[Resolved] ICICI — ICICI Home Loan EMI Fraud | |
Hi, I am praveen, NRI from singapore. I took home loan in December 2006 from Hyderabad.At that time the interest was 9% floating loan. After 3 months my interest rate escalated to 11.5% but they are giving loan to new customers at the rate of 10%. On March 27th I sent a Demand Draft of Rs550000 for the partpayment to my loan account. They acknowledged that they received the DD on 01/04/2008 and they supposed to deduct my partpayment from the outstanding principle and recalculate my EMI from April 10th(payable on May10th) Instead of that one they are recalculating my EMI from May10th(payable on June 10th). one full month they just kept my money in suspension though i paid my partpayment well before EMI effective date. In my case ICICI deducts EMI on 10th of every month. I spoke to ICICI customer support for atleast 100 times but always they say that they look into the matter but no status. I wrote this to Mr Kamath and ICICI Quality heads.After that i got a response from Dharma Veda from ICICI Bank saying that they created a process of approval to recalculate from EMI from April 10th instead from May 10th.But even then still they recalculated my EMI from May 10th. I sent so many mails to the Account Manager but everytime i send a mail i get same response they are looking into the matter.After several mails i got response saying that according to their records my partpayment paid on April 17th.So the EMI going to be effected from May10th. I sent the money on March 28th and also they acknolwedged that they received it on April 1st and now howcan they say that according to their records they received it on April 17th. Its totally cheating ... There are lot of problems whenever i bank with ICICI . There are lot of stories with ICICI with most of my friends also .. Please dont have any relationship with ICICI.This is big big fraud bank. Regards, Praveen Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 11 Comments | |
Comments
I completely agree with what you said. I've faced similar problem every time I made a part payment. The change is not reflected in the following month but in the month after that. e.g. i made a part payment on 17-aug-2007, but I got the benefits in terms of reduced EMI only on 01-Oct-2007. I know of banks which have a daily reducing balance on the principal and moment the check/DD is realised the outstanding principal is reduced. Whereas with ICICI bank the change in outstanding principal is seen after 43 days in this case and for most of my part payments the change is seen on an average after 45-50 days which is ridiculous. I've made several complaints with regard to this but no action has been taken. ICICI bank is making money with our hard earned money. They are indeed cheats!! Never take any kind of loan from ICICI bank.
Reply
Hi All,
I just would like to inform to icici bank that i havent taken any p.loan from them and i have recv ample number numbers of call from them they are abusing with me and they said if i dont pay the amount they will arrest me how is it pabbible if i havent took any loan from them i will go and make a complaint aginst icici bank and they need to give me a answer for the same ...please give me a suggestion wha can i do.?????????????????????
Amit babbar
[protected]
[protected]@aol.in
I just would like to inform to icici bank that i havent taken any p.loan from them and i have recv ample number numbers of call from them they are abusing with me and they said if i dont pay the amount they will arrest me how is it pabbible if i havent took any loan from them i will go and make a complaint aginst icici bank and they need to give me a answer for the same ...please give me a suggestion wha can i do.?????????????????????
Amit babbar
[protected]
[protected]@aol.in
mosst kamina bank
I am SIVAPRASAD, my accnt number is[protected] on 20/10/2008 charged the QAB charges843. With out any prior notice bank deducted 843 Rs from my savings acc and on the top of that no clue or reason available why it did like that. It is not fair. If bank cheats customers in this way then customers will be no longer with ICICI. When I was taken the account 2006 they were said the accnt is 0 balance accnt. why they charged this amount. It is totally cheat the customers.
thanks,
Siva.
thanks,
Siva.
I also agree with you i have taken a home loan from icici bank. These days i am having financial crisis due to which i requested them to do something which is beneficial to me i am ready to pay penalties etc. but not in a position to pay the emi for 8-9 months they are not supporting at all can any one tell is it possible to break the emi for some period and after 8-9 months continue the emi or any other way to sort out the problem.
I will be really thankful to you.
I will be really thankful to you.
I completely agree with the private Bank cheating people just by showing sweet attractive services when you are not the customer for that bank. Once you are a customer of these private bank they really start charging like anything.
There are lots of catch in their policy and hidden charges. They are so smart that even if you ask for the policy they would say it is for internal purpose and can not be shown to the customer. But later on when you ask for clarification of your rate of interest or charges they would always refer i't is as per [censored]ing policy.'
The more surprise is why Consumer Activist/Banking Obdusman/ MRTP department does not do any things. There are thousands, I must re-correct lacks of people having small or big story against HDFC/ICICI but no body does anything.
If reserve bank would do some strict policy then it would be benefited to many poor people. People who are reading and writing this blog are literate but still cheated. What must be happening to those poor villagers who must be cheated badly and no one is there to even look at them.
I request all Consumer Activist/Banking Obdusman/ MRTP/Media to do something or atleast make aware public not to be caught by their DSA and not to trust on their services which they show on the first time. Because their services are like banana tree where you will get fruit only once in the life time and cannot expect fruit through out life like other tree.
Rohit
There are lots of catch in their policy and hidden charges. They are so smart that even if you ask for the policy they would say it is for internal purpose and can not be shown to the customer. But later on when you ask for clarification of your rate of interest or charges they would always refer i't is as per [censored]ing policy.'
The more surprise is why Consumer Activist/Banking Obdusman/ MRTP department does not do any things. There are thousands, I must re-correct lacks of people having small or big story against HDFC/ICICI but no body does anything.
If reserve bank would do some strict policy then it would be benefited to many poor people. People who are reading and writing this blog are literate but still cheated. What must be happening to those poor villagers who must be cheated badly and no one is there to even look at them.
I request all Consumer Activist/Banking Obdusman/ MRTP/Media to do something or atleast make aware public not to be caught by their DSA and not to trust on their services which they show on the first time. Because their services are like banana tree where you will get fruit only once in the life time and cannot expect fruit through out life like other tree.
Rohit
I SINCERELY INFORM TO ALL OUR YOU THRO' THIS COLUMN DONT DEAL WITH ICICI BANK LTD IN INDIA AS THEY ARE THIRED RATED PEOPLE/SYSTEM AND I AM SEARCHING FOR A WORST WORD THAN 'THIRD RATED' WHAT IS THE RBI IS DOING AND HOW IT SHALL PROTEST COMMAN MAN LIKE ME FROM THE ILL BROGHT UP PEOPLE LIKE THE ONE WHO ARE EMPLOYING WITH ICICI...
ICICI Bank is the worst bank to bank with. Let us all sign this petition against the bank. Together, we change
http://www.petitiononline.com/bagla27/petition.html
Please help to spread awareness about this petition through your blogs
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To Manager,
Sir i have complaint that i m unable to check my status in monthly basis.And you are not giving proper details about my outstanding amount, rate of intrest and any new updates.So send me proper information at my home address or give me a proper sites nd password through which i can see me all information about my home loan.
Thanking You Your frustrated customer
P.P Tripathi
Loan A/C No.- LAN-LBKAN[protected]
O-204 Awas Vikas Colony,
Keshavpuram, Kanpur
Sir i have complaint that i m unable to check my status in monthly basis.And you are not giving proper details about my outstanding amount, rate of intrest and any new updates.So send me proper information at my home address or give me a proper sites nd password through which i can see me all information about my home loan.
Thanking You Your frustrated customer
P.P Tripathi
Loan A/C No.- LAN-LBKAN[protected]
O-204 Awas Vikas Colony,
Keshavpuram, Kanpur
my salary account in ICICI Bank from last 3 year, & also by mistake i have a loun account relation from this bank. i just won't to share because i known there is no any solution.
22 june 2009 they are block my account & make a lien mark of Rs -30, 904 (in minus), they are operating my saving account without my parmition, and account manager not able to give complite detail regarding to this lien mark.
dear all o[censored],
please inform me what i do, i really wont to anybody give me reply as soon.
22 june 2009 they are block my account & make a lien mark of Rs -30, 904 (in minus), they are operating my saving account without my parmition, and account manager not able to give complite detail regarding to this lien mark.
dear all o[censored],
please inform me what i do, i really wont to anybody give me reply as soon.
28.01.2010
Dear Sir,
Re: ICICI Bank home loan: flouting with interest rate.
I am NRI, working in South Africa. I have taken two loans from ICICI Bank, with interest rate of about 9%. The interest rate has gone up to 12.75%, and I was keep on paying this high interest rate, presuming that it is according to directive given by RBI. Last time, when I went to India, I spoke with bank manager of ICICI Bank, and he told interest rate has come down, and I submitted papers. The interest has changed to 11.75%.
Recently some body told me that interest rate is only 8.5%, then I contacted ICICI Bank, and with lot of difficulty I got my Loan account statement. The interest rate is floating, as it is gone up from 9% to 12. 75%, it has to come down to 8.5% as well. This not happened. With a lot of difficulty I contact the office of Mrs. Chanda Kochhar (CEO, ICICI BANK). I can not speak with her, but I have sent e-mail to: <chanda. [protected]@icicibank.com>, and attached all documents. Somebody called Chandrika Naidu send me reply, mentioning that they will reduce it 8.75% interest rate, provided I will pay them Rs20 000 each for switch in charges and service charges. I surprised as it is floating rate they must reduce automatically.
I do not have any respect to this ICICI Bank. It is sad that India is growing but the banks like ICICI, still manipulating, and causing harm to customer. There is nobody to control them. Please RBI must do something as this bank is cheating so many customers.
Thanking you.
Yours Sincerely,
Prof. BL MEEL
Copy: Consumers form, and NDTV
Dear Sir,
Re: ICICI Bank home loan: flouting with interest rate.
I am NRI, working in South Africa. I have taken two loans from ICICI Bank, with interest rate of about 9%. The interest rate has gone up to 12.75%, and I was keep on paying this high interest rate, presuming that it is according to directive given by RBI. Last time, when I went to India, I spoke with bank manager of ICICI Bank, and he told interest rate has come down, and I submitted papers. The interest has changed to 11.75%.
Recently some body told me that interest rate is only 8.5%, then I contacted ICICI Bank, and with lot of difficulty I got my Loan account statement. The interest rate is floating, as it is gone up from 9% to 12. 75%, it has to come down to 8.5% as well. This not happened. With a lot of difficulty I contact the office of Mrs. Chanda Kochhar (CEO, ICICI BANK). I can not speak with her, but I have sent e-mail to: <chanda. [protected]@icicibank.com>, and attached all documents. Somebody called Chandrika Naidu send me reply, mentioning that they will reduce it 8.75% interest rate, provided I will pay them Rs20 000 each for switch in charges and service charges. I surprised as it is floating rate they must reduce automatically.
I do not have any respect to this ICICI Bank. It is sad that India is growing but the banks like ICICI, still manipulating, and causing harm to customer. There is nobody to control them. Please RBI must do something as this bank is cheating so many customers.
Thanking you.
Yours Sincerely,
Prof. BL MEEL
Copy: Consumers form, and NDTV
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