My father has taken home loan for reconstruction of our house from LIC Housing Finance Limited on 10/1 of Rs 250000 for 4 year & 6 months at rate of 9.25.At time of approval they assigned 4 of our Lic policies in there favor and taken original registry of house and guarantor (my uncle) salary slips. we are regularly paying Emi of Rs 5595.In month of Feb & mar, two of our policies assigned to LICHFL matured, so instead of giving us money (Rs141000) they adjust it against loan without our approval so that our loan remain of only Rs12200, we have received money for one policy before without any problem but now they told us that policy maturity amount has to be adjusted to principal loan they can not give it to us. We do not want to close our loan account due to tax purpose, So please look in to the matter and advise us what to next?
Dr. Govind Buddhiwant, Mradula Buddhiwant, Pallavi Buddhiwant
D 1434 sudama nagar Indore
Mobile no 09981110248
Loan A/c no 160012008
App no 213023
Policies assigned amout premium
342982554 56000 9689
341836005 50000 5155
341558466 50000 4611
342982278 60000 10321
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