ICICI Bank Home Loans — Floating rate not being reduced for existing customers

ICICI has always been on the forefront when it comes to increasing the home loan rates for exsiting customers when ever there is an increase in the PLR but never it decreases the same for existing customers when the RBI announces reduction in PLR. i dont understand if ICICI has no obligation towards RBI and if RBI cant hold ICICI accountable for this action. We definitely need to do something about this before its too late. It looks like a cheating bank. RBI has recently announced a reduced PLR but ICICI has announced a rate cut for new customers only. i Dont understand the reason here. I strongly believe that either the government or RBI should take strict action against this bank
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I fully agree with the above complaint. In fact during my tenure of 5 year loan from ICICI I changed my agreement twice (after paying a processing fee @ 0.5% of outstanding amount) to take the benefit of the reduced rate. ICICI policies are not transparent and they follow dual standards i.e. with new and existing customers.

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