I am planning to buy a new house and for the same I contacted couple of bank for the home loan. The rate of interest of lichfl was showing 0.40 and everybody else was 10.75/11.0%. Mr sanjay assured me this is the best deal/Offer you can get and I should go for it. Lichfl works of lhplr, I gave him a cheque of rs.5515/- Which is encashed last week and I received the sanction letter yesterday which states that 0.40 is the offer rate and after 3months or prior it will be changed to 14.40% - 305bps from the sanction letter "the rate of interest of 10.40% will be applicable for 3 months or next review date as per clause 2.2a of terms and conditions of home loan documentation kit. Thereafter applicable rate will be lhplr minus 305bps." That means immediately they will be start charging 11.35% this should be told before by the executive that ths promotion offer is just for 3 months so the customer can decide before giving money for processing. I know I will not get any refund but I want everybody aware of this.