I have recently got an approval for loan from LICHFL. As per the sanction letter they say that first 2 years the ROI is fixed and then floating but the sanction letter is not mentioning the ROI after 2 years.
It is only mentioning the current LHPLR rates and not even the spread on it. When I ask the Manager they say that rates will not be known now but they will fix it after 2 years only. Is it worth taking the risk of not knowing how they are calculating the ROI after 2 years. LICHFL members are also not clear on this. Do you feel it is ok to go with LICHFL with this condition. Please suggest.
Rajeev