[Resolved]  ICICI Bank — Home Loan

Address:Bangalore, Karnataka

I am customer of ICICI bank and had availed a home loan for Rs 18.5L more than 4 yrs back and the original tenor was 240 months. The original EMI was close to 16,000 and in the last 4yrs rose to 19,500.
I am so frustrated with ICICI's home loan structure, just feel they are cheating customers in all possible ways.
The FUNNIEST part of this whole thing is, after having paid for more than 50 EMI's I am still left with 478 months, which I am not sure might increase again.
This means I never ever in my life would be able to close this loan because the TENOR just keeps increasing.
This is the craziest bank I ever would have Banked with, I have decided to put a very strong complaint against ICICI bank and ensure none of my peers, colleagues, friends and relatives bank ever with ICICI bank.
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Aug 13, 2020
Complaint marked as Resolved 
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Home Loan — submitting cheques even after closure of loan

even after closing my loan account LBHAS[protected] ON oct 31 getting a closure letter on 17, nov 2008 icici bank is submitting cheques for payment in DEC 08 !

even after getting refund of rs 4000 plus towards the loan!

what should we call this?

the best service ? or taking people for ride ?

ICICI Bank (Home Loan) — No status on property papers after closure of the loan

Hello,
I have taken a loan of Rs 2008982 from ICICI Bank around 2.5 years ago. My loan was started with 9.5 and now it has shooted to 13.75. Even when the RBI has reduced the lending rates.

I then decided to close the loan by borrowing money from HDFC bank. on 14th January 09, I have closed my loan from ICICI Bank. I have started to pay the pre emi interest to HDFC bank already, but i still don't have any news on my property papers. Everytime we visit the brach or call the customer care center, they don't have any status other than that my loan is closed and i will receive the papers soon. I was told that i will get my papers by 27th, then 28th, then 30th, then 31st and now 3rd or 4th February. But they never give a status to where my papers are.

If I speak to anyone in the Branch they never gave a satisfactory reply.

i need to submit my property papers to hdfc bank to avail additional loan to complete the construction of my house. I am buying all the building material on credit. the vendors have now stopped giving additional material untill i pay my dues.

please let me know what i can do in this case? Is there any monitory agency we can report to?



Thanks and regards,
Balwinder Singh
Dear Sir, I want Latest Loan Statement for Last Month for my Home Loan Account LBRAJ[protected] Please send me as soon as posible,
Friends, just stay away from ICICI Bank. You will only get cheated.
ICICI Bank is cheating all existing customers. Shifting home loan to PSU bank is the only alternative to ICICI customers. They were quick to increase interest rates, but not bothered to decrease it after RBI rate cuts.

The interest rates offered by PSU banks is nearly 4% lower than ICICI. That means you can save approximately Rs.5000 per annum per Lac on 15 year term.

That means if anybody has taken 10 Lac loan from ICICI, then he will save around Rs 50, 000 per year in interest payment.

If you are still continuing with ICICI Bank, then don't complain. Just shift

ICICI Bank is threatning customers wanting to shift loan to PSU bank with a penalty of 2%. But please note that according to the consumer court ruling ( Source :II (2008) CPJ 166 ), Bank cannot charge penalty for transferring the home loan. According to the ruling, the transfer of loan is considered as takeover and not a closure. So if they threaten with penalty, please approach consumer court.
Sameproblem, I havetaken lone onoct-08 still IampayingEMIwith12.75 interestwhileRBIcutrats up to 8 to 9%

ICICI Bank — ICICI Home Loan (Old customer)

Hello,

I am an old ICICI Home loan customer, I had taken the loan through floating rate, it was told that this floating rate is directly linked with the banks Repo rate. There is two matter, currently ICICI Bank providing around 9% interest charge for the new customer for floating rate loan, then how it is possible that the same kind of loan for the old cumtomer they are charging more, i.e. around 13%.

The second mater that when RBI had increased the Repo rate then the same bank increased the rate, now when RBI decreased then why not, what is meaning of Floating rate laon means, only increase and increase.

Is any regulatory available in our country to stop/punish such open FRAUD by the ICICI bank.
Please help the consumers of India for such Organised fraud.

Thanks,
Sanjay
I am an old ICICI Home loan customer, I had taken the loan through floating rate, it was told that this floating rate is directly linked with the banks Repo rate. There is two matter, currently ICICI Bank providing around 9.75% interest charge for the new customer for floating rate loan, then how it is possible that the same kind of loan for the old cumtomer they are charging more, i.e. around 13%.

The second mater that when RBI had increased the Repo rate then the same bank increased the rate, now when RBI decreased then why not, what is meaning of Floating rate laon means, only increase and increase.

Is any regulatory available in our country to stop/punish such open FRAUD by the ICICI bank.
Please help the consumers of India for such Organised fraud.

Thanks,
Sanjay

ICICI HOME LOAN EMI — Wrong message sent to me

To-day I got a SMS message from Cell No.[protected] stating that my EMI due on 07.04.2009, whereas every year I am giving to ICICI Bank (Home Loan Dept) post dated cheques (12 cheques in a year) and according to that my EMI due should be on 7th of Sep.2009. What is this? Moreover, rate of interest is 15.25% for floating rate, how, when I purchased my flat that time it was 10.25% and during BJP Govt. it was come down to 9.25% and how now it should be 10.25% as other banks have already cut down their floating rates for old loan.

Kindly let me know the whole thing immediately. Mind it I will not pay any extra charges for existing EMI as I got a concrete proof for Post dated cheque.

Thanks
P K Biswas

ICICI Bank — regarding home loan

I get lean from ICICI Bank Home loan before 1.5 years.

Now I pay interest rate of about 13.75%. I hered the on CNBC Awaz on dated 6 April 2009 at 8.30 pm regarding above bank reduce the rate (9.75 %) with 0.5 % fees. Today i visited the branch (Bharuch-Gujarat), I told the bank exicutive about my loan amount and about the scheme. She told you are eligible for the scheme. The Scheme in 0.5 % fees and reduce the your load from 13.75 % to 9.75 %. But She charged me 1.99% for convert this loan from high rate to law rate. She told 0.5 % rate applied before 30 March 2009 but I surf the website I knew the last date 30 April 2009 for it.

So, I want to know what is last date for above mentioned scheme.
August 14, 2008

ICICI Bank
Kind Attn: Ms. Shilpa Ganapa,
Customer Service Executive

Madam,

Ref: Your letter No.070108/279331L dated[protected]

Sub: EMI Returned Unpaid due to insufficient funds
Against my Home Loan A/c LBM[protected]

With reference to above I would like to request you to let me know the details/date of my letter referred against which you have replied, as I do not seemed to have been written by me.. And it is shocking to learn from your letter alleges that EMI for the month of May 2007 was returned unpaid due to insufficient funds. But I regret to state that you have neither enclosed a copy of my banker’s advice nor given the details therein, in support to your statement. I strongly protest and refute your allegation, being baseless and appears to be with malafide intentions.

Further, in your letter you have stated that Statement of Account has been posted to me on July 14, 2008. But I regret to state that till the writing of this letter, it has NOT reached my residence.

As regards my EMI, you ought to have referred your records that my payments are made through ECS from my bank branch, SBI, MIDC Branch, Andheri East, Mumbai-93, into the account of ICICI Bank against my loan-account. And as per my bank pass-book all the monthly EMI amounts being credited to ICICI Bank account through my bank on 7th of every month; and thus shows the amounts debited to my account.

It is shocking to experience the type of actual service your Bank renders, which needs correction/amendment as it is not all in the first-line of your above letter that “We value your relationship with ICIC Bank.” I am sorry to state that it does not Match. One wonders if this fact is known to your higher-management. It is high time to bring to their knowledge and also make it public; through media and TV channels etc.

It may please be noted that if you do not clarify, correct and confirm with me within 15-days from the date of this letter, I shall be constrain to initiate steps as may be deemed fit and proper, under the circumstances and claim damages for horrifying service, harassment and to tarnish the image of a genuine and sincere client.

Thanking you,

Yours faithfully,

Ramesh H Javkar


Dear Sir,

This has reference to my e-mail dated[protected] giving therewith brief facts that despite of EMI amount of Rs.5105/- being regularly deducted on 7th of every month from my account and credited to your bank against loan-account; for your kind perusal and with a request to extend your kind co-operation to advise the concerned department of your bank branch to sort out my credit of EMI of Rs.5105/- paid through ECS Seq.No.[protected] dated 7-5-07 which your bank, through monthly-letters/notices, has been stating to had not been received; whereas my pass-book clearly indicates that the said amount has been debited to my account with SBI, MIDC Branch.

While awaiting concrete reply and confirmation, please note that I have been running pillar-to-post between your ICICI J.B. Nagar, Andheri East Branch and SBI MIDC branch. During the follow-up, my SBI MIDC Branch has issued 3-letters dated[protected]along with the copies of old correspondence), addressed to your J.B. Nagar Branch, clarifying and credit/debit of my said EMI and also requested your bank to update my EMI credit. But I regret to state that instead o[censored]pdating to set right the bank records, your Bank has sent further notice regarding short-fall of one EMI amount. Thus, I am at square-one, getting frustrated, perturbed and disturbed.

I am at a loss to understand as in the process one additional EMI of
Rs.5105/- has been deducted by my SBI Branch on[protected], which also must have been received by your branch against my loan-account.

Please find attached scan-copies of the above last 3-letters dated[protected] issued by my SBI MIDC Branch, being self-explicit, for your kind reference and request to look into it and advise the concerned department to take corrective action, and confirm that the matter is sorted out to me give me sigh of relief.

In case any further details or documents are required, please do let me know through mail or on my mobile No.

Hoping your closer co-operation,

Regards,



Ramesh H Javkar
I am the Officer of Allahabad Bank and i am maintaining my home loan at ICICI Bank at above mentioned a/c no. i am really broken with the kind of response i've got because on 29th of April at 7:30 pm, my son got threatening and abusive calls from icici with no([protected]) and this is been the story since last 4-5 months. I sincerely belive that my problems will be taken care at your end and i wont have the feeling that borrowing a loan from this bank was the biggest mistake of my life. I as the bread winner for my family is really scared for the security of my family.

ICICI Bank — Debited amount has not credited since last 1 month

Dear Sir/Madam,

I have made transactions with SBI dated 05.04.09, which were failed to receive the cash but I have been debited an amount Rs. 10000/- for two transactions Rs. 5000/- for each. I have complaint to customer care and they provided the SR No.[protected] and[protected] respectively and promised to credited money upto 18.04.09 but I did not received the amount back. After several enquiries I have been again promised and sent SMS for next 12 days but still there is no response. Again they calculated the working days and promised for date 02.05.09. Today dated 04.05.09 I have called again and they promised for after next 8 days.

Sir, you can judge the patience limit of a consumer and please suggest me to get the money back in my account. Thanking you and the best regards.
This is another EXAMPLE of atrocity by ICICI Bank toward a customer. I like to publish in India Post in California, USA the complaint.

I hope Indian Government will look into this case and get the justice done.
I will be watching this case and will give very wide publicity in USA if Mr. Saroj Kumar Pandey's case is not resolved.

ICICI has gotten too BIG to fail? Reminds me of AIG in USA.

ICICI Bank — Home Loan...

Sir,
I have taken Home Loan from ICICI Bank in 2007 Dec at 7.25% which they have kept on increasing to 13.25% as they are saying cost of funds increased but now when you have provided cheaper loan rate they have juist reduced 1% and still changing 12.25% though from new customer it is charging @ 9.5 this is illegle and cheting; many Private banks and PSU have reduced rates but ICICI is not passing benifits to Old customers plsase please HELP!
Many Thanks,
Sanjay
I agree this and not only ICICI, all other credit cards follow the same stratergy. Even Private loan lending instituitions like GE money etc also do levy high interest rates like 30% per annum. But RBI never look into this. RBI Complaint form in its website is even not working. This is how finance controlling Body and our great finance ministry is taking care of common man.
They send a statement with specifying IST Tax, BST Tax and ABCD tax of 2%, 10% and 15%. Really don know what it means. for a credit of 40000, I pay 2000 per month as tax and other 2000 as really payable money with interest. so plz calulate wht is my interest. We are being cheated by these financial crocodiles. They shall ask us, why u get loans frm us. but in advts they lie that they issue loan for lowest rates. 1% per month etc.. I don think our country shall improvise itsel[censored]ntil these type of financial administration is continuing.

House Loan — Monthly of house loan-requested

1)I want to know my monthly blance of the loan aviled by me .A/C No:[protected] for 4.25lakhs.
please informmonthly thru e-mail after monthly recovery effected.
2) My salary date is normally 1st day of calender month.Unfortunately salary credited by the authority by 8th and 5th of April and May 2009.In appril 2009 I had to pay cheque rebounding charges of nearly 150 rupees.In the next month deduction has not been made so far.I contacted regional office, at Thrissur on 14/5/2009 directly and over phone on 18/5/2009.But the office staff didn't take my loan instalment on 14/5/09 and ifnormed me on 18/5/09 that ECS has not been rebounded till date.but in my bank account, no deduction has been made till date.
I therefore request that ECS may please be done only on 10th of every month.As U know all the premium itself have grace period.
thanking U
madhusoodanan.P.G
Hi,

I applied for pre-approved from ICICI. After waiting for four days when I called in their customer care to know status, I got to know that my application was rejected. When I asked for the reasons of rejection, the customer care didn't give any reasons. Also, they didn't give any email id where I can communicate and get the reasons. The customer care also informed that I can not apply for loans to their bank for the next 6 months.

I want to know how can I resons for rejection in writing from these guys.

Please help me with your suggestions.

Thanks,
Himanshu

ICICI Home Loan — Not given approval for out standing Amount

Sir/Madam

I have taken home lone (LBDEL - [protected]) of Rs. 8.5 Lacks for the flat. I had given EMI of that Lone for some time and stop, due to the reason that i had not got the position of that flat inspire of paying the EMI of that Lone Amount. For this purpose i had complaint in the police of near by the flat when threatening is done to me by your ICICI executive to give the EMI of outstanding payment, then I again told the reason why I am failing to give the EMI.

When the position of the flat is not given to me then I totally stop to give the EMI of the Lone Amount, I have told a number of time to the representative of ICICI Bank, who is asking about the EMI of the Lone

Now after the struggle when I got the position of that Flat then I am going to pay the outstanding amount of my Lone to S.D. Tower Plot No. 7 Community Centre Sec – 8 Rohini New Delhi 110085

Than the officer of that branch told us that we have to taken approval to continue the Lone after submission of outstanding Lone amount.

I am agree to pay the pending outstanding amount of my Lone and request him to continue my Lone as EMI.

I am requested that please continue my lone in EMI.

Please look into the matter seriously and solved my problem so that I can pay the outstanding pending amount and continue the rest lone as EMI.

Please contact me of any clarification regarding my lone.

Contact me as soon as possible otherwise you will be responsible for delay of the payment

I will never left my Flat to take position at any risk and cost in spite of Number of Request, so consider it most urgent.

Thanks with anticipation with positive response from your end.

Regards

B. Bhoo Lakshmi

Ph. [protected]

E-mail Add :- [protected]@gmail.com
Dear Mr. Kumar,

Kindly write to us at [protected]@icicibank.com with ‘Customer Service’ as the subject line. Request you to provide your full name and contact details.

We will be glad to assist you.


Regards,

Nazia Sayeed
Office of the Nodal Officer
ICICI Bank

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