I took a loan from LIC Housing Finance, but I was not sanctioned the whole amount. My processing fees was also higher compared to others. I have not received the completed and signed copy of the loan agreement. I do not know what is the loan amount, the rate of interest, the period and the EMI. How can I get the copy of loan agreement and refund of excess processing fee?Loan sanction is based on your loan eligibility and income. Also, banks provide up to 90 per cent of the cost of property. Hence, there may be a difference between the loan amount sanctioned and disbursed. Please approach the bank for a copy of the loan agreement to get details relevant to your loan.
Make an official complaint in writing and obtain an acknowledgement for a copy of the agreement, which is your right. If you do not get a satisfactory response within 2-3 weeks, you can complain to the National Housing Bank (NHB). It is a regulator for housing finance companies. Details are available on http://nhb.org.in/.
