. I have given various applications regarding this since 21.11.2008.

As there is no reply or any acknowledgement feedback from Agra office, I am hereby forced to bring this to your level so that my request is heard. Please be informed that I am a 73yrs old person and physically unfit and bed ridden.

Also I am informed that there is a life insurance cover for the lic agents which is done by LIC itself as default. Hence please let me know the status for this too so that I get the neccessary claim.

I sincerly request you to kindly help me in this regard.

Awaiting an positive reply from you!


Sincerely your's,
Brij Bhushan Kwatra

sir,
my policy no.[protected]jeevan suraksha)Which IHave
surrendered at:
Branch Shaktinagar,
jwalamukhi plot no. 1
Distt:Sonebhadr(U.P)
>Policy Srrender value Payable=Rs.25271.00
>Branch paid=Rs.17813.00
>Difference= Rs.7458.00.
Pl arrange to pay me the balance amount Rs.7458.00.
Thanks,
Sukhraj Singh(PGD)
Qtr No. F- 6/2
KCIL, Coloney
At & P.O:Renukoot
Distt Sonebhadra(UP)
Pin:231217
Mob No: [protected]

Sir,
I have a tranferable job. When I transfered to other Office in 1997 after that three time I submit the application at Shivaji Nagar Branch to change address. Yet there is no change. Please do the needful.
My postal address as below
" Survey No. 278, Shaniwar Peth,
Talegaon Dabhade, Tal. Maval
Pune-410 506 "

Tanking you

Siddharth Ghodke

Hello,

Its been more than 1 month that I have not recieved any document from LIC Housing Ltd after signing the loan agreement with this finance institution. Loan / File number - 127455. The person I am coordinating with is Prashant Shimbekar. This person is just not picking up his phone since last 3 days. Since last week, I was being told that I will get the documents the next day but till date 15-Jun-09 havent recieved any. These documents were extremely important to me for my allowance to the begin from company which has elapsed today. This is a monthly loss to me of about Rs. 4000 for the next 10 years..

This is an absolute ridiculous behaviour from a Nationalized bank, where the bank just does not inform me about the status of when I will recieve the documents.


Regards,
Gaurav Valecha.

+91-[protected].

...
Flag this messageFW: NON REPLY ALSO NOT ADJUSTED MY PAID PREMIUM AGAINST MY POLICY NO.[protected]Wednesday, 10 June, 2009 3:08 AM
From: "wz_complaints" <[protected]@licindia.com>Add sender to ContactsTo: "BO_939" <[protected]@licindia.com>, "crm_mumbai-do2" <[protected]@licindia.com>, "BO_88C" <[protected]@licindia.com>Cc: "sdm.mumbai-do2" <sdm.[protected]@licindia.com>, "'[protected]@yahoo.in'" <[protected]@yahoo.in>Message contains attachmentsLIC COMPLAINT0001.JPG (91KB), LIC COMPLAINT0002.JPG (80KB), LIC COMPLAINT.JPG (108KB)Sir,



We have received compliant from policy holder regarding non adjustment of premium due 06/2008 paid on 08/09/2008 vide Ch no 816059 in Branch 939 Chembur. LA has attached copy of pass book and confirmation from bank. Kindly go through the same and resolve the complaint urgently. Next premium is due on 19/06/2009. Send copy of reply to us for closure of complaint.



AAO/WZO/CRM





-----Original Message-----
From: Nandini Rani [mailto:[protected]@yahoo.in]
Sent: Tuesday, June 09, 2009 11:29 PM
To: [protected]@irda.gov.in
Cc: wz_complaints
Subject: NON REPLY ALSO NOT ADJUSTED MY PAID PREMIUM AGAINST MY POLICY NO.[protected]



I MISS NANDINI WOULD LIKE TO INFORM YOU THAT I WAS PAID MY PREMIUM OF RS, 21197/- ( 20917/- + 280/- LATE FEES ) TOWARDS MY POLICY NO.[protected] AT CHEMBUR BRANCH 939 VIDE CHEQUE NO .816059 DATED 08/09/2008 AND CHQ. CLEARED ON DATED 12/09/2008 PHOTO COPY OF THIS ATTACHED HERE WITH I ALSO INQURE SO MANY TIME AT CHEMBUR AS WELL AS GHATKOPAR BRANCH 88C ( WHICH IS MY SERVICING BRANCH) BUT THEY ARE NOT REPLY ME ANYTHING ALWAYS SAY WE HAVE NO TIME AND THEY SEND FROM THIS BRANCH TO OETHER BRANCH LASTLY I WAS MADE COMPLAINT ON PHONE AT ZONAL OFFICE AS WELL AS CHAIRMAN OFFICE THEY ALSO SAID THAT THIS IS NOT OUR LOOKOUT WE ARE TRIED TO SOLVE YOUR PROBLEM BUT AFTER 6 DAYS THAT IS ON 09/06/2009 I PHONED TO THEM THEY SAID WE ARE UNABLE TO SOLVE YOUR PROBLEM I SOORY TO SAY THAT I HAVE PROBLEM FROM LAST 5 MONTH BUT NOBODY CAN SOLVE THIS PROBLEM BUT THEY SAID IF YOU WANT TO COMPLAINT AT I R D A NO PROBLEM SO LASTLY I HAVE COMPLAINT YOU SIR



KINDLY SOLVE MY PROBLEM AS EARLY AS POSSIBLE BECAUSE NEXT DUE IS ON MY POLICY IS 19/06/2009

Dear sir,

Policy no[protected]
BOC no- 9134
I regret to inform you that on 01 dec 08, I had purchased a policy from LIFE INSURANCE CARPORATION OF INDIA (LIC) paying Rs 6125 at Kerakat, Jaunpur, Up-222142, Ph-242244. According to plan I had to pay Rs 6000*4=24000/ year but unfortunately LiC has changed my policy and now my policy has benn shifted to Rs 1531/ quarter. Neither they are changing my policy nor they are ready to returning my money. Further, I have deposited my next two more premium since they told me that if you will not pay premium your policy will be dead. Since I had paid Rs 6125, they are not adjusting my next premiums in this money nor they returned my money and seven months have passed. I am a medical representative in a pharmaceutical company in varanasi and used to cover huge area. I don’t get time to go again and again to the bank and when I go there they don’t entertain me. Now I have fed up from all this and wish to close this policy since now I don’t trust LIC. I received my policy details just 15 days back and I had purchased policy in december 08. Please suggest…………..
My mobile no- [protected]
Address- DEOPUR, KANJHIT BAZAR, AZAMGARH-276201

Dear sir, (policy No[protected]
I am last year taken dated -06/06/2008 in one market plus pan at supaul Branch, But next premum due on june, why not Bond paper deleverd my address, kindly send my adddress Bond paper,
than I deposite Next premum


Yours faithfully
Bhubneshwar yadav,
ward No-19, supaul,
(Policy No[protected]

I have an exciting home loan since October/08, requested in writing not to start my EMI for six month only, Given my re request in April in writing, via mail, verbal too to Gurgaon branch, also had word their RM Mr Mahender too, no one listening my request, don't know what to do, where to go to commence my EMI

Please help me

Madhukar jangra
ph- [protected]
Loan file no 42452

Dear Sir / Madam,

I had applied for a home loan to LICHFL in March'09 end, which was sanctioned on 21.04.2009 under File No. 509264. The last date for the Sale Agreement got over on 15.05.2009. But till that date, the Loan Amount was not disbursed. A numerous follow-ups were done to get the loan disbursement on time and infact I had to sit at their office practically for the whole day. However, all my sincierest of efforts...

Dear sir,

I am one of agent of LIC. When we tell about our IVRS system to client, they r happy, but when they try for IVRS our system cannot ggive proper answer. I am from bhandara br.
Please this system should be give proper information to clients. And this very useful for agents too.
Thank you]

Your faithfully

Ganesh Kukwase

Non refund of Processing fee

Non refund of Processing fee
I have applied for Home loan transfer from HDFC to LICHFL after confirmation from LICHFL Indore that the interest rate will be 8.75%.So i was interested in switching from 10.5% of HDFC to 8.75% of LICHFL but when i submitted the processing fee of Rs. 5512 to lichfl then they given me loan sanction letter in which it is mentioned that ROI after 3 months will be PLR-2.75% current PLR of lichfl is 13% so my effective rate would be 10.25%.All the communication from LICHFL to me was verbal & now they are not refunding me my processing fee which i feel has been taken fradulently by hiding facts about correct interest rates.I have done some mails enquiring them before application in which i hv mentioned rate 8.75% and my interest only if this rate is given to me for this I got verbal confirmation and was told to submit processing fee again commiting to refund if loan is not taken by me now i don't want to switch on 10.25% interest rate and LICHFL is telling not to refund it.An agent of LICHFL is also involved along with LIC officers is also involved in my loan transfer processing who has cheated & taken the cheque of processing fee in favour of LICHFL.Now he's telling that the amount is with LICHFL so you take ur processing fee directly with them & lichfl is telling that they can not refunf the processing fee as being non refundable.Kindly guide & help me getting the processing fee and please put my query in your website so that others are not get cheated by LICHFL.My loan file no is 215354.

Persons who cheated me are as follows
Agent - Sushil Mantri Indore -[protected]
& Aadesh LICHFL Mktg -[protected].

LIC Housing Finance Ltd Indore
Posted:[protected] by Nilesh Kothari Send email


Non Refund of Processing Fee
Please help as I am not getting Refund of my Home loan processing fee from LIC Hosing Finance ltd.

Agent sushil mantri has taken the processing fee of Rs. 5512 saying that it will be refunded back to you if you do not take loan from LICHFLdue to any reason. Its only because of his repeated verbal confirmation I have given him the cheque of processing fee.

Please go thru the following mail to understand my case in which both agent & marketing people of LICHFL has hided the fact of actual rate of interest applicability after 3 months of disbursement of loan from 8.75 % to 10.25% (LHPLR 13%-2.75% spread).

I was given verbal information of ROI to be 8.75 % but I don't have this confirmation in writing from these people that ROI is 8.75%. These people have always talked on phone and there is no single mail or in writing any communication from their side until I have given the Processing Fee cheque.

When sanction letter is issued to me only from that letter & terms conditions booklet I came to know the above underlined fact Now these people are refusing to give the processing Fee back to me.

I feel to be cheated by LICHFL staff & their Agent so kindly help me in getting the Refund.
[protected][protected][protected][protected][protected][protected][protected]---...⇄

----- Forwarded Message -----
From: "Nilesh Kothari" <nilesh.[protected]@zmail.ril.com>
To: [protected]@airtelmail.in, [protected]@sancharnet.in
Cc: "nilesh" <[protected]@rediffmail.com>
Sent: Monday, May 18, 2009 1:36:25 PM GMT +05:30 Chennai, Kolkata, Mumbai, New Delhi
Subject: Refund of Processing Fee Rs 5512 - File no 215354

To,

Mr. Aadesh & Pradip Chakrabarti
LIC Housing Finance Ltd
Indore.

File No. 215354
Agent - Mr. Sushil Mantri

Sub : - Refund of Initial Processing Fee of Rs .5512/- under scheme Griha Prakash

Dear sir,

As discussed with you please find my application for Refund of above Processing Fee being taken by not clarifying the Rate of Interest & wrong commitment (Refund will be given in case of Not taking Loan from LICHFL) of your Agent Mr. sushil mantri.

This is with reference to my application dtd 07.04.2009 under Griha Prakash scheme for Transfer of Home loan from HDFC bank to LICHFL. I have applied for this loan transfer only considering benefit of Interest to move from 10.5 % of HDFC to 8.75 % of LICHFL (as committed by LICHFL officers).

Prior to this application there was verbal confirmation by Mr. Sushil Mantri to me that Rate of Interest for the transfer will be 8.75 % in my case and he did not tell me that this 8.75% rate will be only for the first 3 months and later ROI will be LHPLR - 2.75 % i.e 13-27.75 % = 10.25 % as per clause 2.2 (a) of the terms & conditions booklet. The same has also not been communicated by Mr. Aadesh also when I was submitting my documents to him during the first week of April09 . If this information is known to me during my correspondences & verbal communication with sushil Mantri & Aadesh then I would not have applied for the transfer on 07.04.09.Since there is a clear cut loss with the above figures of ROI in transfer from HDFC to LICHFL and if timely informed I would not have even applied for the transfer of loan. Pls see the trainling mail in which I have enquired with Mantri for benefits arising of transfer to LICHFL in 20 Yr & 15 Yr option and my interest in going with 15 Yr option otherwise not to take the loan with LICHFL.

The Loan sanction letter mentioning the ROI after 3 months as LHPLR - 2.75 % as per clause 2.2 (a) in the booklet is provided to me only after I have given initial processing fee cheque of Rs. 5512/- in favour of LICHFL through Mr Sushil mantri. If this was informed to me earlier I would not have given the processing Fee. Moreover the processing fee cheque has been taken with wrong commitment of Refund in case of not taking loan.

When I talked to Aadesh hes telling to claim money from Mr. mantri & when Ive spoken to mantri hes telling that money has been deposited in LICHFLs account and I need to directly take it from them.

My money is unnecessarily being blocked with LICHFL on account of not providing Information and wrong information providing for processing the loan.

So I request you to please Refund me my Processing Fee of Rs. 5512/- at the earliest.

Thanks & regards,

Nilesh Kothari
55-G, Sector 21, Reliance Greens new Township, Moti Khavdi, Jamnagar -361142
Ph [protected],[protected], 40 14675, [Indore [protected], [protected]]

----- Forwarded Message -----
From: "Nilesh Kothari" <nilesh.[protected]@zmail.ril.com>
To: [protected]@yahoo.com, [protected]@yahoo.com
Cc: "nilesh kot" <[protected]@sify.com>
Sent: Monday, March 30, 2009 10:13:53 AM GMT +05:30 Chennai, Kolkata, Mumbai, New Delhi
Subject: Calculation of Total repayment in HDFC & LICHFL

1) Current Outstanding balancewith HDFC - 2963454/-

EMI - 30460 /-
Expenses in changing ROI to 10.25 % - Rs. 16299/-
Prepyament of Rs. 103701/-
Total Expenses Rs. 1, 20, 000/-
Net Outstanding Bal - 2859753/-
Total repayment to HDFC - 187*30460 = 5696020/-
Previous year repayment in HDFC = 363000/-
Net Expense with HDFC - 5696020+363000+120000 = 6179020

2) Loan of 20 yrs with LICHFL @ 8.75%

Minimum Swithcover cost Rs. 1, 20, 000/- (90000 penalty to HDFC+ 1% proc fee & stamp duty)
EMI for 20yrs for Out bal of 2963454 is Rs. 26189/-
so total repayment - Rs 6285360
Net Expenses in repayment & switch = 6285360+120000 =6405360

3) Loan of 15 yrs with LICHFL @8.75%

Minimum Swithcover cost Rs. 1, 20, 000/- (90000 penalty to HDFC+ 1% proc fee & stamp duty)
EMI for 15yrs for Out bal of 2963454 is Rs. 29618/-
so total repayment - Rs 5331240
Net Expenses in repayment & switch = 5331240+120000 =5451240/-

Now after comparing case 1, 2 & 3, I have to take loan for 15 Yrs with ROI 8.75% with LICHFL then only there will be benifit to me otherwise as per Ist case my total repyment is lesser.

Please confirm it by today evening since I need to take decision for Switchover to LICHFL or change the ROI of HDFC & prepay them.

Nilesh Kothari
[protected], 29416
[protected]