[Resolved]  Reserve Bank Of India [RBI] — Undue charges recovered against housing loan a/c no.[protected] by lic, housing finance ltd jabalpur (m.p.)

Address:

482001

In reference to the above loan account, following few points are brought into your kind notice regarding excess charges recovered against housing loan account no. [protected] borrowed from lic housing finance ltd., jabalpur –
1. Loan account no. [protected] was sanctioned on 31.03.2016 with no upfront fee charges under the ‘mahila scheme’.In this regard, following remarkable points is placed before your for kind perusal -

 any housing loan sanctioned by lic hfl is valid for the period of three months from the date of sanction.

 this was clearly mentioned in terms of condition of sanction letter that no upfront fee is payable.

 this was not mentioned in the sanction letter that upfront fee is payable before the usual validation period i. E. Three months.
When i met with lic representative at jabalpur within the stipulated period of three months for further processing the case to disburse the loan amount then surprisingly i have been told to pay the upfront fee. However i tried to make him out that when any loan sanctioned is valid for the period of three months and i came to you before this specified period, how can this be payable the upfront fee but it went to vain and i have to pay the upfront fee. Second sanction letter mentioning the same date i. E. 31.03.16 issued in which upfront fee has been taken. (Copy of the both sanctioned letter is enclosed herewith for your kind perusal.)
2. The cheque no. 850759 dtd. 24.05.16 issued by lic hfl ltd. For an amount of ` 4, 00000/- (Four lakh) was handed over to me on 08.06.16. This is also brought into your notice that cheque is usually provided to the customer after 3-4 days from the date of issuing of the cheque alleging by lic hfl representative, jabalpur that cheque is issued at bhopal and it takes time to reach jabalpur.In this regard, following few points are kind perusal –

 rate of interest should be applicable from the date of handing over the cheque i. E. 08.06.2016 as the cheque was completely kept with lic hfl ltd.
 as mentioned above, this also takes time 3-4 days to deliver the cheque to the customer, how interest can be calculated from the date of issuing of the cheque?