[Resolved] ICICI Home Loan — Pre Closure Charges | |
I have taken a home loan of Rs 8.5 lakhs from ICICI bank in Aug08 and want to get it pre closed due to very high intrest as compared to other Nationalised banks. ICICI is charging 11.25% whereas SBI is charging 8% only. When I approached the bank for a preclosure they have asked me for a preclosure charges of 2.25% on the preclosure amount. As per the guidelines of the RBI which was clearly mentioning that the banks cannot charge the preclosure penalty as per the news in all the leading newspaper last week. I have again approached the ICICI bank helpline but according to them I have to pay the pre closure charges of 2.25%. Pls advise that why the guidelines of RBI are not followed by the private banks and whom I have to contact for the waiver of the preclosure account. Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 12 Comments | |
Comments
I had given a cheque for advance cheque for my home loan. It has been withdrawl from my bank but till now they do not gie refund in case of not sanctioned of my loan.
I had talk with RBI but they can not take any action due to bank are out from the RBI norms in 2006
I had talk with RBI but they can not take any action due to bank are out from the RBI norms in 2006
Yes, even I have been asked to pay 2.21% of pre-closure charges.
But if you do a partial pre-payment, there are no charges.
Wonder what happens if I pay an amount of (outstanding amount - one month's EMI) as partial pre payment?
Will there be no pre-closure charges then? The loan also gets cleared in the next month.
But if you do a partial pre-payment, there are no charges.
Wonder what happens if I pay an amount of (outstanding amount - one month's EMI) as partial pre payment?
Will there be no pre-closure charges then? The loan also gets cleared in the next month.
Dear Sir,
I would like to change my present communication address to the following address :
Account No:[protected]
Name: D.Rajasekaran
Old Address:No:43/20 Iyya Mudali Street,
Chintadripet,
Chennai-600002.
New Address:
No:2/3 Mangapathi Naicken Street,
Chintadripet,
Chennai-600002.
Mobile no:[protected]
Landline no:[protected]
I would like to change my present communication address to the following address :
Account No:[protected]
Name: D.Rajasekaran
Old Address:No:43/20 Iyya Mudali Street,
Chintadripet,
Chennai-600002.
New Address:
No:2/3 Mangapathi Naicken Street,
Chintadripet,
Chennai-600002.
Mobile no:[protected]
Landline no:[protected]
ICICI Home Loan — CLOSURE CHARGES
ICICI Bank Home loan A/c LBCHE[protected] / 1364419.I took a home loan from ICICI in 2005.
When I went to close the loan I was told that I need to make foreclosure charges of 2.50% on principal outstanding. When I took the loan I was told that there wont be any foreclosure charges if Iam going close thro my own funds.
I had complained to ICICI Chennai Branch – Anna Salai on 17.11.09, but no resolution and the treatment by the officials were pathetic.
Is this the way of treating a customer who is willing to settle the loan before the loan period???
DEUTSCHE POST BANK — Pre-closure charges?
Dear Respected,I have a home loan with Birla Housing Finance( Deutsche post bank). The problem is whether the interest rates are increased they increase it very next day. But when ever interest rates are reduced, they dont reduce it. Even if they reduce they will say the reduced interest rate will be applicable after 4 months.
Now the interest rate Deutsche post bank offering for new customers is 9%, where as my interest rate is 11.25!
Now I would like to switch my home loan to SBI. Now Deutsche post bank guys are asking to pay 2% pre-closure charges. But I heard RBI has asked to not to take pre-closure charges. DOnt know why banks dont follow RBI guidelines?
Thanks,
Ramprasad.
Dear Respected,
I have a home loan with Birla Housing Finance( Deutsche post bank). The problem is whether the interest rates are increased they increase it very next day. But when ever interest rates are reduced, they dont reduce it. Even if they reduce they will say the reduced interest rate will be applicable after 4 months.
Now the interest rate Deutsche post bank offering for new customers is 9%, where as my interest rate is 11.25!
Now I would like to switch my home loan to SBI. Now Deutsche post bank guys are asking to pay 2% pre-closure charges. But I heard RBI has asked to not to take pre-closure charges. DOnt know why banks dont follow RBI guidelines?
Thanks,
Ramprasad.
I have a home loan with Birla Housing Finance( Deutsche post bank). The problem is whether the interest rates are increased they increase it very next day. But when ever interest rates are reduced, they dont reduce it. Even if they reduce they will say the reduced interest rate will be applicable after 4 months.
Now the interest rate Deutsche post bank offering for new customers is 9%, where as my interest rate is 11.25!
Now I would like to switch my home loan to SBI. Now Deutsche post bank guys are asking to pay 2% pre-closure charges. But I heard RBI has asked to not to take pre-closure charges. DOnt know why banks dont follow RBI guidelines?
Thanks,
Ramprasad.
I also facing similar issue with State Bank of Mysore, They are also demanding for 2% of outstanding amount as pre closure penalty.
I wanted to pre close my housing loan as they are charging more interest rate 10.25%. But same bank is charging 9.25% for some other existing customers but charging more for me alone. When I approached bank manager he is reluctant to resolve the issue from last six months. For new customers the same bank is are offering 8%. This is really ridiculous service by a nationalized and a reputed bank like SBM.
I really need someone to help in this regard...
I wanted to pre close my housing loan as they are charging more interest rate 10.25%. But same bank is charging 9.25% for some other existing customers but charging more for me alone. When I approached bank manager he is reluctant to resolve the issue from last six months. For new customers the same bank is are offering 8%. This is really ridiculous service by a nationalized and a reputed bank like SBM.
I really need someone to help in this regard...
I have an ICICI Homeloan LBCHE[protected], which I wanted to preclose. I have talked to Palani, (mobile [protected]) the home loan officer in ICICI Branch at selaiyur, Tambaram, Chennai to preclose.
He has refused to cancel the preclosure amount and has demanded to pay foreclosure. He has shown the foreclosure amount he has collected for Loan today at 29 Oct 11.
I have cited him RBI guidelines (http://pf.sdoye.com/2010/12/pre-closure-of-home-loan-with-no-charge/) publisedh in Aug 2011, and in Oct.
His contention is that ICICI branches have not received any circular on foreclosure waiver and hence he continue to collect it. is this not the duty of ICICI employees to gather proactively o gather such information?
If icici collects the preclosure against government regulations, is that not illegal?
Please inform me how can I get the preclosure waiver suggested by RBI.
Thanks
Arun
He has refused to cancel the preclosure amount and has demanded to pay foreclosure. He has shown the foreclosure amount he has collected for Loan today at 29 Oct 11.
I have cited him RBI guidelines (http://pf.sdoye.com/2010/12/pre-closure-of-home-loan-with-no-charge/) publisedh in Aug 2011, and in Oct.
His contention is that ICICI branches have not received any circular on foreclosure waiver and hence he continue to collect it. is this not the duty of ICICI employees to gather proactively o gather such information?
If icici collects the preclosure against government regulations, is that not illegal?
Please inform me how can I get the preclosure waiver suggested by RBI.
Thanks
Arun
HI,
I have a housing loan from IDBI bank. When i approached bank this week for a Loan take over to other FI, they confirmed pre-closure 2% will be applicable since they won't come under NHB. To me all this announcements by NHB looks very conflicting when NHB Is subset of RBI. How can RBI stand still when NHB go and announce waiver for banks under it. I guess it high time for common stand with in banks and get the benefit for all customers.
Regards,
Dileep Narayan
[protected]
I have a housing loan from IDBI bank. When i approached bank this week for a Loan take over to other FI, they confirmed pre-closure 2% will be applicable since they won't come under NHB. To me all this announcements by NHB looks very conflicting when NHB Is subset of RBI. How can RBI stand still when NHB go and announce waiver for banks under it. I guess it high time for common stand with in banks and get the benefit for all customers.
Regards,
Dileep Narayan
[protected]
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DEUTSCHE POST BANK — CIBIL REPORT
I have applied in Deutsche Post Bank, Delhi for a Commercial Loan. Every thing is o.k. but now they are saying my name is in the CIBIL report showing a Loan in my name which is baseless because i have not taken any loan. so they are asking me to wait and they are delaying in disbursed the Commercial Loan Amount to me. and i want to know the full details of CIBIL Report as they are not providing me that.