Sub Loan A/c no. 10066936 dated 19/8, Application no. 612097
Madam,
This is in continuation of my earlier letters dated 27/7, 28/8 and 30/8 (copy enclosed) which remained unattended so far. This is the type of service LIC is providing to its customers. I would again like to bring to your notice the following apart from the issues raised in my earlier correspondence:-
1. I have paid Rs 1828 towards interest charges for the period 08 to 08 vide cheque no. 960951 dated 30/8 where as the disbursement cheque was bounced back due to wrong name mentioned in the disbursement cheque issued by LIC. The disbursement cheque was returned back to LIC for necessary correction and it was received back from LIC only on 21/8 which was credited to the account of the party only on 26/08. This is a matter of record and may be verified from the LIC a/c with HDFC. I am not liable to pay the interest from the date of cheque issued by LIC i.e. 31/7) (refer my earlier complaint dated 27/7/10, 28/8/10 and 30/8/10). Accordingly I would request the paid amount of `1828 may be adjusted against principal amount of loan in LIC a/cs. It is not understood on which account the interest is being charged from me when the disbursement cheque was not realized till 26th August.
2. As the disbursement cheque was not realized before 26th August, (it is a matter of record) LIC does not qualify for interest from the loan before one month time in that case. That means LIC is entitled for interest only after 26th September. Accordingly, the first EMI should have started after 26th September. I would request to readjust the EMI from 26th September.
3. Vide payment details in respect of above a/c (copy enclosed) the EMI is fixed to ` 19060/- which is enormously on higher side and not in conformity with the term of loan and rate of interest there of prescribed. The issue was at once discussed with the official concerned (Shri Guarav) but he pressed his point further that it is a LIC generate programme and is always different from EMI calculators in the market. I have shown a chart prepared by myself but he refused to entertain the same. I have deposited a PDC no. 960952 dated 5/9 for ` 19060 on 30/08 as first EMI to this effect.
4. Earlier I had been sanctioned `. 20, 00, 000/- loan for repayment term of 17 years vide offer of loan letter dated 22/7. In response to above, vide my letter dated 27/7 I had requested to restrict the loan amount to ` 15, 00, 000/- for repayment term of 15 years. Though disbursement cheque issued by LIC was for `. 15 lakh but probably EMI still continued to be fixed on sanctioned loan amount of ` 20 lakh for repayment term of 17 years. Necessary correction may kindly be made in computer system and the excess payment received by LIC may kindly be adjusted against principal loan amount in my LIC loan account with levying 2% penalty for part payment.
5. mY ECS A/C has not been streamlined despite completing all the formalities at the time of applying for loan itself.
Thanking you,
Yours Faithfully,
(J.S. Rawat)
9868236835
Copy for information to:
1. Mr. Mahendra Kumar, Regional Manager, LIC HOUSING FINANCE LTD., 2nd Floor, Jeevan Deep Building, 10, Sansad Marg, NEW DELHI - 110 001.
2. Ms Chhabi Saxena, LIC Housing Finacne Ltd, Grievance Cell, Laxmi Insurance Building, Asaf Ali Road, New Delhi.
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