[Resolved]  ICICI Bank — For Immediate Corrective Action Following Misinformation and Lack of Proper Guidance by ICICI Agent for My Loan [Ref No LPCAL[protected]]

Address:

Kolkata, West Bengal, 700019

I am forced to write this email following a very negative experience with the ICICI Bank. I had always thought of ICICI Bank as a customer friendly and reputed establishment. But I have been sorely disappointed. In fact, I have been misled by your Agent Mr Dipanjan Mondal regarding my loan application and subsequent clearance of the same. I have tried to be patient and had even withdrawn a prior complaint when Mr. Mondal had assured me that the matter would be handled. However, he has proved to be evasive and untrustworthy. Please find below brief information on the matter. I have attached the related prior communication with this email for your reference.

- I met Mr Dipanjan Mondal on July 27, 2016 for applying for a loan of Rs 2 lakh wherein I could repay the EMI over a period of 5 years. Before meeting him I applied for loan in July 2016 via your website. Then from Delhi Office one ICICI representative called me and took some details. After that I received a mail stating that my loan application has been provisionally approved and I am eligible for availing the Facility. The mail also stated that an ICICI Bank representative will contact me within 2 working days to collect documents for further processing of Personal Loan. Then Mr. Dipanjan Mondal contacted me. I was told that I would come to know about the EMI amount only after my application was scrutinized and the loan was sanctioned by the bank. As part of this application process, I provided statements of my salary account and savings account to Mr Mondal on the email that he had shared ([protected]@gmail.com). He had asked for these statements. Subsequently, on July 30, 2016, a person came from ICICI Bank to my house for verification.

- On August 2, I got repeated call from[protected] and[protected] for confirmation of some information which was sent to me on my official mail id ([protected]@sighstavers.org). However, when I checked, there was no email from ICICI Bank. Meanwhile, Mr Mondal informed me through WhatsApp that a loan of Rs 1.5 lakh had been sanctioned. But even though I asked repeatedly, I was not told why Rs 2 lakh was not sanctioned nor was I told about the EMI amount. On August 4, I called the landline and the person who took my call said that only the sales person who had dealt with me could tell me what the EMI amount is. After further follow up with Mr Mondal, he provided me an email id (anit.[protected]@icicibank.com) and suggested me to provide my details. I myself provided the required information and sent to the mail id –anit.[protected]@icicibank.com.
- But then on August 6 2016 (Saturday), amount of Rs. 143, 063, 00 was credited into my Salary account of Standard Chartered bank (AC No: [protected]) from N[protected]S935|CMS[protected] ICICI BANK RAROG. I still did not know how much amount as EMI I have to pay. I also asked about the Loan application Number. That was also not given to me. I called in Customer Care also on August 8. The Customer Care Executive said that there is nothing showing regarding my loan application. They took my PAN CARD Number, Registered Telephone number, Address, email. They were still unable able to find any information about my loan. They suggested me to contact the ICICI branch immediately.

- On August 10, I received an sms saying a welcome kit had been sent to my email id on August 9. But I didn’t get any such email. The same day my friend Mr. Rajat Roy called the ICICI Bank and spoke to Mr. Chandan Karmakar (phone no [protected]). From him, we came to know that my loan ref no is LPCAL[protected] and that I have to pay an EMI of Rs 5422 for 3 years. I did not have any say in this matter. I had clearly shared that I could only pay EMI upto Rs 4000 and would need more time for the repayment. Mr Karmakar shared your email id and I wrote a complaint to you on August 10. However, Mr Mondal assured me that he would look into this matter and requested me to withdraw the complaint and I did so on August 11. He said that my EMI will not exceed Rs 4000.

- On mid of August I got a letter (dated 10th August) from ICICI Bank saying Rs 5422/- had been received as my EMI. I contacted Mr Mondal. He said that there may have been some mistake and that EMI of Rs 4222 was to be deducted. Then on September 1st 2016, amount of Rs.5422 was deducted as EMI - an amount which I had not agreed on and for which I had not given any confirmation. Mr Mondal called me and again said that the amount of Rs.5422 had been deducted by mistake. This time, he mentioned three options for EMI (1) Rs. 5422 for 3 years (2) Rs. 4222 for 4 years and (3) Rs 3000 for 5 years. I agreed to Rs. 4222 for 4 years. He then said from 1st October onwards my EMI will be Rs. 4222 for 4 years and also assured me that a similar letter will come with the mentioned amount. He also assured me that the date of EMI will also be changed from 1st to 5th of every month as this was also requested.

- But again on 1st October 2016, the same amount of Rs. 5422 was deducted and for that I did not receive any prior notification. On following up with Mr Mondal, he said that the deducted extra amount of Rs. 1200 will be returned back to me within 12 days and also from November onwards EMI of Rs. 4222 has been approved. This again did not happen and Rs. 5422 was deducted on 1st of November 2016. When I contacted him on 1st November 2016, Mr. Mondal said that he will let me know everything by 2nd November as he is on leave. He further mentioned that ICICI bank will return the extra amount i.e. Rs 2400 (deducted for September and October) either in cash or in cheque. However, till date, I have not received any official letter (as email or in hard copy) regarding this. I have also not received any welcome kit or any other official document regarding the loan.

- I would also like to bring to your notice that he told me that complaining about him will not make any difference!

The whole experience has been very frustrating and I have lost trust in ICICI Bank. I am being forced to pay an EMI that I had not agreed to and cannot pay. Also, I had even acceded to a personal request from Mr Mondal for a loan of Rs 1400 for some medical treatment for his father. I had done this to support a human being who then later turned out to be completely untrustworthy.
I am requesting you to change the EMI amount from Rs 5422 for 3 years to Rs.4222 for 4 years and for repayment of the additional amount that was deducted in the previous months. I also want to receive an official letter outlining this. If this is not possible, then let me know about the procedure for cancelling a loan. I would like to return the money and put an end to this harrowing episode.
If this matter is not resolved at the earliest, I will be forced to pursue other options. My family and friends who have witnessed my travails are already becoming disillusioned with ICICI Bank and are also urging me to share my negative experience.
Please ensure that immediate corrective action is taken. Also, please consider this letter as an official complaint against Mr Dipanjan Mondal who gave me false assurances and caused considerable problems. He has brought ICICI Bank into disrepute. He should be held accountable for his actions in dealing with a customer in such a fashion. He also needs to be made to return the money he took from me.

Best Regards
Kamal Kumari Chakraborty