[Resolved] ICICI Home Loan — Increase in the tenure | |
My HomeLoan account number is NHNOD[protected]. I took 33lac from ICICI bank in Dec 2009 for 240 months, and have been paying the EMI regularly, but abruptly the tenure has been extended to 444 months, that too without any prior notice. The 11% interest they are charging is much higher that the market standards. I am also not sure how they are calculating the principle and interest component, out of 30k from the EMI only 600 INR is deducted from the principle and there is only very marginal increase in this deduction over the next 37 YEARS!!!!! Please help me. AmitKhare [protected] Was this information helpful? | |
Aug 13, 2020 Complaint marked as Resolved | |
 5 Comments | |
Comments
This is a common grievance with all ICICI customers. The bank's policy is to squeeze customers. All o[censored]s will agree that interest rates are going up. Bank is an institution and customers are individuals. How can the Bank expect customers to continue to pay their EMIs even after 10 years / 15 years of retirement ? One can also see more than 50% of the complaints about home loans belong to ICICI. It is high time that RBI step in and instruct the bank to follow customer oriented approach.
Reply
The response by ICICI Customer Service Team is "We are sorry to hear about your experience.We have made a note of your mobile number.We'll contact you and work to address your issue at the earliest. ". Ultimately, they will come back to you and say please either increase your EMI amount (by producing lot of documents to prove that you have the capacity to pay the increased amount) or you make some part payment. If this can be done why we should take loan from bank ?
Hi Amit,
We are sorry to hear about your experience.We have made a note of your mobile number.We'll contact you and work to address your issue at the earliest.
Regards,
ICICI Bank Customer Service Team.
We are sorry to hear about your experience.We have made a note of your mobile number.We'll contact you and work to address your issue at the earliest.
Regards,
ICICI Bank Customer Service Team.
They want the issue to be moved out of this forum. They will not give you any solution other than what I have quoted above.
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