[Resolved] ICICI Bank — CHEATING BY ICICI BANK | |||
SIR, PLEASE FIND BELOW THE DETAIL MAIL SENT TO NODAL OFFICER OF ICICI BANK. PLEASE HELP ME. This is to bring to your notice that I have my savings bank account no.[protected] for about last six years. Yesterday i.e. 25.2.2012 when I took a mini statement I found that my ledger balance is showing one amount and available balance is showing another amount. Immidiatly I had a word with customer care where in I am informed that my Rs. 22850 is blocked due to non payment of my ICICI Bank credit card. But to tell you that I have been regularly paying my installments of credit card no. [protected] and the whole installment is completed last December'2011 itself. Moreover I would also like to tell you that as per the collection agents that every month I have paid more amount than my installment amount as they have said that there is a excess payment due in the account. After completion of the installment I have again been called by the collection agent that minimum amount Rs1300 I need to pay and asper the guideline I have made the same payment. But instead of paying the required amount regularly how can the bank block my money and bank says that it will debit the same amount shortly. Moreover I asked the customer service officer that why have you blocked my money without at least informing me. In reply he said that we will block the amount and then inform you with a letter which you will receive shortly. I requested him to unblock the amount and if anything is due then to discuss and convert it to installments as I do not keep any dues with the bank. But instead it was refused and have been told that do anything the amount will not be unblocked. For your information and reference I would also like to tell you that I had two personal loans from your bank the loan account numbers are as follows LPCAL[protected] - L & LIJDV[protected] - L of which I have repaid in full without any problem so there is no question of non payment and have no intension to run away with the bank money. I am surprised about the whole thing and find it risky to keep a personal bank account with your bank as there is no security with you bank. Bank may do anything anytime. After some days it may also say that more amount is due and deduct or block some more amount without information. It seems that bank can touch personal account without information and take away money of the customers as there own will, moreover when my dues are regularly paid how can bank touch my personal account without standing instructions. What could have bank done If I did not have a personal account with the same. I always thought this is a friendly bank but have no idea that bank can touch customers personal account without information or permission from the customer. I think that it is not safe to keep account with your bank anymore and withdrew high transaction accounts and personal accounts of myself and my friends and family members if this problem is not solved Immidiatly. RBI does not have any such rule to touch customers personal account without informing the customer and deduct money. Therefore I will request you to look into the matter and solve my problem Immidiatly otherwise I will have to knock the doors of consumer forum for justice. Looking forward to the justice from your end. Thanks Biswadeep Roy Chowdhury [protected] Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 7 Comments | |||
Comments
I am in receipt letter from ICICI Bank and am further shocked to note its contents. I really do not understand as to how many more self contradictory statements will be coming from ICICI bank regarding one transaction of loan. In your subject cited letter you are now mentioning that the loan carries interest @ 8, 76% p.a. whereas your first communications received about one and a half year back in this regard mentioned the rate of interest is 18.75% on the said loan which was sanctioned and already stood disbursed and in the second communication you had mentioned that the rate of interest at which the said loan was sanctioned and disbursed is 9.41% p.a. Please decide at your end as to which of your communications is correct and then inform me of the same to let me know as to for how much amount, I am being cheated by the ICICI Bank.
Secondly, my stand always had been that I had signed the paper book containing blanks in various forms/agreements, which was never ever denied by the bank in more than one year of correspondence exchanged. This fact finds a place in the complaint to the Banking Ombudsman also. For the first time the bank has come out, after about one and a quarter year that too with a fantastic story that “based on the receipt of application and agreement that was duly authenticated by you”. This story of the bank is obviously false. Had it been not false, the bank would not have come with the statements that the loan carries interest @ 8.75% and afterwards changing the stand and saying that the loan carries interest @ 9.41% p.a. and now 8.76% p.a. in the latest communication. Had the blanks in the agreements/documents were filled and authenticated by me as is being alleged now for the first time ever after more than last one year and four months of correspondence, the bank could not have mentioned three different rates of interest which this particular loan attracts in its three communications. Your averments in the letter dated 8/07/2009 that the loan carries fixed interest rate of 8.76% and your statement that the “agreement that was duly authenticated by” me is an afterthought and has come after may be by further fudging the documents, which are in your custody and control. Had the blanks in the documents/agreement/s been filled and authenticated by me, the bank could have sent a copy of the agreement to me during last one and a half year. The agreement has not been provided till date even after more than one year and a quarter year of my request for the same.
The falsity and the hollowness of your statement that “CFOC forming a part of the first EMI has been recovered and is not in addition to the amount of the loan but only forms a part of the first EMI/Advance Installment.” is writ large and is in contradiction to the very first document i.e. the first Amortisation Schedule sent by the bank to me and is also contrary to clause 9 of the terms and conditions of loan, which clause 9 is reproduced below:
CLAUSE 9 OF TERMS AND CONDITIONS OF LOAN:
9. The number of advance Installments, as mentioned in the Application Form, paid by the Borrower/s to ICICI Bank (or its nominees) prior to disbursement of the Facility (or at any other time, as may be specified by ICICI Bank) shall be adjusted against the payment of the last Installments (of an equal number) or in any other manner as decided by ICICI Bank. The Borrower/s shall not be eligible to any interest on the amount of such advance Installments.
Therefore, as per the terms and conditions of the loan, the bank had all the rights to adjust the advance EMI “in any other manner as decided by ICICI Bank" and does not have any authority or any right to treat the first EMI “in any other manner as decided by ICICI Bank”. Further the said first Amortisation schedule very clearly, correctly and specifically mentions the following:
1. That the principal is Rs. 6, 57, 000/-.
2. That the Advance EMI paid is Rs. 13, 664/-.
3. That the outstanding principal after adjusting the advance EMI is Rs. 6, 43, 336/-.
4. That the first EMI of Rs. 13, 664/- payable on 13.02.2008 consists of repayment of Principal amount of Rs. 8, 898/- and payment of interest of Rs. 4, 766/-.
5. That the FCOC charges are Rs. 0.00 i.e. NIL.
From the above it is ample clear that there were no FCOC charges payable by me, the first EMI could not and therefore did not contain any element of FCOC charges and the principal after adjusting the first EMI is inflated. Also it is abundantly clear that I had submitted the blank booklet signed by me and the blanks in the booklet have been filled now because if these blanks had been filled earlier then the bank could not have communicated three different rates within one and a half year of sanction of loan for a single transaction of loan.
From the above facts, it also emerges that the bank, its Chairman, Directors and officers are not afraid of fudging documents even after the complaint to the Banking Ombudsman and also show that how far and to what extent, ICICI bank can go to, in cheating an innocent, gullible and fragile lady like me.
Secondly, my stand always had been that I had signed the paper book containing blanks in various forms/agreements, which was never ever denied by the bank in more than one year of correspondence exchanged. This fact finds a place in the complaint to the Banking Ombudsman also. For the first time the bank has come out, after about one and a quarter year that too with a fantastic story that “based on the receipt of application and agreement that was duly authenticated by you”. This story of the bank is obviously false. Had it been not false, the bank would not have come with the statements that the loan carries interest @ 8.75% and afterwards changing the stand and saying that the loan carries interest @ 9.41% p.a. and now 8.76% p.a. in the latest communication. Had the blanks in the agreements/documents were filled and authenticated by me as is being alleged now for the first time ever after more than last one year and four months of correspondence, the bank could not have mentioned three different rates of interest which this particular loan attracts in its three communications. Your averments in the letter dated 8/07/2009 that the loan carries fixed interest rate of 8.76% and your statement that the “agreement that was duly authenticated by” me is an afterthought and has come after may be by further fudging the documents, which are in your custody and control. Had the blanks in the documents/agreement/s been filled and authenticated by me, the bank could have sent a copy of the agreement to me during last one and a half year. The agreement has not been provided till date even after more than one year and a quarter year of my request for the same.
The falsity and the hollowness of your statement that “CFOC forming a part of the first EMI has been recovered and is not in addition to the amount of the loan but only forms a part of the first EMI/Advance Installment.” is writ large and is in contradiction to the very first document i.e. the first Amortisation Schedule sent by the bank to me and is also contrary to clause 9 of the terms and conditions of loan, which clause 9 is reproduced below:
CLAUSE 9 OF TERMS AND CONDITIONS OF LOAN:
9. The number of advance Installments, as mentioned in the Application Form, paid by the Borrower/s to ICICI Bank (or its nominees) prior to disbursement of the Facility (or at any other time, as may be specified by ICICI Bank) shall be adjusted against the payment of the last Installments (of an equal number) or in any other manner as decided by ICICI Bank. The Borrower/s shall not be eligible to any interest on the amount of such advance Installments.
Therefore, as per the terms and conditions of the loan, the bank had all the rights to adjust the advance EMI “in any other manner as decided by ICICI Bank" and does not have any authority or any right to treat the first EMI “in any other manner as decided by ICICI Bank”. Further the said first Amortisation schedule very clearly, correctly and specifically mentions the following:
1. That the principal is Rs. 6, 57, 000/-.
2. That the Advance EMI paid is Rs. 13, 664/-.
3. That the outstanding principal after adjusting the advance EMI is Rs. 6, 43, 336/-.
4. That the first EMI of Rs. 13, 664/- payable on 13.02.2008 consists of repayment of Principal amount of Rs. 8, 898/- and payment of interest of Rs. 4, 766/-.
5. That the FCOC charges are Rs. 0.00 i.e. NIL.
From the above it is ample clear that there were no FCOC charges payable by me, the first EMI could not and therefore did not contain any element of FCOC charges and the principal after adjusting the first EMI is inflated. Also it is abundantly clear that I had submitted the blank booklet signed by me and the blanks in the booklet have been filled now because if these blanks had been filled earlier then the bank could not have communicated three different rates within one and a half year of sanction of loan for a single transaction of loan.
From the above facts, it also emerges that the bank, its Chairman, Directors and officers are not afraid of fudging documents even after the complaint to the Banking Ombudsman and also show that how far and to what extent, ICICI bank can go to, in cheating an innocent, gullible and fragile lady like me.
Dear Mr. Kapoor,
Kindly write to us at [protected]@icicibank.com, with the subject line as 'Customer Service - Loan'. Request you to provide the relevant details of your loan, along with your full name and contact details.
We will be glad to assist you.
Regards,
Nazia Sayeed
Office of the Nodal Officer
ICICI Bank
Kindly write to us at [protected]@icicibank.com, with the subject line as 'Customer Service - Loan'. Request you to provide the relevant details of your loan, along with your full name and contact details.
We will be glad to assist you.
Regards,
Nazia Sayeed
Office of the Nodal Officer
ICICI Bank
Its always a nitghmare for customers with not only ICICI bank, but with all multinational banks & companies.
The customer becomes mad. I have that experience and still undegoing with very popular Multi National Bank in Bangalore for having taken a loan
aginst property. These Banks should realize that themselves are the loosers, as these Banks canvass for customers, but unfortunatley the
customers are squeezed once comes under the Banks ambit. For example, any borrower who is extremely prompt in the EMIs are monitered by
Bank and enhance rate of interest with some reason or other besides charging hideen charges, The defaulters with these banks are subjedcted to
severe severe punishment by using their muscle power. We in India have no choice but to bear with this. In the long term only we get experience
and canvass not to have relatiomship with these Banks. K R PRABHU
The customer becomes mad. I have that experience and still undegoing with very popular Multi National Bank in Bangalore for having taken a loan
aginst property. These Banks should realize that themselves are the loosers, as these Banks canvass for customers, but unfortunatley the
customers are squeezed once comes under the Banks ambit. For example, any borrower who is extremely prompt in the EMIs are monitered by
Bank and enhance rate of interest with some reason or other besides charging hideen charges, The defaulters with these banks are subjedcted to
severe severe punishment by using their muscle power. We in India have no choice but to bear with this. In the long term only we get experience
and canvass not to have relatiomship with these Banks. K R PRABHU
I had different experience ith this ICICI Bank in Bangalore. One of bank agents came to my door and canvassed for opening a SB a/c.
I did and transacted for some duration in 2003 (if correct) in the said a/c. There was a balance of Rs 1800+ in the a/c.
A/c was in operative on my own. I never thought that this Bank will cheat me by charging unexplained amount and showed debit balance
in my a/c. Besides I not only lost my amount, but also liability. I approached the Bank for clarification with the concern officer available,
who asked me to come next day as the manager was on leave. Then I sought an acknowledgment for my letter seeking clarification, but till today no
reply nor any credit to my a/c. Better always do things in writing and obtain ack. and file case in the consumer court.
K R PRABHU
I did and transacted for some duration in 2003 (if correct) in the said a/c. There was a balance of Rs 1800+ in the a/c.
A/c was in operative on my own. I never thought that this Bank will cheat me by charging unexplained amount and showed debit balance
in my a/c. Besides I not only lost my amount, but also liability. I approached the Bank for clarification with the concern officer available,
who asked me to come next day as the manager was on leave. Then I sought an acknowledgment for my letter seeking clarification, but till today no
reply nor any credit to my a/c. Better always do things in writing and obtain ack. and file case in the consumer court.
K R PRABHU
Hi Biswadeep,
Sorry to hear about your experience. We have noted down you contact details & our official will get in touch with you soon to assist you.
Regards,
ICICI Bank Customer Service Team
Sorry to hear about your experience. We have noted down you contact details & our official will get in touch with you soon to assist you.
Regards,
ICICI Bank Customer Service Team
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This is really cheating by ICICI Bank. When I mailed them for the problem, they are just ignoring it. Instead of giving proper reply, they are just telling some thing or the other that go there go here and etc.
ICICI Bank is just ignoring to pay my money back which they have taken forceively. Please guide what to do next and drag the bank to court of law.
Regards,
[protected]