I took the loan for constructing a house and they were quick in processing the same, but they cheated in the interest part. They had told me that the interest will be fixed for 1 year, but it was not so, it was increased after 3 months from 8.75 to 10.5 and after that within 6 months it raised to 11.9%. I agree that the interest rates had increased, but I don’t agree the 1st increase.
The staff are not at all co-operative they are in their own world talking with each other. One big disadvantage with LICHFC is that in other banks i.e., for example SBI they are charging for 1% or 0.5% and are reducing the interests rates if it is less, this is not so in LICHFC, they say that their rules dosen’t permit and you will end up paying high interest only.