Took A Home Loan in 2010 from LICHFL through an LIC agent (one Mr. Sharma whose reference was given to me by one of our Finance Department’s senior manager) I would never ever recommend LICHFL to anyone for’ Sheer Lack of Transparency, Casual attitude of the loan agent, Delay in disbursement of loan leading payment of penalty by me to the builder, Non provision of "sanction letter, tripartite agreement, details of loan account including interest rates" besides other hassles considering all the above you can very well think how meticulous LICHFL people are in preventing transparency in dealings. Moreover, when the rate of interest changed from fixed to floating, they are not offering the floating rate which is being offered to the new customers.
There is a huge 2% gap in the interest offered to old (higher interest for being already grabbed customers) than the new customers (to be grabbed) Considering all this I have planned started process for shifting the loan to SBI. LICHFL is now not releasing the copies of the required documents as preventive tactics Considering all this, apply your mind whether to go for LICHFL or not P.S: my Loan A/C LICHFL is 14011018277 (if any senior person from LICHFL is reading). :(
rgds SB
15/4/14
Further to the bad experience narrated, it still continues. I applied for list of documents copy held with LICHFL, more than 2 weeks back. No one has responded and no one has been able to tell when the papers will be ready. :(