ICICI Bank — Not allowing closing the personal loan and always insisting high prepayment charges. | |||||
I am trying to prepay this Personal Loan Account Number LPBNG[protected] since 16-Nov 2015. There have been so many email communications in between ICICI Customer Care and me regarding this. But the process has not yet come to a closure. As per the ICICI customer care response I have given authorized letter to my friend and he has visited the branch twice. We have provided them printed copy of email communication from ICICI Customer care confirming the Prepayment charges is 2.5% of the Principal Outstanding amount. But, ICICI Bank is not allowing closing the personal loan and always insisting Prepayment charges is 5% of the Principal Outstanding amount, contrary to the statement provided by your own customer care department: "With reference to your Service Reference Number SR[protected] We inform you that the Prepayment charges are applicable for your Personal loan account. the charges would be 2.5% of the Principal Outstanding amount plus Applicable Service tax." New Service Request #SR[protected] has been raised by the bank to retrieve agreement copy. It is really frustrating to me as I am stuck for the past 3 months with this process of pre-closure of the Personal Loan, and the bank is causing long delays, thereby causing me to lose my money on interest payments. I have signed in the Personal Loan application form which clearly mentions a Prepayment charge is 2.5%. More than 5 times I have requested the scanned copy of Personal Loan application form and agreement and bank is not ready share the documents Was this information helpful? | |||||
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ICICI Bank customer support has been notified about the posted complaint. | |||||
 2 Comments | |||||
Comments
Still ICICI Bank Employee is saying prepayment charge is 5% by ignoring my loan agreement and ICICI Bank Customer care emails.
We have provided them printed copy of email communication from customer care confirming the prepayment charges is 2.5% and loan agreement copy say prepayment charges is 2.5% (Service Reference Number SR[protected] and SR[protected]. But, bank is not allowing to close the loan and always insisting prepayment charges is 5% of the Principal Outstanding amount, contrary to the statement provided by your own customer care department and agreement copy:
It is really frustrating to me as I am stuck for the past 4 months with this process of pre-closure of the personal loan, and the bank is causing long delays, thereby causing me to lose my money on interest payments of Rs.13057.
We have provided them printed copy of email communication from customer care confirming the prepayment charges is 2.5% and loan agreement copy say prepayment charges is 2.5% (Service Reference Number SR[protected] and SR[protected]. But, bank is not allowing to close the loan and always insisting prepayment charges is 5% of the Principal Outstanding amount, contrary to the statement provided by your own customer care department and agreement copy:
It is really frustrating to me as I am stuck for the past 4 months with this process of pre-closure of the personal loan, and the bank is causing long delays, thereby causing me to lose my money on interest payments of Rs.13057.
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ICICI Bank Towers, Bandra-Kurla Complex, Mumbai, Maharashtra, India - 400051
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We are sorry to hear about your concern. Our official will get in touch with you. We appreciate your patience.
Regards,
ICICI Bank Customer Service Team