[Resolved]  ICICI Bank — pre-qualified personal loan rejected

Address:

Nashik, Maharashtra, 422003

ICICI offered a pre-approved loan (image1) and I applied for it. Now they say that the loan was pre-qualified and not pre-approved.

There website clearly mentions pre-approved and when you click on it, you get redirected to the login screen and need to enter your net banking details.

After you log in the pre-approved changes to pre-qualified... which clearly seems to be a trap to induce customers to apply for loans. But if the loan is pre-approved then I should not be able to proceed further with the approval.

They collected all my documents and then two verifications were done. However, even after two weeks time there was no follow up from them. So I finally came to know that the loan has been rejected for poor credit score despite of me holding a salary account with ICICI from last 11 years and earning a monthly income of 47, 000.

I was never informed that a credit score of 750 was required. if this is their basic requirement then why is it not mentioned on there website, why did the calling agents not inform me about this, why did the person who collected the documents not inform me about this.

When I visited the branch to discuss this and report my grievances, the Branch Manager stated that personal loan does not fall under his perview and was not interested in hearing me. Then I was asked to speak to the personal loan reporting manager who again was not at all interested to hear my grief and just walked away blaming that the loan is rejected for poor credit score.

I was really saddened by this behavior as these were the same guys who were so eager to call me when I applied for a loan and knowing that it is now rejected, I was not even valued to be heard.

Even in my customer portal, it says pre-qaulified and the amount is 7.25, 000... so what criteria does ICICI consider before offering a pre-qualified loan... and now the loan been rejected why is this offer still existing in my portal.

I am already in discussion with them, but the communication is not gong anywhere and the emails are not even read properly.