Life Insurance Corporation of India [LIC] — Unauthorized ROI Reschedulement charges by LIC HFL along with loan EMI even after earlier payment and very very poor customer service

Address:

Kolkata, West Bengal

Dear Team,

I am raising this second complain against LIC Housing Finance Limited (LICHFL). Please find the details below.

I am having an ongoing loan from LIC HFL with no dues. I have availed the moratorium facility (as per RBI guideline). Prior to my last complaint and till July 2020, I was paying the rate of interest as 9.9%. I had to pay additional Rs.5900 as Reschedulement charges for a Change of Rate of Interest. On 6th August, 2020 I had paid the said amount(Rs.5900) as Reschedulement charge to LIC HFL to Change ROI. I had received an auto-generated receipt as a successful online payment of the same. But there was no description or particular of the payment in the receipt, I received. Presently I can observe that the rate of interest has been reduced for me from 9.9% to 7.95% as per the information present on my LIC HFL Portal dashboard.

After the moratorium period got over, when I tried to pay my September 2020 EMI via online portal, I was asked to pay the Reschedulement Amount(Rs.5900) again along with the EMI amount. This is rather injustice. As a result I took the below steps and tried to reach them for an explanation but in vain.

- Since Sept 12th, I had dropped at least 10 emails(from my registered email id) to LIC Customer support team and even to the Area manager. Till today I have not received any reply or response from them regarding the issue.

- I tried to raise a Service Request(through LIC HFL portal) but the same has been disabled by LIC HFL without any reason.

- I tried to reach my LIC loan agent and he somehow managed to make me talk with someone(may be from the collection team) and his behavior is extremely rude with no intention to help. As per him, the Reschedulement Amount I paid on 6th August, was wrongly accepted by LIC HFL and the same has been added as a loan Interest payment. He even sent me an updated ledger copy of my payment but nowhere it was mentioned the paid amount of Rs.5900 was deducted as Interest payment. I asked him to send me the total interest outstanding amount before and after the day I paid the amount, so that the difference must reflect the amount of Rs.5900. In reply he ordered 'I can't help you, you have to come to LIC HFL office and discuss' and his way of speaking was extremely rude as if the fault was from my side.

- I even asked my agent and that collection guy to let me know any other person who can help or provide any escalation matrix. But till date I have not received a reply from them.

- As per suggestion from my LIC agent for activation of NACH services, I had already sent 7 cheque leaves(via courier service) mentioning the EMI amounts to be paid(for the next 7 months starting from Sept, 2020) to LIC HFL. Till now the NACH has not been activated yet. As per LIC HFL, the NACH can be activated only after this present issue resolves. But I am seeing no lead from LIC HFL till date to resolve the issue, which was their fault only.

Due to this Covid-19 situation and being in home isolation(due to one of my family member's positive test result) I asked their help, but still I did not get any response and getting false excuses in spite of the fault being at LIC HFL end only. Because of this illegal charge from LIC HFL, I have not paid my Sept 2020 EMI yet hoping they will resolve the issue and waive the additional charge of Rs5900. Now the October EMI will also line-up as unpaid. This is affecting my CIBIL score on a daily basis. When I tried to seek help from LIC HFL they are saying 'It's your problem, not ours'. This is real injustice from LIC HFL. May be alike me, lots of other customers are also facing the same issue and LIC HFL is earning in this illegal way.

I don't know why I took the loan from LIC HFL. It is the most third class company with zero customer support and illegal charges against floating loans. Please take serious and necessary action against LIC HFL at the earliest.

Thanks.