ICICI Bank — unethical practice

Dear All,

I am facing some problems with ICICI Bank Personal Loan I have taken on my wife's name. I am providing my correspondence with so called "Genuine Bank" (or "Day light Robbers"??? you decide). I hope you will understand the issue and will not repeat the mistake I did. (of having any kind of relations with ICICI Bank)

Here is wht I wrote to ICICI Banks Customer Services
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Title: Mr.
First Name: Ankur
Last Name: Khakhar
An ICICI Bank Customer: Yes
Product: Credit Card
Account No: [protected]
What would you like to say: Dear Sir/Madam,

I have Been using your Bank's Credit Card regularly for around last 7-8 months (Ac No.-[protected]). I received a call from some o[censored]r executive in the month of june 2008 regarding some pre approved loan of Rs.1 lac. where he mentioned that the said amount will be credited into my account No.[protected] if I take said loan, and the EMI of around Rs. 2900 will be debited from the same amount from July 2008 onwards. I agreed & taken the said "loan".

In the month of July I deposited around Rs. 3000 in my said Account No.[protected]. later on I came to know It has not been yet debited & the amount is still in my account only.

Next month I made a call at your call centre, regarding the same, and Now they tell me I have to activate some auto debit facility to do that.(where the hell is that guy, who said my EMI will be directly debited?).I thought that's fine, I will pay it through cheque this time, & asked about the account No. to be written on the cheque to an employee of the bank, who instructed tht the account no. is same one that is for the credit card([protected]).I use to travell a lot & so I dont see the statements regularly & I follow the messages you send to my mobile. So I deposited the cheqhe of EMI of Rs.4683 along with my regular credit card payment cheque of Rs.13318. You can find the details in my A/c No. [protected] as on 9th August, 2008. Where u will find that I m the only who paid advance of Rs.4683 for my credit card payment (the exact amount that was supposed to be paid in my loan A/c No.[protected]) before even puchasing anything though your credit card for the applicable period. Usually people enjoy credit & the pay on bill date, & surprisingly I paid in advance !!! thanks to the guy at your desk in the bank who makes us wait into the line till the token no. comes & without going into details gives solutions. Amazing !!!

Not over yet, Your people started to give us call for payment of EMI. Meanwhile My father died in Rajkot & I was busy with the issues relating to that. But leaving all those things I had to check with your bank & the credit card department regarding all this mess-up, as I am bound to do as a customer of your "esteemed" bank.(Eventhough I paid cheques of ICICI Bank only, Your departments can not solve this inter-departmental mess-up). Finally I found wht you wanted, when I went back to my place in Ahemedabad and seen your statements. Charges of Around Rs. 2400 in my tenure of 3 months of loan with an EMI of Rs. 2900 odd. Very Nominal !!! that too for the mistake the representatives of your bank made.

One more issue- I have noticed that there are some Interest charges you have levied in my A/c No.[protected] around Rs. 32 or so. I went to your regional office for all these issues. & they said the the charges in the form interest of Rs. 32 are levied because of late payment of partial amount. Do you know wht was the partial amount I could not pay as I was not in Ahmedabad & I instructed someone else to pay on my behalf? Rs. 0.36 !!! the bill amount was Rs. 13318.36 & I paid Rs. 13318. (also Rs. 4683 by mistake) I can not understand how it can still show an unpaid amount of Rs. 0.36 still. & even if it shows, how can u ask for an interst amount of Rs. 32.43 on the dues of Rs. 0.36 for a period of one month ??? I am a C.A. & MBA in Finance, but this calculation was far beyond my entire life's knowledge. Wht is the rate do you charege for interest.

No wondor as anything can happen with the name "ICICI" !!! regreat dealing with your bank-especially credit card (I want to surrender)

Finally I want to say that, I am ready (as I was ever) to pay all my EMIs "the way you want" (Auto Debit/Cheque/Cash) but please this time accept my EMI. And also revise all the chareges & interest which you have charged UNETHICALLY to all my accounts.(without reversal of charges I will not pay anything)

Regards,
Ankur Khakhar
(On behalf the Account holder who is my wife)
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Their Reply
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Dear Sir,

For quicker resolution of your query/request, please write to us through the "E-mail Us" option at our website, www.icicibank.com

We have reversed the interest charges of Rs. 32.43 and service tax of Rs.4.01. The credit of reversal will reflect in your subsequent statement.

We inform that you have to make the payment towards loan account by mentioning the loan account no 9401 XXXX XXXX 7007, then you the amount will be credited to the loan account and will be adjusted towards the EMI.

As per the statement of September 15, 2008, the total amount due is Rs.12990.17 and the due date is 03/10/2008. We request you to make the payment of the dues as per the statement to avoid any financial charges on your credit card.

Looking forward for your co-operation.

Sincerely,

Rajesh D
Customer Service Officer
ICICI Bank Limited
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If you can notice, they did not mention anything about the actual issue of around charges or Rs.2400 and resolved the issue of around Rs. 32 charges. Amazing !!! & when I asked them to send me the final settlement amount (because I dont want to continue any relationship with ICICI Bank any more) they did not reply till now. I am waiting for my next statement to come when they lay more charges for outstanding amount even though I am ready to pay their entire amount


Beware when you make any transactions with ICICI Bank Ltd.
Regards,
ANKUR KHAKHAR
[protected]