Life Insurance Corporation of India [LIC] — Fraud high interest charged, despite the sanction of lower rate

Address: Lic Housing Finance Cd-103, Aggarwal Chamber, Delhi 110034 Phone 022 2217 8600

Respected Sir/Madam,

I, Tarun Gupta, took a home loan from LIC Housing Finance Ltd. (Loan Account Number:[protected] for an amount of ₹39.5 lakhs in June 2024. As per the sanction letter and the terms agreed upon, the interest rate for my loan was set at 8.5%. However, I am currently being charged an interest rate of 8.75%, which is contrary to the agreed terms.

Upon inquiry with LIC HFL and as referenced in NHB (OMP3065/2024 :[protected], I was informed that this discrepancy occurred due to a technical error in their system, which updated my interest rate incorrectly to 8.75%. I was assured that the issue would be resolved promptly, and the rate would be corrected to the agreed 8.5%. Unfortunately, it has now been over six months, and despite repeated follow-ups, the issue remains unresolved.

I have sent numerous emails and contacted several LIC officers regarding this matter. Regrettably, not only have I received minimal to no response, but in some instances, the officers have responded in a dismissive and harsh manner, creating a threatening environment for me and my family.

The officers I have contacted include but are not limited to:

Ms. Manisha Chopra (MANISHA.[protected]@lichousing.com)
Ms. Teja Ray (TEJA.[protected]@lichousing.com)
Mr. Satpal Singh (SATPAL.[protected]@lichousing.com)
Ms. Sonia Vats (Sonia.[protected]@lichousing.com)
Mr. Naresh Kumar Bansal (nareshkumar.[protected]@LICHOUSING.com)

This situation has caused me immense mental distress and financial strain. As a common citizen, I am deeply concerned about the lack of accountability and transparency demonstrated by LIC HFL in resolving this issue. I humbly request the Consumer Court to take necessary action and direct LIC HFL to correct my loan interest rate to 8.5% as per the original sanction letter and refund any excess amount charged.

Note: I also contacted NHB and they have also confirmed that the rate should be 8.5% COMP/3065/2024
Your intervention is my last hope for justice in this matter.

Thanking you,

Yours sincerely,
Tarun Gupta