ICICI Bank / Consumer Loan — icici bank consumer laon vs CIBIL vs consumer policy focus

Address:

Mumbai City, Maharashtra

Dear Team, ICICI BANK Consumer Loan Account No: NCBNG[protected] Issue 1 – Intentionally not contacted by ICICI bank consumer loan division for early payment of consumer loan (Year 2008 to 2013). Issue 2 – ICICI bank is sending only principal amount to CIBIL for update, why it is not sending (Principal + late fees) to CIBIL, where as other banks are sending correct information (Principal + late fees) to CIBIL per month /Quarterly. I had taken consumer loan (laptop) from ICICI bank Bangalore branch in Oct. 2007 for 33, 000 INR.I had paid amount 10, 689 with 7 EMI & rest paid as advance CASH & need to pay 9 emi for 13, 743 INR, but as I have opted for auto debit mode & this much of amount was always is there at my bank account so I thought it was cleared at the time, Suddenly due to loss of job I had left Bangalore city in 2008 mid . BUT I have not received any contact from ICICI bank in my registered email id or permanent address. below are the loan details, as per documents received by ICICI bank on 07-Dec-2013. Mr. Amit Gupta # 16 3rd Cross Kodi Halli Bangalore - 560008 Tel:[protected], 11111111 Mob: [protected] Email: [protected]@GMAIL.COM Loan Account Details As on 07-Dec-13 Sanction Date - 22-Oct-07 Loan Amount - 33, 000.00 Adv. EMI - 12, 216.00 Rate Of Interest – 23.63% Additional Interest - 24.00% Instl. Paid – 7 / 10, 689.00 Instl. Pending- 9 / 13, 743.00 Future Instl.Nos.- 0 Future Instl.Amt- 0.00 I left Bangalore after some time as I was not getting any job in 2008-09. I had opted for auto-debit payment through cheques & I had kept this amount ( 9 EMI amount 13, 743 + INR )in my salary account so I thought all cheques will be cleared. However, there was some amount pending & I was not contacted by ICICI team via my email - [protected]@gmail.com mentioned in their documents or not at my permanent address which is mentioned in their documents & its same address now also. As I left Bangalore in 2008, my Bangalore mobile number was closed, however my permanent address with email id was mentioned in bank details & loan documents. For my second Ioan at ICICI bank, Bangalore(same branch) I was getting regular call from ICICI credit card division to pay my balance due amount approx 23000 INR. When I got new job in 2010, I had paid the credit card balance amount in 2011 & received NO DUE Certificate from ICICI bank credit card division. Kind Attn: - It means ICICI bank had my updated contact details like my new cell number & existing email id & permanent address & present address. Few financial consultants suggested me that ICICI bank sometimes do not update CIBIL records regarding details about payment made after the final amount is paid by customers, while providing No dues Certificate. To get this confirmation whether my CIBIL is updated or not, I had enquired CIBIL for my CIBIL report for the first time. After I received my CIBIL report, I was shocked to know that the ICICI Consumer loan balance is still pending & being shown there in my report. I had contacted ICICI bank to confirm whether there is any balance against my name in ICICI bank (any division). So, their first reply came to my registered email on dated 6 th dec 2013 which was- NO sir we don’t have any information with your name related to any loan. In reply to this mail, I sent my first CIBIL report to ICICI on the same day, where the ICICI consumer loan was showing balance. After that they had taken time to check their database & sent me a mail - Yes sir you have one consumer loan balance & we got details. The point which I would like to make is: ICICI Bank doesn’t have correct database, which means either their consumer loan division doesn’t have any proper record for each existing customer OR intentionally they keep the customer records in hidden mode & when customer enquiries for his balance, they put all charges as mentioned by RBI & earn huge extra money like late fees, late interest fees, penalty etc. So when I checked all my consumer loan details I found that around 13000.00 INR principal amount was due & they have added around 25000 INR as various fees & told me to paid 13000. + 25000 approx. =38000 approx. INR ASAP. So this 25000 INR is their extra income which they had try to earnt by not contacting the customer in many years, hence by a simple calculation, you will be able to see that ICICI bank will earn more than 100 crores of extra money from their valuable customers, if only 1 crore of customer has this kind of issue. To earn this money, they put a simple trick by NOT CONTACTING THE CUSTOMERs & LET THEM REACH BANK AFTER MANY YEARS. Big question is why ICICI bank did not contact me for around 5 years from 2008 to 2013 & another question is why they have sent only 13000 INR to CIBIL record & demanding 33000 INR approx from me to pay off this loan. ICICI bank should have reported to CIBIL the exact balance due, as CIBIL is completely based on ICICI bank details which they have updated in their system for credit score. So it’s a kind of monopoly by ICICI bank to take extra money from existing customer & inform to CIBIL only the principal amount. When I contacted my financial advisor Credit Sudhaar Co., a credit rating agency, they have told me that for ICICI there are around 200 cases with credit sudhaar & amount involved in these cases is less than a crore, which is not a big amount for a bank like ICICI. Hence, senior management at ICICI retail banking team does not show any keen interest to solve these kind of issues which ultimately create mental / financial problems for customers. It’s really a pain for any valuable customer like me who is associated with ICICI bank for more than 10 years, taken many loans & paid all loans within time except one .So finally I want to take help & guidance from ICRPC, RBI, IBA & other financial organizations to solve this issue & pay only the correct amount which is reflected in my CIBIL report & to obtain No due certificate. Looks like, they are purposely doing this to delay the process of payment so that they can earn more interest as a result of their mistake by not contacting me . I am clearly not liable for this at all. Surprising element: What’s surprising is that they have never sent me a PHYSICAL BILL or COLLECTION CALL or COLLECTION EXECUTIVE to ask or remind me of the so-called pending payments, after my last payment in 2008, which gave me a very clear picture that my account is closed and loan is paid & closed. Suspicion: This also raises a suspicion that why they did not send any PHYSICAL BILL or COLLECTION CALL or COLLECTION EXECUTIVE. Are they are trying to siphon money from the customer without anything on records just by making the customer feel that we owe them where we actually don’t ? Finally I also would like a faster updation of CIBIL records and compensation from the ICICI banks side for not updating up my CIBIL status for nearly 2 years. Let’s see whether ICICI Senior management (consumer loan division) will think & act in an appropriate & customer-friendly behavior(as per ICICI bank tagline- Khyaal Aapka) for existing customers & will help to resolve this issue as soon as possible. CC – 1. ICICI Customer care - Hyderabad 2. RBI Mumbai 3. IBA (Indian Bank Association ) Mumbai 4. Consumer Forum 5. Money life Foundation 6. Creditsudhaar Organization – kandivali Mumbai 7. IRCPC 8. Credit Consumers Association - Thane 9. Abhay Credit counseling – Dadar Mumbai 10. Consumer Court India 11. Social Networking sites like facebook & twitter 12. Financial newspaper like Times of India, Financial Express, Livemint & CNBC awaz 13. https://www.consumercomplaints.in 14. ICICI bank – Mumbai grievance Cell -- Regards Amiit Gupta Mb. - [protected] Mumbai - (Bhandup West)