[Resolved] ICICI Bank Home Loan — Abnormal Rate of Interest and Tenure

[Resolved] ICICI Bank Home Loan — Abnormal Rate of Interest and Tenure

C Chandsn M from Noida, Uttar Pradesh

Dear Sir, This is really unfortunate that ICICI Bank cheating most of their customer who are already availed home loan option. I took 18 L INR (floating rate of interest) from ICICI Bank and my EMI was started in the year of Mar 2005 and prior to that I have also paid their so called Pre-EMI as well. However, since 36 months I have been paying in the rate of 12.75, 13 and now 16.25% and 2 months a go they also increased .5% as well, yesterday I got a letter from ICICI Bank saying that they are decreasing .5% and I believe it is nothing but an eye washing, as we all know RBI's instruction to the all bank to decrease their respective home loan interest and I believe all most all the bank done the same except ICICI Bank. Moreover, they also stated that I have to give 294 tenure and my EMI will be 16212, if I could calculate correctly 16212 * 294 = 4766328 + 500000(last 36 months) =5266328, so, I have to pay near about 35 L more. Would appreciate if ICICI Bank could let me know why I should pay so much of extra amount and what maximum rate of interest they are looking for. Regards Was this information helpful? No (0) Yes (0)
Aug 14, 2020 Complaint marked as Resolved
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Comments

Davuluri Rajani

from Ghugus, Maharashtra

ICICI Home Loan — home loan tenure & ROi increase

I would like to share the problem i faced with ICICI bank regarding home loan. I took the loan from ICICI bank in the month of apr 08 for 19 lakhs, for the tenure of 240 months ( for 20years ) & monthly EMI was Rs 18, 970 at that time R.O.I (rate of interest ) was10.5% in june itself again ROI increased to 11.25% & from july ROI became 12% . This was not informed to us . Two weeks back i went to icici bank & i asked about my tenure then they told it was 683( 58years ) . Then really i got shock . I asked them why you were not informed to us till now .They told we sent to all .
Is ithis is correct ?
Can I fight with icici about this issue ?
Now the RBI has decreased the ROI but icici was not reduce till today
Is there any solution for this ?
If any one know the solution can you guide me ?
How the government is accepting this type of rules in icici bank?

Regds
Rajani

PANDYA PARESH RAJNIKANT BHAI

from Vadodara, Gujarat

My self Pandya Paresh R,
i have also your home loan customer, please send me the details of my home loan metter, i dont know for all metters for ROI & total amount of my home loan.
so please send me the details of my home loan.
My home loan adress is D-24 Kamla park, Nr. Dabhoi Dasalad vadi, Waghodia Road, Vadodara.
So please as well as possible send me the details of my home loan.
Thanking you.

Jathaveda M.S

from Mumbai, Maharashtra

ICICI Home Loan — ICICI Home Loan installment tenure

Hi,

My Home Loan Number is : LBBNG[protected]
Number of Months : 240
Laon Amount : 19 lacs
Availed : July 2006 at a rate of 8% ( Special offer for Corporate Employees)

I have availed the loan of 19 lacs from ICICI home loan at 8% and started paying the installment from July 2006 onwards, But suddenly they have incresed the interest by 0.5 % from next month with out any notice, and gradually increse it now to 12% and they are not intimating to me.

Also they have increased the tenure from 240 months to 327 Months, if i call them they are not expalining properly, as per them we will have to pay the loan through out the life.

Also it is noticed that when ever the government increase the ROI, they increase on the same day/month, and if the govt decrease the ROI, they 2 to 3 months to reduce it.

Kindly help us, we are not clear what is happening.

As per the statement recieved by them, if i am paying 19500 as the EMI the principle amount is Rs 505 and the rest is the interest amount..

Regards,

Jathaveda M.S
0091 [protected]

laxman yadav

from Bhopal, Madhya Pradesh

i need a statement