[Resolved]  ICICI Home Loan — ICICI Home loan - Interest rate hike

pl send my provisional statement for claiming deduction under section24(b)&80c(@) of the income tax act for the year2007 to 2008 & 2008 to 2009 as it is urgent & i have not received yet.my acc no is[protected] &my customer id is 51692838

ICICI Bank is one of the worst bank to deal with whether its bank accounts, home loan, Credit Cards, or some other products. I really have never heard ICICI bank reducing interest rates from last 4/5 years. RBI should strictly look into this matter and save customers of ICICI bank. I started my home loan in 2003 @8.00 and now ICICI bank is looting me with interest rate @14.00. When you contact them they have standard answers like you have opted for floating rate and PLR is taken into consideration which is as per government and RBI rules. God please help ICICI Customers.

I have the same experience i am going to contact BankingOmbudsman .

I too agree about ICICI bank looting people by enormously increasing home loan rates. When RBI increased their REPO they revised it immedietly but when it went otherwise nothing is being considered. I am too prepared to switch to different bank who are transparent and honest. I calculated for 16 Lack Loan amount, I could still save 5 Lack throughout loan repayment tenure if I switch to another bank, which is significant enough to take a firm and no second thought decision. "Ham Hai Na" is there to loot you and make you bankrupt. I hope Mr. Kamath might be understanding the feelings of customer and make his banking system transparent enough to get good feel factor amongh million customer who feel that they are trapped and looking for alternative.

pl send my provisional statement for claiming deduction under section24(b)&80c(@) of the income tax act for the year 2008 to 2009 as it is urgent & i have not received yet.my acc no is LBBSL[protected] &my APP FORM NO is [protected]
This is the first year I did not receive the same since last five years. I hope you will be promt as you were.

The ICICI is never going to reduce the loan rates for existing customers. They are the biggest cheat in the country. KV Kamath, the ICICI head and CII president is the number one crook...he speaks in the public that banker should reduce the interest rates, but his bank never reduce rates. There cheap strategy is to give loan at low rates to new cutomers and increase thereafter immediately after some months. They are openly cheating the customers of India. This is really pathetic that both RBI and Govt does not take action against there crook activities. The best think is all the customer of ICICI should protest aginst the bank in the front of RBI building, this will force the RBI to hear the ICICI customer problem and media will also get active. All the ICICI Home Loan Customers should transfer there loans to public sector banks. I know the ICICI create problems if someone tries to transfer there loans to other banks.

Everytime ICICI management says, we are watching the liquidity situation and will review the rates later on and then they never reduce the rates. This is just to divert the attention of the customers and the media. Irony, is that the KV Kamath says different thing and Chanda Kochar says opposite of that. This is because KV Kamath is the head of CII, he always says good thing but never delivers that. Funny part is he is saying banks should reduce rates, but his ICICI is not reducing the rates. I dont understand, why the cost of funds are not coming down for these private banks despite huge Repo Rate and CRR cuts by the RBI. They are just fooling everyone and earning huge interest income by not reducing the interest rates.

ICICI Home Loan — NO REDUCTION IN HOME LOAN RATE

I had taken the loan at 9.25 and now paying back with 12.75. With every rise let it be CRR or Reverse REPO or SLR or any other the ICICI had shown a promptness in increasing the rate of interest for Home Loan(they never felt the need to do the impact analysis). Now when RBI had reduced the CRR by 3.5 percent and Repo is around 7.5 % ICICI is just pretending to do the Impact Analysis (I really doubt they are doing anything)
Now ICICI had reduced the rate for new customer only even though when RBI has asked ICICI to reduce the PLR which will benefit both old and new customer.
I have a strong feeling that ICICI has incurred a huge loss in their foreign operation and to recover from the loss they are now charging such exorbitant interest rates to their customer just to make sure that at the end of financial year they will be able to show the maintained cash reserve (if not good) in their Balance Sheet.
They have stopped two wheeler loans and reduced the other loans as most of defaulters are from the same category; this is surely hurting their Credit Rating.
But what i am more surprised about is why RBI and our finance honcho are like PC & Mr. Manmohan is not doing anything in this regards.
If such thing goes on India is not far behind of Middle prime (Situation like subprime triggered by Middle class salaried person by intentionally being the defaulter of Home loan)
Request you to please look into this and do something in this regard or guide us to take this kind of extortion from ICICI up to the appropriate law.

Please atleast initiate complaint from the site
http://www.icicibank.com/Pfsuser/customer/html/customer_carenew_v3.html

Only solution is to switch loan to nationalised bank.
Now i have decided even if i have loss in the form of penalty I will go with SBI, corporation bank or BOB

Even if ICICI announced interest cut now i understood them very well.It is always better for late than never.

I am customer of ICICI bank taken home loan as on year 2004 paid regular installments but on 2008 at end only after request i got full details of my paid amount.I had taken loan from my native icici aurangabad from that branch only i will get information like this type of rules are telling others branches, also most of cities no Post paid installment facilites.Address changed faclities should be through internet but still not available.

Housing Loan — Lack of transparency

I am running housing loan from ICICI and the charges the loan officer is charging is nowhere documented and they refuse to give any thing in writing.
Avoid ICICI Bank for housing loans.

It is the same story with me too and when i had availed the loan all went so fast and they disbursed the loan so quickly to impress you.There after there ulteriour motive starts by squizzing you to the core and extract as much as they can.Even after writing a mail the Then Deputy Managinf Director and present MD also there is no response from them. I have sent a long e mail to make them understand how they were cheating me.Still no response and i have decided to switch to some other Banks like HDFC.

This is Deepak from Chennai. Whatever you told is absolutely true. I also took loan in ICICI in 2006 @ 7% pa but now repaying at 12.5%. When the bank increased the rates when other banks did, it is liable to decrase the same as well when other peers do.
Also RBI has no control with any of the banks. The concept of "floating" means fluctuations as per market conditions. Now the banks are reducing the interest rate for new loans but nobody is caring for existing loans. The concept of "floating" doesn't make any sense at all.
Now that you are an existing ICICI home loan customer, you can avail a new interest rate of 9.75%. The details of the same are given in the link below
http://wealth.moneycontrol.com/features/home-loans/rate-war-icici-drops-home-loan-rates-for-existing-customers-/12762/0


Regards
Deepak
[protected]

Absolutely! Moreover, the system is totally opaque...if you want any information like the current roi u r being charged, its like banging your head against a brick wall!! I have been a customer since 2007, and have been trying to get some information for the past 2 months, in vain! Maybe its because of the uncompetitive rates they are charging. I think, like u said, ICICI reacts to rate increases the very day RBI announces them, and to rate cuts, NEVER!!! Maybe existing customers should get together and demand a rate cut, and a transparent system.

i m also shikar of this unhuman unjustic unreliable bank. i m customer since 2003. bank regular increasing intrest rate in comparision to other banks without sending any intimations.How i can found relief from this bank, can suggest me. ICICI bank never send bank statement till date.

I am also one of the very very highly affected so called "existing customer". Currently i am paying 13% interest rate. mine started at 9.25% and kept increasing the next few months itself, and continued increasing. Has RBI got any hand to this fraud or are they keeping silent, as RBI doesnt impose any penalty on ICICI bank. Any penalty will only increase burden on the so called "existing customers", so would kindly request RBI to step in and do some standardization of home loan lending rates.

No doubts, ICICIBANK is a biggest cheat and carries no moral and ethical values, Me too frustrated with the way they increase interest rates,
Infact ICICIBANK made itself so popular by doing such cheap tricks that if I tell somebody that I have homeloan from ICICI they start laughing, cheap bank that's their reaction

Keep it up, nobody will come forward to save you Chanda kochar