I have never seen such a pathetic housing loan private company in my life. Let me explain you in detail.
I applied for a Home Loan with LIC Housing Finance as per builders advice and I thought LIC is one of the most trusted company in India which is compared with the Nationalized financial institutions.
You can find a consultant always when you go and apply for a home loan if you are going as per builders advice as to minimize the turn around time. I followed the same way.
I provided all the documents in one single go as I had earlier experiences. The consultant told that the loan approval would take a weeks time. I was waiting for his call until a week. Then I called him to know the status, in turn he told that he need few more docs and I provided the same instantly on the same day itself.
Here is the story starts, I was waiting for one more week and I did not get any response. I asked the consultant to provide me the contact person name and location from LIC so that I thought I would deal with them directly as to avoid middleman. I personally walked in to the branch and discussed with the Area Manager and he was such a lousy guy that he was talking to me and another person in his mobile on the same time. Imagine the situation I was into. As per the discussion with him, he was supposed to provide me the status by end of that week and I was waiting for his call as we exchanged our number and he told he would deal my case personally.
After a week when I called him, he picked up the mobile and gave it to some other consultant and asked him to deal with it. He simply disconnected the call. Then I tried again, they were not picking the call at all.
After this incident had happened, I walked in to the branch again and the area manager was speachless and was giving some stupid reason for not getting it done.
Finally after 2 months also, he could not get me the status. I was simply looking for only one answer, Approved or Rejected. They couldn’t even give me that status. Even at the time I withdrew my application, they were telling not to take any legal action against as they have also prepared a request from their end which was signed like me and I never have given any written statements.
Totally it’s a fraud and I had went through a huge fraturation during that time.
I WOULD NOT RECOMMEND THIS FINANCIAL INSTITUTION TO ANY ONE, EVEN IF HE IS MY ENEMY!