Hi Friends,
I have been a customer of LIC HFL for 3.5 years. With my own experience, I have Found LIC is worsting banking organization across the domain.
Service is pathetic, no one is there to listen to customer.
they ROI after a fixed period is very high, (almost 2% higher than market rate)
Their Service time is almost double as compared to other govt/private banks.
disbursement time in CLP plan is quite high, SBI takes 2-3 days for disbursement while LIC take >20 days for the same task.
Now I am doing balance transfer, they took >15 days to provide list of documents and foreclosure letter.
After Loan closure, again LIC is asking for 4 weeks time for document retrieval which should not take more than a week time.
Comparing to nearest competitor SBI, they address these tasks in almost half of the time.
Over and above when I write a mail to their Customer care, I always get auto reply that some one revert back, but to my surprise I haven’t got a single call/reply from customer care team.
I know most of the customer may not have faced these issues, however Service quality and capability is best judged in crucial times.
I have tried & tested and basis that I am sharing this feedback for every-ones benefit.