ICICI Home Loan — Worst Bank Ever

ICICI Home Loan — Worst Bank Ever

D Deepak S from Delhi, Delhi

I have a home loan took in Dec 2006 at the ROI of 8.25 on Step up method. This is the worst home loan method to suck the maximum blood from a consumer. First 2 years none of the amount from the EMI goes for Principal amount. Due to this currently in Apr 2009, my tenure has increased to 20 more years from 15 to 35, ROI increased from 8.25 to 12.5 and also theb outstanding amount has been increased to 80, 000 more. This shows till now what ever I have paid is just the interest part and the increase in tenure. Also still not able to understand why they are not able to decerese the interest rate compared to other banks. Also suggestion for other people is to not to go for a any multinational bank for a home loan. Please suggest is there any way for me to go for a cosumer court and get rid of this. Was this information helpful? No (0) Yes (0)

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Comments

pchary

from Mumbai, Maharashtra

ICICI bank is fooling and luring the customers. they offer very low interest rate than any other bank and low processing fee (i thought i am lucky enough when i am being trapped by their low rates).

They increase the rates when RBI increases and do not decrease the rate when RBI decreases.

ICICI is a fraud and cheater. People see that they provide good customer care and their offices are Air conditioned. Believe it's all someones hard earned money plucked by trapping them.

Governament banks are best even if they charge little higher, they are stable it is worth taking a pain getting the home loan from Govt bank.

i lost Rs 5, 00000 in 2 years as interest and when changed the loan i have to pay extra than what i took due to their policy of getting 2% on principle outstanding if loan is closed.

********* Dont get in the traps of the fraud cheater ICICI