This is with reference to file no:151233. I had applied for home loan of Rs.2350000/- with LICHFL,Vijaynagar C.O, Magadi Main Road, Opp Raheja Apartments,Bangalore-560040 almost a month ago, and duly submitted all the docs. and a cheque of Rs.3309 (cq.no.: 263182) in favour of LICHFL.

Prior to applying for loan the concerned representative from LICHFL came to our residence and explained about the procedure and requirement of the necessary papers for sanctioning of the loan. Accordingly I submitted everything alongwith the required details of the property for which loan was to be sanctioned. I had applied for the loan exclusively for that property. The contact details of LIC-HFL representative was provided by the same builder of the said property.

I have been waiting for the decision for sometime & kept calling LICHFL representative. Finally, he said the sanction letter is ready & it is in his pocket. After repeated pleas, he got the sanction letter and said that it is only financial sanction letter and a technical sanction letter is awaited.

This surprised me because initially he never mentioned that there are two sanction letters and the sanction letter given to me is actually useless without the technical sanction. He assured that it would be released within few days.

Again I kept on waiting and calling and finally he said that technical clearance is not possible. In this process lot of precious time and energy had been wasted.

As a result, I was forced to apply for cancellation for the loan and asked LICHFL for refund of my cheque.

LIC-HFL representative had initially said me that out of Rs.3309/- given by me,a nominal Rs.309 only would be deducted as processing and service charges etc and the rest would be refunded back to me in case of any of cancellation.

To get back the cheque I had to make several calls and send mails (Off course without receiving any mail replies).Finally when I contacted on 31/07/10 to LICHFL office,they had conveyed that the cheque is ready. When my wife had gone to the LICHFL office to collect the cheque,she was surprised that the refund amount was only Rs.1500/- i.e more than 50% of the given amount was deducted as processing charge.

My quiry is that even though I did not receive any amount as loan from LICHFL,rather Rs.1809/- was deducted for what reason? If that is the company’s principle,I should have been informed intially by your representative.

I feel that I have been cheated in the following ways:

Financial sanction was meaningless without technical sanction (What am I going to do with just a sanction letter??) an exorbitant processing fee is deducted

When I inquired from my end, I got a very unsatisfactory answer and had experienced a very very bitter and unprofessional behaviour from LICHFL executive there and doubts were raised in disbursing money even if the loan is sanctioned.

Here, I don’t understand that what does sanctioning of loan is meant by LICHFL, because I had applied for loan only for the said property and nothing else. Why was the sanction letter given to me and unethically Rs.1809/- was deducted for no reasons.

I am very disappointed with the way my case was handled and I want my balance money back (Rs.1500/-) which I paid against processing charges.

Hope action will be taken to refund the said amount immediately.

I request all the prospective home loan seekers to blacklist LIC-HFL totally.

Prabir Datta
email me at prabirdutta@bheledn.co.in
contact me at 9449869515

File No.157571
India Bulls, Koramangala
Bangalore
I am Sunanda D applied for home loan in India Bulls. Thay have collected cheque of rs. 5515/-as processing fee. They sent all papers for legal section, technical etc. one fine day they sent message to mobile stating that loan has been approved. So that I went asked them, they said there are some legal queries but financial approval has been given. Later they said it is not possible to give loan because concerned lawyer is not satisfied with papers. But they have deducted processing fees. when I asked for refunding they said it is not possible to give because we have done technical visit etc. Without legal why they have done all these things. why should I have to pay for their mistake.


1. Our neighbours are constructing house, they all have got loan from other banks with same papers.
2. They are saying that we have done technical etc. whether they have done it or not, who knows. By doing like this they will be benifitted.


I expect immediate reply

Sunanda D
email: d_sunanda@yahoo.com
Ph.Np 9845005014