[Resolved]  ICICI Bank — Complaint - Home loan sanctioned but not disbursed by ICICI Kolkata

Address:

Kolkata, West Bengal

Hi I booked a house in Gurgaon and was sanctioned a home loan by ICICI bank in Kolkata. I even received a letter dated 12/09/2013 as attached, confirming that the loan has been sanctioned. My frustration is that even after completing the whole process impeccably, and having borne the loan processing fee, till date I have NOT been given any financial support from the bank. Each time the demand letter is received, I forward the demand letter to the loans officer/relationship manager at Kolkata, and all they do is keep delaying the process.Their communication has been tardy (mobile switched off or call not taken most of the time), and has caused a lot of problems for me, and my family as the builder has a strict deadline policy, and charges penalty for not making payments on time. Therefore, just to make the deadline I end up paying the installment, even though it should have come from the bank. This has been going on for more than 3 months now. At the time of application, I spent a lot of time preparing documents and submitted all the relevant documents as requested by the loans department; even the tripartite agreement between the builder Emaar MGF and ICICI loans department has been completed. I was clearly told that all the document work is complete, and as the demand letter comes the installments will be sanctioned, but it is really heartbreaking to see the bank not upholding it's promise. I cannot understand why the officers keep asking for additional documents, and delay the payments intentionally, even though all the formalities have been completed and the loan sanctioned. Even the processing fee deducted. This is just not acceptable behavior. I would request your help to please resolve this issue at the earliest, and help me get the loan amounts as sanctioned, so that I can make the installments in time instead of going back and forth. Look forward to hearing from you. Thanks! Regards, Geetanjali Singh