Complaint of wrong procedures adopted by ICICI Bank No Transparency of Interest Calculation.
On 14th oct. I had submitted arequest to close my NRO FD no[protected] which was opened on 26/5/2007 & was automatically renewed on 26/5/2008. The FD was closed on 16/10/2008.As such the period of FD was 365+143 = 508 Days.
On renewal on 26/5/2008 the amount in deposit was Rs5, 44, 875/- on 26/5/2009 I had to get a maturity value of Rs 5, 89, 790/- that means an Interest of Rs 44, 915/- less TDS. for 365 days.
In this regard I was surprised to note that for 143 days only Rs 7685/- has been credited to my account.
On my other FDR no[protected] for Rs 5000/- opened on 28/6/2008 where I was to get an Interest of Rs 412/- for 365days, I have been paid only Rs 54/- for 100 days
There is one another case of FDR no.[protected]. As the funds were short in my account & there had been a delay in getting money, I submitted a request by internet banking to close said FD of Rs 1, 75, 000/- opened in Feb, 2008. The amount balance in a/c was more than Rs 1, 80, 000/- & maturity value was more than Rs 1, 89, 000/- on maturity.
Meantime the amount expected was credited in the account & I wanted to cancel the request. There was no provision of cancelling the request in the Netbanking. Hence I had no alternative but to send the e-mail facility provided in the account.
Next day on checking the account & my e-mail. There was no e-mail reference. The FD was closed & Rs 1, 78, 000/- was credited to my account. Only Rs 3000/ as interest for more than 200 days of deposit, whereas more than Rs 14000/- was to be paid for 365 days. Prompt action taken to close FD but no action on e-mail sent. Because it is in the interest of Bank.
Banking system should have transparent system to tell its customer how much loss will be there if FD is closed prematurely.
It clearly indicates that procedure adopted by you for Interest calculation is wrong somewhere. Hence I subitmtted my request to the bank to calculate the Interest properly & pay the credit the correct amount in my account for all the three said FDRs with details.
Meanwhile I want the forum to note that how ICICI Bank cheats its customers. Help me to get proper Interest. I have personal interest but if the procedures become transparent & shorcomings of the systems are removed it will help everybody & all persons will have faith in Banking procedures. Else Banks will go on cheating its customers.
Aug 14, 2020
Complaint marked as Resolved 
ICICI Credit Card — Wrong Deduction
I have taken a credit card number [protected] with the ICICI Bank. I have booked two air tickets from Delhi to Mumbai through Yatra.Com in the month of December-2008 but due to some technical error, the amount got deducted by four times in my account instead of two ticket’s amount. I have sent a request mail to ICICI Bank for correction of false transaction and cash back. After one month, that wrongly debited amount got credited in my account.Now I’m really surprised that ICICI bank has again debited my account for that amount to Rs.10590 in the month of August-09. I don’t know what is the reason of this false entry?
So I would like to request you please solve the matter and advice me for further action.